This news may come as late but there are still many parts of the world that are enjoying the same standard of living and think it won’t happen to them. Well I am here to burst the bubble and say that it will eventually happen. This article discusses Canada having the highest debt to asset ratio of all nations, developing ones that is.
I am sure we have heard this numerous times over the last few years and this is even more crucial today. Some may have experienced the effects already through job loss, or lack of pension funds. The problem is simply that we thought that as long as we make the monthly payments then we will be fine. However, this mentality put us in such a situation that at the end of the month we were barely in the positive which means any disruption in our finances would mean disaster all around. And this is where we are today, as the saying goes that people are one paycheck away from loosing it all, look around.