Vancouverites lead nation in consumer debt

Рет қаралды 17,753

CityNews

7 ай бұрын

A new study from Savvy New Canadians fines consumer debt has surged by more than 17 per cent 2019.

Пікірлер: 87

@sharinglungs3226 7 ай бұрын

Yesh, stop asking boomers for financial advice. I can’t believe this guy actually suggested cutting back on your subs. So someone can buy one more bag of apples per month, now what Boomer? How exactly is that going to help afford the cost of housing which for many is well over half their net pay.

@ShitWrangler 7 ай бұрын

I'd invest in your local pub, going for nightly meals and drinks, and then... profit?!?!? Canada subsidized an entire welfare boomer groomer generation. Say N-O to C-P-P

@AfterKnightShine 7 ай бұрын

Why are they always talking about streaming services to save money?! Not that it costs as much as carbon tax in your home heating or rider fees in your electricity. Geez. Perhaps give a better example on how to save money.

@ryder4508 7 ай бұрын

It's the easy scape goat: "It's not the rent. It's not the high energy and grocery prices. It's not the corporate greed. It's because you're subscribed to 3 streaming services. Either that, or it's the avocado toast".

@RyantheCanuckpirate 7 ай бұрын

Yeah that's crazy. What's Netflix/Disney+ these days? 15 bucks a month? I think Disney+ is less if you buy a 1 year subscription. And streaming services are a way more efficient use of entertainment money than traveling/restaurants/concerts/movie theatres etc. So if cutting 1 streaming service out is something that makes a difference, then our entire society is in trouble

@purple7vi0let 7 ай бұрын

When rents and grocery prices are so high… what else can we expect ????!!!!! And I’m in Mississauga, but I’m sure it’s right around the same in Vancouver!

@dougpatterson7494 7 ай бұрын

Leaving Vancouver seems like a good idea. In hindsight I’m kinda glad it didn’t work out to go to university at UBC. I can actually afford a house in my prairie city, no chance in Vancouver.

@johnnyboyvan 7 ай бұрын

No debts for me. Amen 🙏 Second hand furniture...check for bedbugs.

@stephenn88 7 ай бұрын

Up skill and find a better pay job

@jimmytran244 7 ай бұрын

People are living well above their means, shopping for toys/clothing and going out having dinners/drinking when they shouldn't be...

@betweenthepines4000 7 ай бұрын

Good ol’ saying, champagne taste shoestring budget. Classic Vancouver and the status quo

7 ай бұрын

Immigrants get to play with this free money and credit, if they fail they go home better off as before. Its like monopoly money to a child meaningless to them.

@12345678hgjghjvg 7 ай бұрын

No way, this is needed. this is why all Canadian paid more than $3K concert ticket for taylor swift

@bighoss7437 7 ай бұрын

Life is short, here for a fun time not a long time.

@sharinglungs3226 7 ай бұрын

More like trying to distract themselves from a sh*t system. If they lived well below their means and spent on the bare basics it won’t get them any sooner into a home when real estate appreciates faster than they’re saving.

@Sanchuniathon384 7 ай бұрын

Disney plus subs don’t change the fact that renting a 1 bedroom in Vancouver is $2000 more than in 2019.

@jaschan2006 7 ай бұрын

Last I checked a 2 bedroom is $3,700 per month. How much was it in 2019?

@12345678hgjghjvg 7 ай бұрын

No way, this is needed. this is why all Canadian paid more than $3K concert ticket for taylor swift

@user-zq6wq3sk3r 7 ай бұрын

😂 dont you get it they got you enslaved in your own debt keep borrowing and your grandkids will be enslaved also

@en6075 7 ай бұрын

And the best way to save money in Metro Vancouver is to leave the region. It is a very nice region but too expensive. Since the Chinese and Indians came in to wash dirty money it just blew up becoming the most unaffordable place in Canada

@sharinglungs3226 7 ай бұрын

The one thing not mentioned in this video. When you allow the world to buy up your real estate don’t be surprised the locals can barely afford to live there. The Canadian governments on all levels failed the citizens.

@user-zq6wq3sk3r 7 ай бұрын

@sharinglungs3226 100% right

@user-zq6wq3sk3r 7 ай бұрын

@@tomhook4819basic economics, if we ban foreign ownership we can lower prices for citizens

@andrewteasdale8999 7 ай бұрын

My rent is 400. So I can send money to my daughters and save. Fighting off bedbugs and cockroaches plus living so close to Vancouver's Jungle Central. But I am happy on my little room in China Town and have zero debt. Bloody prices though. It's insane. Something is going to break.

@user-zq6wq3sk3r 7 ай бұрын

living in a closet and eating rice aint good for you. i understand your daughters need food as well, but this is degrading canadian standard of living. foreign ownership must stop.

@andrewteasdale8999 7 ай бұрын

@@user-zq6wq3sk3r yes! You are right. I will soon be making a move. Wish me luck!

@rickallen9099 7 ай бұрын

So this guy basically just went to the Disney+ example. C'mon, come up with something new already. This isn't helpful advice

@laurafulton7023 7 ай бұрын

There’s barely a Canadian left in overcrowded Vancouver

@gregfrie1458 7 ай бұрын

When I left alot left

@user-zq6wq3sk3r 7 ай бұрын

how about producing something instead of importing it. GDP depends on productivity and houses and immigration are finite until its not worth it. 20 ppl in a house is degredation of quality of life standards in third world nations thst get imported here thus degrading our quality of life.

