Debt Free Faster

Are you drowning in debt? If this is you are not alone.

Debt has grown like a virus over the last 10 years in Kelowna. Incomes in the Okanagan are stagnant for many, others are out of work and now paying off personal debt seem almost impossible.

Before you give up here are three ways to deal with your debt that can work ...

Student Debt Increasing

World economies are stalling, unemployment is growing and companies are laying off of staff to cut costs.

People world wide are looking for opportunities for employment and job security, and many are going back to school to better their chances.


In response many post secondary schools are gearing up to meet the demand.

The dark side of this expanding need for higher education is the cost of a good education is expensive and student loan debt is expanding at an alarming rate.

Canadian Debt Worse than the USA

We Canadians are known for being privately proud of our country. Being so close to the United States we have become known as their much smaller brother, always second best.


But now we have something to point to, as being better at than the Americans ... we Canadian's carry more house hold debt than they do.


That's right! After watching financial melt down and the US economy crash, we Canadians continued to pile on the personal debt. 


Recently Bank of Canada Governor Mark Carney gave a stark warning to Canadian house holds in this report from CTV from the Vancouver Sun...

Debt in Kelowna - Have we been here before?

According to the Bank of Canada ... household debt is emerging as the greatest risk to Canada's financial system and the financial lives of Canadian and Okanagan families.

The Amazing part of all this ... the personal credit crunch and rise credit card debt is nothing new ... check out these two video excerpts from the CBC archives from December 1978 and the second from November 2008.