As many economists prognosticate a recession is about to hit Canada, it is still unclear just how much Alberta will be sucked into it.
“I think for some people are like this urban myth, and I think feel like ‘Oh, like that was something ages ago, that doesn’t happen today,'” she said.Article content
Rajan said they are seeing an increase of Calgarians come through their door already looking for help in dealing with debt due to high levels of inflation and interest rates that have shot up 300 basis points to 3.25 per cent since March. She said one client had a mortgage jump from $900 per month to $1,700.Article content
Rajan noted there are a number of steps that can be taken to get the books figured out, even if it’s as simple as making coffee at home instead of daily trips to a café or eating out less. She also said it’s important to pay off credit cards and other variable interest rate debt to give yourself a better financial footing in case there is a job loss or even to manage inflation.
The increase to interest rates has slowed the formerly white-hot real estate sector, but the cost of living continues to skyrocket. In many cases this has been exacerbated by the higher interest rates which requires more money to service debt on all variable rate loans and lines of credit.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Alberta man faces prison time for attempting to smuggle boatload of meth into Canada – Terrace StandardAlberta man faces prison time for attempting to smuggle boatload of meth into Canada
اقرأ أكثر »
Canada to designate Iranian regime as serial human rights violator: ministers - National | Globalnews.caThe Canadian government is using a 'powerful and sparingly' used provision to designate the entirety of the Iranian regime as an entity that is a 'serial violator of human rights.'
اقرأ أكثر »
Canada should resist further spending amid U.K. turmoil, analysts say - National | Globalnews.caSince the 2022-23 budget was presented in April, inflation and higher prices for commodities including oil have driven tax revenues higher.
اقرأ أكثر »
Netflix Canada launches ad-supported tier for $5.99 on Nov. 1TORONTO — Netflix is giving Canadian viewers the option for a cheaper monthly subscription plan — as long as they’re willing to sit through commercial breaks.
اقرأ أكثر »
Canada energy IPOs tough sell even as institutions return to sectorAppetite for new energy listings remain limited due to wider market volatility
اقرأ أكثر »