In 2019, Canadians aged 35 to 44 had a debt-to-income ratio of approximately 250%.
Given the rising cost of living and increasing mortgage sizes, it’s likely that this figure has grown since then.
Many avoid discussing finances, even though open conversations can boost confidence and improve financial outcomes. With debt levels this high—and November being Financial Literacy Month—it’s time to break the silence.
This November, take one small step: check your credit score, set a budget, or explore options to simplify payments.
Reach out to learn how consolidating debt into your mortgage can streamline everything into one easy payment and free up cash flow. Let’s make managing debt simpler!
I look forward to our chat! www.chatwithlisareynolds.ca
PS: if you have a fixed rate mortgage in the 5% range – please reach out to me – there are lower rates out there!
