Families add £2,500 to their credit card debts
Families have added another £2,500 to their credit card and personal loan debts in the space of a year as they struggle with high living costs, a report has warned.
The Ottawa-based thinktank's 12th annual report, released Thursday, finds that average family debt has hit $100,000 and the debtto-income ratio is 150 per cent, meaning that for every $1,000 in after-tax income they make, Canadian families owe $1,500.