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Credit Counselling Society in the News - Debt Help Canada
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You can often find the Credit Counselling Society in the news across Western Canada. Here are a few recent stories:
by GLOBAL NEWS
Global TV's Lynn Colliar speaks with Scott Hannah from the Credit Counselling Society to learn how Canadians can be savvy shoppers and avoid big credit bills from Christmas shopping this year.
Watch the full story on the Global Noon News Hour
Watch the full story on the Global Noon News Hour
by CTV NEWS - VICTORIA
CTV News' Louise Hartland reports that a new Statistics Canada survey reveals that a record number of us are going into debt. If you need help, she suggests that you speak with your financial institution or contact the Credit Counselling Society at www.nomoredebts.org .
Watch the full story on CTV News
Watch the full story on CTV News
by GLOBAL NATIONAL
Canadian consumer debt has soared to a new record high, and experts are urging Canadians to pay cash now and avoid paying the price later. Global National reporter Robin Gill turns to the Credit Counselling Society's Scott Hannah for perspective.
Watch the full story on the Global National
Watch the full story on the Global National
by VANCOUVER SUN
Killer boots and a coveted bike are the stars of Scott Hannah's parable of temptation and retaliation.
A few years ago, a couple came to see Hannah in his role as CEO of the Credit Counselling Society.
The guy, in his late 30s, had bought an expensive motorcycle six months before. He got it without discussing it with his partner.
When his slightly younger partner saw the bike, she headed out and snapped up a pair of thousand-dollar boots.
``They looked smoking on her,'' Hannah recalls. ``She admitted it was done out of spite.''
The couple hadn't come to Hannah for compliments: They came because they had financial trouble.
They didn't know how much trouble. The two were agog as Hannah calculated that at their current savings rate they might have - at most - a couple of hundred thousand bucks stashed when they retired. The guy was earning about $80,000 a year. (Read More)
A few years ago, a couple came to see Hannah in his role as CEO of the Credit Counselling Society.
The guy, in his late 30s, had bought an expensive motorcycle six months before. He got it without discussing it with his partner.
When his slightly younger partner saw the bike, she headed out and snapped up a pair of thousand-dollar boots.
``They looked smoking on her,'' Hannah recalls. ``She admitted it was done out of spite.''
The couple hadn't come to Hannah for compliments: They came because they had financial trouble.
They didn't know how much trouble. The two were agog as Hannah calculated that at their current savings rate they might have - at most - a couple of hundred thousand bucks stashed when they retired. The guy was earning about $80,000 a year. (Read More)
by FINANCIAL POST
If last Christmas got way too expensive way too fast for you, here are some tips on cutting back from Scott Hannah, president and CEO of the Credit Counselling Society, a non-profit organization.
- Talk to your family and friends to let them know what you can afford to spend this year. The truth is no one wants to see their family or friends struggle financially or receive a gift purchased on credit.
- You may be surprised to learn that many of your friends and family also want to cut back on their spending.
- Use a spending calendar to nail down your holiday budget. Simply take a blank calendar and fill it in with what you can afford to spend and when you will spend it.
by GLOBAL NEWS - EDMONTON
Edmonton's Global News Trouble Shooter, Julie Matthews, investigates Alberta's ballooning student debt and how to get through to post secondary students about how to manage their finances.
Click here to watch the full story on Global News Edmonton.
Click here to watch the full story on Global News Edmonton.
by FINANCIAL POST
Students are going back to school in most parts of the country this week and, sadly, one of the things many won't be learning this year is financial education.
"There is growing awareness that we need to do a better job on financial literacy," says Craig Alexander, chief economist with Toronto-Dominion. "It's starting to filter into the school system, but I don't think it's being done on a concerted basis. It's more on an ad-hoc basis."
Mr. Alexander was one of the many who submitted thoughts to the federal task force on financial literacy, which concluded its findings in February.
"They recognized as a country that we need to do better on the education front," says Mr. Alexander, adding it's not a stretch to say financial literacy is a component of the low savings rate and lack of planning for retirement that permeates our society these days. (Read More)
"There is growing awareness that we need to do a better job on financial literacy," says Craig Alexander, chief economist with Toronto-Dominion. "It's starting to filter into the school system, but I don't think it's being done on a concerted basis. It's more on an ad-hoc basis."
Mr. Alexander was one of the many who submitted thoughts to the federal task force on financial literacy, which concluded its findings in February.
"They recognized as a country that we need to do better on the education front," says Mr. Alexander, adding it's not a stretch to say financial literacy is a component of the low savings rate and lack of planning for retirement that permeates our society these days. (Read More)
by GLOBAL NATIONAL NEWS
Canadian families are buckling under record amounts of household debt -- as fears mount we could be in a recession by Christmas. Robin Gill reports.
Click here to see the story on Global National news.
Click here to see the story on Global National news.
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