|By Marketwired .||
|August 9, 2013 04:18 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 08/09/13 -- According to the latest reports from TransUnion and Statistics Canada, our relationship with debt is on a very bumpy road. The most recent numbers indicate that the average Canadian owes more than $1.62 for every dollar earned, with the average household carrying more than $26,900 in non-mortgage debt.
With numbers like these, it's pretty obvious that many Canadians have found themselves in a bad relationship with debt.
"If you're struggling to keep up with your finances, there is a good chance you're in a bad relationship with debt," says Jeffrey Schwartz, executive director of Consolidated Credit Counseling Services of Canada, Inc. "If your relationship with your credit cards and lines of credit is bringing out the worst in you, it's time to break-up with debt and commit to taking control of your finances."
Your relationship may be toxic today, but by budgeting wisely, assessing your problem areas and identifying your bad habits, you can begin a new relationship with your money that will lead to a long and healthy financial life.
If you just can't see a future with your debt, then now is the time to cut the cards, and say goodbye for good. To help consumers recognize a bad relationship, Consolidated Credit provides these five signs that it's time to break-up with debt for good:
1. Debt's taking over your life - Avoiding collections calls, losing sleep over bills and feeling guilty about your latest purchases are all clear signs that debt has taken over your life.
2. You've become needy - There was a time when credit gave you independence. When you first met it was thrilling to think of all the possibilities your future together held. Now, that future is looking dark, and expensive, as your debt takes control of your life.
3. Debt is holding you back - You used to have fun together. You would go shopping, travel and eat out all the time. Now, debt is holding you back from enjoying your life and dictating your financial future.
4. You've cheated - When you first met debt, it was just the two of you. Now you have a few other debts on the side.
5. The past is haunting you - All that time you've spent with debt just won't leave you alone. It's calling you constantly, sending you emails, and even the occasional text message. No matter what you do, you just can't seem to get over debt and move on.
At Consolidated Credit we know that breaking-up is hard to do. If you are having trouble severing ties with your debt, we are here to help. When debt just won't leave you alone, you can find relief by contacting a trained, non-profit credit counsellor who will help you find your way back to a healthy financial future.
About Consolidated Credit Counseling Services of Canada, Inc.:
Consolidated Credit Counseling Services of Canada is a national non-profit credit counselling organization that teaches consumers about personal finance.
Through unbiased debt-counselling services, assisting with consolidating payments, and providing consumer education, Consolidated Credit is dedicated to assisting individuals and families in ending financial crises and solving money management problems.
Consolidated Credit also offers a free online learning centre with a variety of tools to manage personal finances. Visit the site at www.consolidatedcredit.ca for free personal finance education booklets, financial calculators, resources, tips and suggestions. Also offered is a free iPhone and iPod application, "Budget Tool", which can be used to manage expenses on-the-go.
For more information or to request an interview with
Jeffrey Schwartz: Kylie-Anne Doerner
Communications & Public Relations Manager
Consolidated Credit Counseling Services of Canada, Inc.
(B) 416.915.7283 ext. 1057 or (C) 289.231.7900