@laurafulton7023 7 ай бұрын

Shouldn’t Canadian homes be owned and occupied by Canadians?

@brockroth 7 ай бұрын

You'd think but our government loves selling our real estate to either the rich or foreign investments. Now we are paying the price, it's only gonna get worse.

@sparker.24 7 ай бұрын

yea theyd have to be willing to work first and not be lazy🤣🤣

@maestrovso 7 ай бұрын

Yes, the Eskimos.

@brandonmacdonald7802 7 ай бұрын

What difference does that make when they're letting in anyone with a heartbeat??

@maestrovso 7 ай бұрын

@@brandonmacdonald7802 Starting with the Anglo-saxons.

@user-zp7jp1vk2i 7 ай бұрын

unlike other economic turns which didn't include inflation for decades, THIS economic scenario you can't spend your way out of, assume that every year you'll get a raise/benefits increase, AND an increase in your condo/;home value. CC's stay high interest not matter how good your credit is, especially if you're not a home owner. I sold, and my zero blem credit is still impacted and if I wanted a loan, the interest is too high. So I stay debt free, thanks to time I can do that. Young people can't.

@jassy583 7 ай бұрын

The question is how was debt given . The answer is mortgages given on fraud income documents. The question is how did people had down payment to buy houses and fet into debt. The answer is money laundering . The question is how do we stop financial fraud in Canada. The answer is regulators I.e financial regulators osfi, fintrac , goverment needs a wake up call in 2024 to stop financial crime in Canada for overall wellbeing of canadians

@djayjp 7 ай бұрын

🙋‍♂️ Guilty as charged.

@laurafulton7023 7 ай бұрын

Economic Warfare at its finest

@ryder4508 7 ай бұрын

All you need is do is cancel Netflix, and all your money problems will be solved.

@Rafael-tj8mf 7 ай бұрын

Take a look around, everyone is broke!

@shaq9361 7 ай бұрын

everyone looked pretty rich in the video. everything is fine

@maestrovso 7 ай бұрын

But they all living large like Arab sheiks. 🤑👑🤴🐫

@x-men69-96 7 ай бұрын

I thought this is India, not Canada

@berry1669 7 ай бұрын

you dont have to live in downtown Vancouver - here in Surrey its half price

@brandonmacdonald7802 7 ай бұрын

FR Who wants to live in Surrey? 😅

@jeepstuff4004 7 ай бұрын

lol there is a reason it’s cheaper lol 😂

@Dictone-kg3tq 7 ай бұрын

"Don't buy thing you don't need with money you don't have to impress people you don't like"

@stephenn88 7 ай бұрын

Don’t tell me how to live my life 😂

@luketarplin 7 ай бұрын

@@stephenn88stay poor then.

@wondereagle 7 ай бұрын

Just need to live with less.

@InGODweTrust007 7 ай бұрын

😂 Zero debt right here!

@jaschan2006 7 ай бұрын

Pay off your high interest debt, control your spending on discretionary things, have a budget, don’t try to keep up with the Joneses, and pay yourself first by socking away an amount. Bonus advice have the right attitude to also not look down on those who have less money than yourself as it could be you in their shoes someday! Your chart is a bit old from Q2 of 2023. That is a lot in a HELOC which should only be a safety net if you cannot make full mortgage payments.

@sharinglungs3226 7 ай бұрын

Advice that worked ten maybe fifteen years ago. The only way ahead is getting a better paying job and putting your money at risk in things like the stock market. System is broken.

@12345678hgjghjvg 7 ай бұрын

No way, this is needed. this is why all Canadian paid more than $3K concert ticket for taylor swift

@user-zq6wq3sk3r 7 ай бұрын

@@12345678hgjghjvg😂 no avg canadian can afford that. must be corp puppets supporting their satanic ritual puppet

@laurafulton7023 7 ай бұрын

Shouldn’t Canada be for Canadians?

@mjbgworld5594 7 ай бұрын

Instead of complaining because of high cost of living why not take a look at the basics and actually get a better understanding of 'wants' vs 'needs'? Re-evaluate your current lifestyle and live below your means. That's pretty much common sense personal financially speaking. IMO and based on some people I know the reason why they are in high consumer debt is because they are living way beyond their means and use debt to be more in debt unfortunately.

@JessT-vg7ib 7 ай бұрын

People need to learn to pay off their debts...shame on you Canadians.

@brandonmacdonald7802 7 ай бұрын

I have no debt but I can sympathize with people who do. Life is expensive as it is, especially with a family. Housing costs, Unexpected expenses, clothing, feeding your family, extra-cirriculars all stretch people so thin. When people want to splurge and buy something (which mind you, stimulates the economy), they are relying on debt to do so. A tv purchase, going out to a hockey game, going on a vacation, are all normal things familys do. This government, and all Canadians need to wake up and realize that exploiting our natural resources and manufacturing real tangible things are how we progress forward. We can't be a service and finance industry like the United States. It's unsustainable economically to do so. Remove the red tape and shut down the protestors.