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The best high-interest savings accounts in Canada for 2023
– moneysense.ca
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The best high-interest savings accounts in Canada for 2023
Here are the accounts offering the highest interest rates and lowest fees.
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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.
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How much debt is normal in Canada? We break it down by age
– moneysense.ca
The ballooning debt has been mainly driven by rising mortgage balances as demand pushed home prices to record levels across the country.
Does this mean the average Canadian is up to their eyeballs in debt? Not necessarily.
Best balance transfer credit cards in Canada
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What is the average debt for Canadians?
Let’s start by looking at the average consumer balance held across different credit products. This information comes from TransUnion’s Q1 2023 Credit Industry Insights report.
Debt typeAverage owedCredit cards$3,909Installment loans$20,845Auto loans$26,494Lines of credit$34,328Mortgages$349,178
Note, the numbers here represent the average consumer that carries a balance in these categories…
