Last updated on November 10, 2021

There is an old, unwritten rule, that goes a little something like this “Don’t talk about your finances with anyone”. Some quotes like this are timeless but I think that this one has run its course. Canadian debt is becoming a serious problem that definitely requires more attention.

Financial education is something that should be widely accepted and embraced by all. According to CBC news, Millennial debt has shown a 12.3% increase since 2018 and sits around $515.9 billion dollars. To make matters even more concerning, its younger counterpart, Gen-X is hovering around $767.4 billion.

Now, this statistic does not happen to consider if this is “good debt” or “bad debt”, which we will cover later, but is still cause for concern. We must start asking ourselves serious questions about how we are spending our money, where we should we invest our money, and pursue a new standard that allows for more openness about our financial situations.

Canadian Debt: You are not alone

Do you feel like you are constantly running away from your credit card statement, mortgage payments, and utili