Saving

To pay off debt or to save money, that is the question

To pay off debt or to save money, that is the question

Debt is a big issue for people…okay almost everyone (considering Canadians have debt repayment levels sitting at 165% of their income) and as I stated in a previous post there are many kinds of debt to be wary of.

On the opposite side of the coin is our saving problem.  Canadians are not saving enough in general but especially for retirement.  We have become reliant on short term credit because of how low interest rates have gotten and how easy it is to obtain.

So how do you choose?  Pay off your debt or save your money? Can you do both? Where do you even begin?