Canada’s Debt Problem

Well, the numbers are out and it doesn’t look good. Canada’s debt to GDP ratio recently reached 354.5% due to a long period of low-interest borrowing. I’m fortunate in the fact that I’ve never been in debt but it’s hard to watch my fellow Canadians and my government go so far into it.

I’m fortunate in the fact that I’ve never been in debt. I worked 40 hours week and did freelance work during college to pay for my education. My education has been the best investment I’ve ever made, as it’s paid me back a huge dividend over the last 4 years. Going into debt for an education is considered good debt, as long as there is a career waiting for you as a result.

If we as Canadians can make an effort to get out of debt sooner than later, we’ll be a more prosperous society because of it. In the last 4 years I’ve slowly taken more and more control of my money and that is what spurred me to write this blog.

I hope I can provide you all with a philosophy that will teach you take control of your money, and provide you some strategies to help you do so.

-Mike

 

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