Canada’s bet with debt. Back in 2008, the world was knocked into one of the worst recessions we had seen in decades. Canada was by no means immune. Over-leveraged Canadians lost property and businesses, retirement investments tanked and consumer confidence plummeted. History tells us this kind of downward spiral is very dangerous. To introduce some […]
Canadians not as confident about debt loads as Bank of Canada. October 24, 2018: Today, Bank of Canada Governor Stephen Poloz raised the benchmark interest rate a quarter-point to 1.75 per cent. In this announcement, Poloz was clear that this measure was taken to achieve a relatively consistent inflation target of between 2.5% and 3.5%. […]
Inflation squeezes those in debt even harder. September 5, 2018: Today, the Governor Stephen Poloz, released the Bank of Canada’s most recent decision on national interest rates. As expected, he indicated there would not be a rate increase at this time, even while inflation rates continue to hover at the outer edges of their comfort […]
20-year financial veteran Paul Murphy tackles the tough questions about debt consolidation. From the impact on your credit rating to typical rates for consolidation loans, you’ll learn the pros and cons of using debt consolidation. Debt consolidation. It’s a simple concept—you get one big loan to wipe out lots of little debts—but a technique that […]
This report was written by Paul Murphy, a 20-year financial veteran and managing partner at 4 Pillars. In this report, you’ll find a data-backed picture of household debt and bankruptcy in Canada. Key questions answered in this report: What is the average household debt in Canada? What are the signs of a typical Canadian family facing […]