Quote:
Originally Posted by chemgear
More to the above graphs about debt loads:
http://www.financialpost.com/news/Dr...869/story.html
It’s little wonder, considering that almost six out of every 10 Canadians say they would be in financial difficulty if their paycheque was delayed, even by one week, according to a report Monday from the Canadian Payroll Association.
. . .
Perhaps most telling is the 81% response rate in the payroll survey to the question, what would you do if you won $1-million in the lottery. The answer: “Pay down debt.”
I wonder if "Hookers and Blow" was the other choice on the survey. If so, how the heck did debt win out?! 
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I'm not disagreeing that Canadians are in debt (and many are in too much debt). I just wonder if the "most telling" question is about what people would do if they won the lottery though. To me that just shows that people are prudent. It doesn't mean that they would spend all of the $1 Million paying off debt. In other words if the question is "What would you do with $100 million?" the answer of "pay debt" would still be there.
It doesn't mean that people have $100 Million in debts though, its just that paying debts is a high priority for people, and there is no harm in that mindset.