We Owe $1.64 For Every Dollar We Spend

Stats Can Says Debt-to-Income Ratio Went Up

Stats Can says for every dollar the average Canadian earned over the last three months, we owed $1.64. They’re saying the debt-to-income ratio rose last quarter to 163.4 per cent. The bean counters over at Statistics Canada say household debt rose 1.4 per cent in the quarter, while disposable income climbed 0.8 per cent. As of September, all of us Canadians combined owed 1.84 trillion dollars.