October 30, 2012

Every now and then the student loan issue pops up out of a deep silence, wags its tail, angers anyone who should dare criticize the government’s student loan program and then vanishes out of sight until the next time.

The topic of student loans is like religion or politics. You have believers and non-believers. Some believe that post secondary education should be free. Some believe that government can’t afford such a luxury. All it can do is lend money – to help the poor whose families can’t front the bill for college or university – and the poor should be grateful for the loans.

October 26, 2012

The Globe and Mail today commented on a study conducted by the Canadian University Survey Consortium of more than 15,000 Canadian university students completing their undergraduate programs that found almost nine out of 10 students had one credit card - and that 26 per cent have two or more cards.

Very interesting. Regardless of the many questions that such studies bring like, how do you get access to the student’s personal banking information (do you ask them?), students have and use credit cards, presumably like everyone else. The study doesn’t tell us what students use the credit cards for or how high the balances are or the interest rates they pay.

Rob Carrick in the above article goes on to blame the invasion of credit cards onto university campuses on bank advertising and our consumption-driven economy. Hum.

October 25, 2012

How long has it been? 6 months maybe since we’ve heard about consumer credit. What we’ve heard about is household debt and mortgages. And more or less the same message from government and the credit industry. “How we must avoid what happened to the United States housing market in Canada.”

And, you know what? Yesterday was the first time I heard someone highly respected from the credit industry, Helmut Pastrick from the BC Central Credit Union, comment that what happened in the United States was much different than in Canada. He correctly said that we have much better lending standards and regulations in Canada. Some of the mortgages that caused difficulties in the United States for both borrowers and lenders were as the result of fraud.

October 23, 2012
 
Can you believe it, the price of gas? I spoke to a relative in Ontario yesterday and complained about the price of gas being $1.31 per litre in Vancouver. He told me the price was $1.21 per litre there. I’ve listened to the supply and demand argument from the oil companies all of my life. They tell us that the demand is greater in Vancouver than a place like Abbotsford, 73 km away, when we find out gas is cheaper there.
 
When they decide to raise the price, that is the oil company executives or the oil producing cartel (Organization for Petroleum Exporting Countries), the existing oil they have on hand and purchased at the cheaper price goes up too - instantly. Do you not call that price gouging?

October 15, 2012

A very dear friend of mine truly reflects today’s cultural milieu. He’s divorced with two adult children, struggled for 20 years through the turbulent waters of a blended family, married a much younger woman (19 years younger), at 55 years of age he had a third daughter for whom he is the primary caregiver, now 8 years old, and he is an old age pensioner. Wow!

Remember, if you are experiencing financial difficulties do not wait. Call Solutions Credit Counselling at 1(877)588-9491 or fill out our Debt Consolidation Questionnaire and get your Free Credit Counselling Advice today.

For more information visit Debt Canada - your Canadian credit education centre.

If you are a woman in debt, speak with Women and Money first. We specialize in helping women with their personal and business financeMoney management advice you can count on!


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