Click me
Transcribed

Are Canadians in Credit Card Debt Denial?

Are Canadians in Credit Card Debt Denial? WHAT WE THINK ABOUT CREDIT CARD DEBT 61% of Canadians believe they have LESS credit card debt than the average Canadian 26% of Canadians believe they have the AVERAGE amount of credit card debt. 13% of Canadians believe they have MORE credit card debt than the average Canadian. WHAT WE HAVE IN CREDIT CARD DEBT 10K 10% HAVE CREDIT CARD DEBT OVER $10,000 25.5% HAVE CREDIT CARD DEBT OVER $5,000 THE AVERAGE AMOUNT OF CREDIT CARD DEBT IS $3,277.33 5K 41% OF CANADIANS HAVE CREDIT CARD DEBT OVER $3,000 ЗК ARE WE IN CREDIT CARD DEBT DENIAL? $11,000 AVERAGE Of those that have over $11,000 in Credit Card debt, 17% think they have LESS debt than the average 45% of Canadians who think they have the AVERAGE amount of credit card debt Canadian, and 43% think they have the AVERAGE amount of Credit Card Debt are in Credit Card Debt Denial LESS of Canadians who think they have LESS credit card debt than the average 22% Canadian are in Credit Card Debt Denial WHICH PROVINCE THINKS THEY HAVE THE LEAST AMOUNT OF CREDIT CARD DEBT? #1. SASKATCHEWAN (64.5%) # 2. ALBERTA (62.4%) # 3. ONTARIO (61.5%) PERCENTAGE WHO THINK THEY HAVE LESS CREDIT CARD DEBT THEN THE AVERAGE CANADIAN. WHICH PROVINCE HAS THE GREATEST AMOUNT OF CREDIT CARD DEBT? #1. ATLANTIC PROVINCES (46.5%) #2. ALBERTA (43.6%) # 3. BRITISH COLUMBIA (42.5%) PERCENTAGE WHO HAVE CREDIT CARD DEBT THAT TOTALS MORE THAN $3,000. WHICH PROVINCE HAS THE HIGHEST CREDIT CARD DEBT DENIAL? #1. ATLANTIC PROVINCES (42.0%) # 2. ALBERTA (43.6%) # 3. ONTARIO (42.5%) PERCENTAGE WHO HAVE $3,000+ CREDIT CARD DEBT, AND THINK THEY HAVE LESS THEN THE AVERAGE CANADIAN. HOW DO WE OVERCOME CREDIT CARD DEBT DENIAL? STEP 1 DETERMINE HOW MUCH CREDIT CARD DEBT YOU OWE Take a hard look at exactly how much you owe. We know – it's not fun to think about your debt, but this is the first step to recovery (we promise!). STEP 2 MAKE A LIST OF WHAT DEBTS YOU HAVE ON EACH CARD It's rare that we only have ONE credit card in our wallet. Figure out what you owe on each, and note down the interest rate you're paying. Why? You guessed it... the card with the highest rate is the one you should pay off first. STEP 3 SET A BUDGET AND START TO PAY DOWN YOUR DEBT You've heard it before, but now it's time to listen. Start tracking all of your expenses and follow a strict budget. Any cash left over at the end of the month should go against your debt. Oh, and put your plastic away for a while until the balance is paid in full. RateSupermarket.ca This infographic was prepared using statistics from a survey on credit card debt conducted by RateSupermarket.ca from February 1, 2012 to February 29, 2012, with a sample size of 2,929 Canadians. For more information on these statistics, please contact [email protected]. 0606 0922 0425 0480 0178 Winston

Are Canadians in Credit Card Debt Denial?

shared by digifreelancer on Apr 23
735 views
0 shares
0 comments
Which province has the most credit card debt? How much credit card debt do Canadians have compared to what we think?

Category

Economy
Did you work on this visual? Claim credit!

Get a Quote

Embed Code

For hosted site:

Click the code to copy

For wordpress.com:

Click the code to copy
Customize size