May 29, 2025
Rising Debt Troubles Young Canadians Amid Cost of Living Increases
Young Canadians are facing a debt crisis due to the high cost of living and job market uncertainties. Delinquency rates among 18-25 year olds, particularly on credit cards, have spiked, driven by factors like unemployment and financial illiteracy. To tackle this issue, experts suggest budgeting and effective debt repayment plans.