Heavy-duty debt

Consumer debt in Canada has reached its highest levels in nearly a decade.

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  • Consumer debt in Canada has reached its highest levels in nearly a decade, according to new data from TransUnion. The average household had $26,221 in non-mortgage related debt in the second quarter. Ouch. Rein in your debt with these tips from MoneySense‘s Power of Advice section.
  • Canadians are less and less impressed with their financial advisers. J.D. Power and Associates’ annual survey found investor satisfaction with full-service firms in Canada has declined for the second straight year.
  • The federal Conservatives are going ahead with a plan to introduce Pooled Registered Pension Plans (PRPPs) in Canada and the C.D. Howe institute is not happy about it. PRPPs will amount to a tax increase for the poorest working Canadians and won’t do much to help the middle class save for retirement, the think tank says in a new report. Read MoneySense‘s take on PRPPs.

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