Posted by & filed under Accounting Careers, Canadian Economy.

Description: With many out doing their Christmas shopping, fears of personal debt are often around the corner. The Toronto Star offered four tips to keep you out of trouble. Number one is decide what to spend, then cut that number in half.

Date:  December 2, 2019

Source:  thestar.com

 

Link: https://www.thestar.com/business/2019/12/02/four-smart-ways-to-stay-out-of-debt-this-holiday-season.html

Discussion points:

1) Have you developed a budget for your Christmas gift spending?

2) Which of the four tips do you find the most useful?

3) Wiley’s Financial Accounting: Tools for Business Decision-Making, shows us in the Accounting Matters inset box on page 535 that household debt in Canada was at 163% of household income when the text was published. Check the web to see if you can find if the rate has gone up or down since then.

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