Although most owners desire to be debt-free, the majority are not putting their marbles into it. A recent Manulife Bank poll[i] discovered that three in four homeowners consider becoming or becoming debt-free to be among their highest financial priorities. That 75 percent figure holds (with only slight variation) across all age groups surveyed, but only 1 / 2 of those surveyed had was able to reduce their debt on the preceding yr.
Why a multitude of Canadian homeowners struggling to lower their debt?
Lack of data might be part in the problem. Some Canadians haven't taken the time to understand about the factors impacting their ability to deal with minimizing their debt. For example:
One in three Canadians aged 30 to 39 is not conscious of interest is relatively low when compared with historical norms. As a result, Canadians on this group could possibly be signing up for more debt than they could comfortably carry if interest was to resume historical norms most