Mortgage Doesn't Mean Debt

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Canadians today that have a mortgage feel much more calm about owing money as opposed to their elders or parents.

In a recent survey conducted by Manulife, it was found that close to 70% of young Canadians feel good about having an outstanding mortgage and still be debt free. This same survey also showed 40% of homeowners are more comfortable with debt as compared to their parents. Perhaps their is a difference between the generations.

In looking at the optimistic views young Canadians have, Jason Daly, vice president of products and marketing at Manulife says that lower interest rates have made Canadians a little more at ease with their ability to manage debt.

An essential understanding and balancing of debt is necessary as well. Young Canadians are more optimistic about debt, because they learned from their elders the tricks and the trade towards managing their debt while holding a mortgage. While the household is one place, schools also are slowly offering more business courses at the high school level for students to better understand their finances.

Debt management is very important when it comes to buying a home and when it comes to life. Keeping track of your finances and saving that extra penny at the end of the day can help towards keeping track of your debt.

For more info check out the link below.
70% in their 20s don't consider a mortgage a debt



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