Comments on: How Much Debt Is Too Much Debt? https://www.moneywehave.com/how-much-debt-is-too-much-debt/ Personal Finance and Budget Travel for Canadians Tue, 27 Oct 2020 18:56:53 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Weekend Reading – Poor bond yields, blog success, debt and more | My Own Advisor https://www.moneywehave.com/how-much-debt-is-too-much-debt/#comment-316 Thu, 14 Aug 2014 20:50:31 +0000 https://www.moneywehave.com/?p=1596#comment-316 […] Barry Choi wrote about debt. […]

]]> By: Barry Choi https://www.moneywehave.com/how-much-debt-is-too-much-debt/#comment-300 Wed, 13 Aug 2014 02:56:04 +0000 https://www.moneywehave.com/?p=1596#comment-300 In reply to Dan @ Our Big Fat Wallet.

Hey Dan,

I just find these surveys ridiculous, there was a separate report that went out yesterday saying Canadian wealth is up due to rising real estate prices. If you own a home that is currently worth 1 million but owe $950,000 you are not a millionaire.

]]> By: Dan @ Our Big Fat Wallet https://www.moneywehave.com/how-much-debt-is-too-much-debt/#comment-299 Wed, 13 Aug 2014 02:49:15 +0000 https://www.moneywehave.com/?p=1596#comment-299 As someone living in Alberta I’m willing to bet the debt levels relate to how people feel about the economy. The economy (here in Alberta) is great so people are wiling to buy the expensive BMW or boat they have always wanted. And since they don’t have the money for it (saving would be too simple) they finance it

]]> By: Barry Choi https://www.moneywehave.com/how-much-debt-is-too-much-debt/#comment-297 Mon, 11 Aug 2014 23:55:47 +0000 https://www.moneywehave.com/?p=1596#comment-297 In reply to Robb Engen.

Robb,

For sure these surveys are all BS. Just today Environics released a survey saying household wealth is up!

http://www.huffingtonpost.ca/2014/08/11/net-worth-wealth-canada_n_5667849.html

This is all based on the fact that property values have gone up. Personally I would only count the amount of equity you have in your home as wealth, not the perceived value.

]]> By: Robb Engen https://www.moneywehave.com/how-much-debt-is-too-much-debt/#comment-296 Mon, 11 Aug 2014 23:38:10 +0000 https://www.moneywehave.com/?p=1596#comment-296 I’m not sure how much we can trust the numbers in this survey. Alberta’s household debt is up big time but Ontario’s contracted year over year?!?

I don’t like to read too much into these surveys but it’s pretty clear that a lot of indebted Ontarians moved to Alberta last year and skewed the numbers.

]]> By: Barry Choi https://www.moneywehave.com/how-much-debt-is-too-much-debt/#comment-294 Mon, 11 Aug 2014 17:50:42 +0000 https://www.moneywehave.com/?p=1596#comment-294 In reply to Tawcan.

Tawcan,

Agreed mortgage debt can be good debt but I think it can be a problem when people borrow the maximum amount and can only “afford” it when taking the longest term and making just the monthly payment

]]> By: Tawcan https://www.moneywehave.com/how-much-debt-is-too-much-debt/#comment-293 Mon, 11 Aug 2014 17:48:41 +0000 https://www.moneywehave.com/?p=1596#comment-293 Credit card is bad, however you put it. Mortgage debt is generally good debt as long as you can pay your mortgage without taxing your budget.

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