Toronto Jan 27: Based on CIBC’s Household Credit Analysis Report released on January 26, 2011 we now know Canadians have decided to curb their spending and focus on paying down their household debt. What we also know is they are hungry for education on how to reduce this debt and plan for their future.
“Since the beginning of 2011 traffic to our website is up 61% over the same period last year,” says Jeffrey Schwartz, executive director of Consolidated Credit Counseling Services of Canada. “We are inundated with questions daily from people asking for help on how to manage their money better, reduce their household debt and set up a workable budget to help them live within their means.”
Canadians are listening closely to the warnings set out by the Federal Government, especially those who want to enter the housing market or near retirement, do they have enough money with which to live comfortably. Education on financial literacy needs to be included on the Federal Government’s agenda if Canadians are to live debt free and financially independent lives.
Schwartz adds, “The increase in traffic to our website supports the fact that Canadians want to be educated and they are saying teach us how to get out of debt!”