Survey shows Canadians feel debt is worth it
Posted May 25, 2011 1:25 pm.
This article is more than 5 years old.
When it comes to red ink and individual debt, Canadians apparently aren’t spending too much time worrying over how much they owe.
That’s according to a new poll from Investor’s Group that shows more than half feel that what they’re going into debt for will benefit them later in life.
Of the 75 per cent in debt, more than half feel it will have a positive future impact.
However, not all are so worry-free. The research shows one in three admit to losing sleep over their borrowing.
Investor’s Group Assistant Vice President Jack Courtney says when taking on a debt, foresight is always required.
“They need to think about how affordable the payments are, what would be the potential impact of an interest rate rise if we were to get into a rising interest rate,” says Courtney.
When it comes to making a major purchase, most Canadians say they prefer to pay in cash or just pay as much as they can.
