It is very common nowadays to hear about 20 something individuals living with parents, or struggling to meet their financial responsibilities, especially when compared to 20 years ago – and as a recent Yahoo Canada article points out, much of this has to do with the rising costs of university education and the resulting student debt levels. This, coupled with the less than promising job market, has left many young Canadians facing significant challenges when it comes to their life plans.
Our very own Michael Goldenberg, President of DebtCare Canada, was interviewed for the article, and had this to say: “Increasing debt and no plan to pay it off is a common problem among young Canadians, known as Gen Y or Millenials.”And it isn’t just student debt that is getting these individuals into trouble - as Michael states, “the extreme accessibility to credit that helps fuel the need for instant gratification” is also causing major financial problems for young Canadians when it comes to establishing themselves financially and saving for the future.
Are young Canadians out of luck then when it comes to getting things straightened out? No, there are options available – it just requires discussing those options and choosing the one that best fits the situation.
Check out the full article here: http://ca.news.yahoo.com/challenges-facing-young-canadians-throw-life-plans-curve-184000091.html
Whether you are dealing with student debt, credit card debt, or a combination of the two, DebtCare Canada can help you get the relief you need to start over on fresh financial footing. Contact us today by calling 1-888-890-0888.