Money wise, are we losing it? The latest statistics shows the trend seems to be downward when it comes to saving money. According to Statistics Canada, starting in 2003, the average Canadian household owed more than its annual take-home pay. Fast forward ten years later, the situation has gotten worse. Statistics Canada revealed in fall of 2013, the Canadian household debt to income ratio hits 163.7 percent at its highest level. According to RBC annual debt load survey, 75% of Canadians owe an average of $16,000 outside of their mortgage loan.
The purpose of this site is to provide education on money management. By becoming money wise, a person is more likely to achieve his/her life goals. Money skills are essential in building personal development and a person’s sense of responsibility. Money is a good thing when it is used responsibly to lead a good life and help others.
You are invited to visit this site and check out the online resources and events available to help you increase your financial literacy.