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Pinched by Debt

How much do you owe? Do you tell anyone?...or even admit it to yourself? 

 Ignoring it is dangerous and the best way to get a handle on it is to  write down what you owe, what you spend, and start paying it off. 

"Pinched" columnist Shiral Tobin tries to figure out what she can afford to borrow with accountant and author David Trahair

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We all hear there's "good debt" and "bad debt" but all of your debt should be paid off by the time you retire. Have you done the math?  Many have not since the average Canadian owes $25-thousand dollars in consumer debt (credit cards, car loans, student loans, and lines of credit). That's not including the massive mortgages the lucky ones have.  Minimalist Mom Rachel Jonet confronted her $80-thousand dollar debt two years ago and now lives debt free.  She says much of her debt payment came from cutting lifestyle luxuries.  Don't be ashamed if you've got debt.  But face it, so you can start paying it off.  Charging a bunch of Christmas gifts you can't afford doesn't help you OR the economy.