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Cross Country Checkup·Sunday on Checkup

What impact is debt having on your life?

Inflation and Interest rate hikes are making digital wallets a lot lighter, with personal and business bankruptcies way up.

How did you get out of it? Call us: 1-888-416-8333

CBC Radio ·
In an attempt to wrestle down inflation, the Bank of Canada raised its benchmark interest rate by 50 basis points to 3.75 per cent (Shutterstock/Stefan Malloch)
1:53:00FULL EPISODE: What impact is debt having on your life? How did you get out of it?

Inflation and interest rate hikes are making wallets a lot lighter, and the debt is mounting for Canadians and their businesses. According to a report by Statistics Canada, Canadians now owe $1.82 for every dollar of disposable income they have.

And in an effort to combat inflation, the Bank of Canada raised its benchmark interest rate in October by 50 basis points to 3.75 per cent. But even as inflation cools, food prices continue to rise, putting further stress on people's finances. 

Our question this week: What impact is debt having on your life? How did you get out of it? 

Plus, this week's Ask Me Anything is with comedian Ali Hassan. Hassan is a CBC host and author of the new memoir Is There Bacon in Heaven?. He'll be available to answer your question. 

Join host Ian Hanomansing on CBC Radio One and CBC News Network. Call Checkup at 1-888-416-8333, send an email or find us on Facebook and Twitter.

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