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Kitchener debt relief expert reacts to latest interest rate hike

Kitchener debt relief expert reacts to latest interest rate hike
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The 'snowball' and 'avalanche' are proven strategies to dig out from overwhelming debt — which is right for you? | Money Matters

Across the country, people are starting to buckle under debt.

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The 'snowball' vs. 'avalanche' methods to paying down debt

A debt avalanche prioritizes interest rates, while the debt snowball pays attention to balances. In both cases, you cover your minimum payments first. Where the extra cash goes is where the methods differ.

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'Accelerating' insolvencies a cause for concern say experts

In Ontario, total insolvencies surpassed pre-pandemic levels, reporting a 4.9 per cent bump relative to February 2020.

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Money is the leading source of stress for Canadians: Survey

Money continues to be the leading source of stress for Canadians – and between rising inflation and high grocery and gas prices, it’s no surprise.

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