Yasha Ahayah Bible Scriptures (YABS)

Canadians ‘drowning in debt’ as 47% struggle to cover costs: MNP

https://www.bnnbloomberg.ca/drowning-in-debt-47-of-canadians-plan-to-borrow-to-cover-basic-costs-survey-shows-1.1338497

Nearly half of Canadians are facing a debt trap, according to a new survey that thrusts highly-leveraged households into the spotlight ahead of an upcoming interest rate decision by the Bank of Canada.

Forty-seven per cent of respondents to a survey conducted on behalf of insolvency firm MNP said they don’t expect to be able to cover basic living expenses over the next year without taking on more debt. 

Proverbs 22:7 The rich ruleth over the poor, and the borrower is servant to the lender.

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I have worked hard to get out of debt and stay out of debt. I no longer have a credit card. I cut it up like the “Dave Ramsey” show teaches.

When your adding debt just to buy food and necessities, you know your headed for a dead end. Basically half of Canadians are trapped in debt.

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