​Canadians resolve to pay down debt

​Canadians resolve to pay down debt

​Canadians resolve to pay down debt As we head into 2015 Canadians are making a resolution to tackle their household debt. An annual survey by CIBC shows that paying down debt is the top financial priority for Canadians for the fifth year in a row. Building up savings and planning for retirement are also important along with paying bills and keeping up with day to day expenses. Christina Kramer, Executive Vice President, Retail and Business Banking, says: "While it is encouraging that paying down debt is important to Canadians, it is also important not to lose sight of longer term goals like retirement planning." The poll also showed that 45 per cent of Canadians had consulted a financial advisor this year.

 
4 Comments
  • Tony 2014-12-31 10:15:19 AM
    I wonder where are all these Canadians getting the extra cash at $160 plus debt ratio to tackle their household debt. Annual survey seems nothing more than new year wish with 45% of Canadians consulting financial advisers prior to filing for financial relieve.
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  • Sue 2014-12-31 10:34:21 AM
    These articles sound more like motivational speeches rather than newscast.
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  • Derik 2015-01-02 9:20:35 AM
    That's why I help my clients not only get into a mortgage - but with my software I actually spend the time to educate them on how to get out of one! The referrals you get from this simple tactic are unbelievable and turn the motivational talk above into reality.
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