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How much credit card debt does the average Canadian have?
How much debt does the average Canadian carry?
The average monthly credit card spend for Canadians was almost $2,447 in the third quarter of 2022, up by 17.3% compared to the same time in 2021 and up 21.8% in 2019, according to Equifax. And from another report from the Canadian credit bureau, Canadian consumer debt has risen to $2.32 trillion, with an average debt load of approximately $21,183—excluding mortgages. These numbers represent an increase of 8.2% over last year, and 6.4% between the first and second quarters of 2022…
Estate planning and trusts for a beneficiary with a disability
Would this be a financial advisor question or an estate planner question?
Lawyer, financial planner, estate planner? Who’s best for estate planning, income tax, investments and more?
One of the biggest challenges with getting advice on money is there are often many different facets to consider. In this case, Libbie, there are estate planning, income tax and investment considerations, amongst others.
You would normally speak to a lawyer about estate planning, an accountant about income tax, and an investment advisor about investing. A professional financial planner may be able to help develop an estate plan that includes establishing a trust or preparing a will with a lawyer and offer advice in all of these areas…