Appearance on CTV: Average Household Debt Rises to $100,000

It really does pour when it rains sometimes. Yesterday CTV asked me to come in to provide some simple advice on how to make the best of our household finances. I chatted with Jacqueline Milczarek. Monday I will be on The Lang and O’Leary Exchange being interviewed by Amanda Lang, and Tuesday morning at 8:20am I’ll be doing a radio interview with CBC Metro Morning.

Click here to watch the clip (running time is about 5 minutes).

Preet Banerjee
Preet Banerjee
...is an independent consultant to the financial services industry and a personal finance commentator. You can learn more about Preet at his personal website and you can click here to follow him on Twitter.
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Showing 10 comments
  • Laura Thomas

    Hi Preet. Great interview. I like your point about logging every expense just for fun. I’ve been doing this as a month-end ritual for several years. I love those months where I hardly spend anything on entertainment. It makes me feel good.

  • Big Cajun Man

    You must have been some surprising things, judging by your interviewers eyebrows…

    Keep up the Media Blitz!

  • My Own Advisor

    Hey Preet,

    Good interview. I liked the point about having indulgences but ensuring you have some surplus all the while.

    Keep up the good work man!

    Mark

  • gene

    I find this statistic confusing ($100,000 average household debt). I guess it makes sense when monitoring the change between measurements, but as an absolute statistic, I find it hard to quantify. I suppose if we attach an interest rate to that of say 8%, we get an idea of how onerous this debt might be.

  • Squawkfox (Kerry)

    You are so much fun to watch! Awesome interview. :)

  • Mike Holman

    Nice job, Preet!

  • SoloSailor

    Very good interview!

  • Patrick

    “It’s ok to have your little indulgences as long as you’re running a surplus.”

    Brilliant!

    Also, using an RRSP loan to get a tax refund to pay off credit card debt is a neat trick.

  • albert

    Thanks for sharing, I agree with a previous comment – these statistics are really quite alarming. Sensible advice in crazy times. Thanks.

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