Financial Literacy

Keep up with the latest tips and ideas for building a brighter financial future.

Planning for Retirement, Despite Having Debt

retirement planning

Retirement planning can seem like an impossible task when you’re burdened by debt.  For many Canadians, it’s hard enough coping with the pressures of today, let alone thinking of tomorrow.

Household Saving Rate in Canada

Troublingly, Canadian savings rates continue to be well below the recommended level – 10% of net income. The latest data from Trading Economics reveals that Household Saving Rates in Canada decreased to 1.10 percent in the first quarter of 2019 from 1.40 percent in the fourth quarter of 2018, reaching near record lows.


Why don’t Canadians save?  One reason may be that we never learned that savings comes first.  When we first received an allowance as a youngster or got our first pay cheque, not enough of us learned to put some of our money away, right off the top.

According to a recent article published by Forbes, handling personal spending and paying off debt are key to retirement planning.  While the focus is on early retirement, the article offers some helpful tips on how to plan ahead.

Retirement planning can seem daunting when you are in debt but it’s important to start small – whatever your finances – and build from there.

If you need help with debt management, budgeting or general financial education, we can help you pick a credit counsellor. Click here to find a credit counsellor near you.

Share this


Learn more about debt management and budgeting from a certified non-profit credit counsellor if you need to break free of debt.

#BeDebtFree2022 #FinancialHealth #DebtManagement
Creditcc photo
Is debt knocking you down? We can help you get back on track. Talk to a non-profit credit counsellor about your options.

#BeDebtFree2022 #FinancialHealth #DebtManagement
Creditcc photo
Make improving your #financial situation a priority. You can book a free appointment to speak with a certified non-profit credit counsellor.

#BeDebtFree2022 #FinancialHealth #DebtManagement #Non-Profit #CreditCounselling
Creditcc photo
CCC’s Board Treasurer and CEO talk about myths around debt. Click below to read more. @CPAcanada

#MythsAroundDebt #CanadaPersonalFinace #BeDebtFree
If you need help with debt management, budgeting or general financial education, speak to a certified, non-profit credit counsellor today.

#SaveMoney #FinancialHealth #DebtManagement
Creditcc photo
You have options for your debt situation. Our non-profit credit counsellors are ready to help if you need guidance.

#BeDebtFree2022 #FinancialLiteracy #CreditCounselling
Creditcc photo