Thursday, February 5, 2015

5 Mistakes You’re Making With Your Debt

There’s a reason that the average Canadian’s non-mortgage debt hit $28,853 in 2014 and that’s because it’s hard to pay off debt. It’s a long, slow process and there is zero tangible reward to it until you get to the very end and can proclaim yourself debt free. That said, paying off debt is an important part of personal finance, and is entirely worth it in the end. It doesn’t have to be all bad either, if you’re having a hard time paying off your debt, it might be because you’re making a few key mistakes.

Here are five big mistakes you might be making with your debt repayment:

 
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