Quote:
Originally Posted by Pastiche
You really have to ask that?
Addictions is the first that comes to mind. Gambling, drugs, collecting anything will run up a mountain of debt if you have access to credit.
Financial illiteracy is another. For many people the basic ideas of interest and repayment is a stretch.
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There's no question I need to ask. How many people really have addictions that cause them to run up debt? Certainly not the "average" Canadian.
Similiarly with student loans, the "average" Canadian doesn't even have one. Maybe the age bracket of 20 - 27 or so might have them but that's about it. Hardly a sample size indicitive of your average Canadian.
I call BS on this article or at least the research methods used to come up with that 40K.