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Crushing Debt: Why Canadians Should Drop Everything and Pay Off Debt
As the majority of Canadians are now spending much more than they make, their debt levels are reaching crisis proportions. Excluding mortgage debt, the average Canadian owes over $25,000 in consumer debt, which poses massive risks not only for the individuals carrying that financial load, but for our entire financial system. In Crushing Debt, bestselling author David Traha ...more
Paperback, 160 pages
Published November 1st 2011 by Wiley
(first published October 31st 2011)
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Mr. Trahair's book deals with the rising personal debt situation in Canada. At time of writing, the average debt to income ratio in Canada was 148.1%, a higher ratio than in the U.S. for the first time in many years. Trahair explains the causes of high personal debt including a consumerist culture, easy credit and low interest rates. He offers a choice of four principal ways to overcome high personal debt: paying off your debt through savings, a debt management program provided by a credit couns ...more
Not my favourite book about debt out there, but it was an easy and quick read. There are good tips in there for getting out of debt, but other books I've read have much more practical advice. I'm trying to remember what it said, to be honest, and I'm coming up blank other than the fact that he's advising Canadians to get out of debt (obviously).