Before going into COVID-19 personal debt in Canada was at a high. In Sept. of 2020 CBC reported that the average Canadian owed over $73,000 in personal debt, up 2.2% from the year prior.
1/3 of Canadians say that the stress of money management has increased because of the pandemic. 30% said that their income has decreased. 30% also reported that COVID-19 reduced the amount they were saving. 21% of pre-retired Canadians said that they now plan to retire later because of the pandemic.
With potential uncertainty ahead, and a ballooning federal debt that could increase the tax burden on Canadians, now is a time to get sound mentorship on how to plan with wisdom for the future.
Lorne Jackson has decades of experience in this area. He has been in the financial business for 30+ years. In 2001 he left the for-profit world and began the Canadian National Christian Foundation in 2001. He is now the president of Advisors with Purpose, a charity which offers Biblical financial advice.
He joins us this week to share his wisdom.
Also joining us for a special segment in this interview is Toyin Crandell, a personal finance and debt freedom coach.
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