The real scare comes from credit cards. They are freely offered with little explanation of how to use them and how they affect your credit score. And those habits that people form in their teens and 20's usually carry on throughout their life.
This may seem a little alarmist, and it is. But I really want everyone to understand that excessive spending and debt accumulation can cause problems for not only you, but your whole household for decades after you bought that TV or went on that vacation.
Check out this article at Canada.com to find out more details about Canadian debt loads.
Take care of your debt. Life will be so much easier. Jerry
You bring up a great points about the role credit unions can play in helping students about debt. Too often the only conversation students/ young members hear about credit comes after they have mismanaged their credit and are having to deal with the consequences of their lack of knowledge. Credit Union helping to educate through social media and student run credit unions or other venues could create so much value.
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