Wednesday, October 24, 2012

Canadian Debt


 

A gift that could last a lifetime

Financial literacy is important, and teaching young people about it is a crucial step in changing how Canadians manage their debt.  The average Canadian spends more than they earn and this has to change.  We can still live a great life but we have to learn to live within our means and the difference between good debt and bad debt.
Buying a home you can afford and creating a plan to pay it off before you retire, is good debt.  Paying for your trip to the Caribbean on your credit card without the ability to pay it off when you return may be fun, but it's definitely bad debt.  
There is a huge difference, and we as Canadians need to get back to basics and be more responsible so that the next generation can enjoy a country that is in better shape than it is today. 
That is a much better gift for our youth than buying them a $200 pair of jeans just because they must have them, or buying them a car because riding the bus is somehow below them!  Remember your kids are too busy watching what you do to listen to what you say.
If you need help to teach your children or if you want to learn more on how to control your own debt and save for your home please give me a call at 780-919-0475 or email Amy Wilson at yourmortgagegirl@gmail.com.
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