Canadians drowning in debt to maintain lifestyle

When people are using debt to maintain their lifestyle, they are also foregoing savings for the future. Spending on debt thus reduces funds for future spending and hence economic strength and stability for years to come.  A focus on short-term spending and lack of fiscal discipline has compound costs.

Scott Terrio, estate administrator at Cooper and Company, says Canadians are taking on too much mortgage debt. Here is a direct video link.

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