Paying down debt top priority for Canadians in 2014
Paying down debt, managing bills and building savings are top priorities for Canadians according to a recent poll.
For the fourth year running, Canadians are saying that paying down their debt is a top priority in the new year. A recent CIBC poll shows that 16% of respondents indicated that reducing debt was their top financial focus for 2014. Managing budgets, building savings and retirement planning were also listed as top financial resolutions for a number of respondents.
For those hoping to reduce debt loads in 2014, experts strongly recommend implementing a plan and a detailed budget. As Christina Kramer of CIBC said, "While the intent to reduce debt is clear, we also know that some Canadians are not yet making the progress they want to on reducing their overall debt levels, which speaks to the importance of having a clear action plan in place to reach your goals in 2014."
Click here to read the full article from the Globe and Mail.