Thursday, October 18, 2007

Canadians In Debt Denial

Canadians In Debt Denial: CGAs
Many Canadians seem to be oblivious to the dangers posed by spiralling debt and low savings rates, the Certified General Accountants Association of Canada says in a report.The survey commissioned by CGA-Canada found that a quarter of those who answered didn't think an interest rate hike would hurt them financially. The survey also found that about a quarter of Canadians don't save any money at all, even for retirement. So it came as little surprise that about one in five said they wouldn't be able to handle an unforeseen expenditure of $5,000.

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