Canadians continue to spend more than they earn, statistics show

New StatCan numbers show Canadians are living beyond their means – they are spending more than they are making.

The numbers show Canadian debt-to-income ratio is now at 185 per cent. This is the average – some people are going to be well beyond that. And the worry is that this is increasing and the number one reason is because of mortgage costs.

Mortgage costs have gone up which means more money out of Canadians’ pockets — along with everything else that is getting more expensive: the cost-of-living, travel, and going out to eat.

Our money expert, Rubina Ahmed-Haq, reveals the shocking numbers behind Canadian overspending and shares advice on tackling money concerns. Plus, discover creative ways to celebrate Father's Day without breaking the bank.

For more info, please go to https://globalnews.ca/news/9765631/mortgage-refinancing-interest-rates/

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