September 5, 2017

The idea of revolving credit is that it should “revolve” from time to time – in other words it should be paid off completely periodically.

Unfortunately an increasing number of Canadians do not revolve their credit but keep on increasing the amounts charged.

In fact it has recently been reported that Canadians owe 1.8 trillion dollars ($1,800,000,000,000.00) in consumer debt including mortgage debts.  That is an increase of a cool four hundred billion dollars ($400,000,000,000.00) in the last year alone.

Not only are we experiencing a massive exodus of decent paying jobs but a year over year growth of debt.  When you may ask will interest rates increase and everyone become unglued?   The answer is most likely ‘never’.

Revolve your credit!  Get out of debt and stay out of debt – we think you’ll like it!