(Newswire.net — June 3, 2014) Mississauga, Ontario — When asked why he would create a program accessible to all Canadians with no financial barriers, he responded “These people need help!! Poor knowledge of financial options, Constant bombardment of “No Interest”, No Payments” and a struggling economy are but a few reasons why Canadians cannot efficiently handle their debt; it is help they need, not more credit”.
The lower but still disproportional debt-to-income ratio of 164% in Canada can shrink considerably, if Canadians are well-informed of their available options with regard to mortgages, debt management, debt consolidation and credit score repair.
Canadians’ debt-to-income ratio has fallen from 164.2% to 164% in the last quarter of 2013. It is forecasted that Canadians’ wealth increases since they are becoming more debt-conscious consumers who review their options and only make wise decisions that don’t put their finances at risk. Mr. Schanck reveals that “Despite this improvement, there is still a lot more that Canadians can do to safeguard their Cash flow, credit score and secure a more promising future for themselves and their families.”
With credit growth slowed-down, Canadians are now in a better position to tackle their financial issues and achieve better debt management. While the 164% debt-to-income ratio has decreased, it still has to further shrink. With a comprehensive awareness of their financial options, Canadians can make judicious financial decisions.
The net worth among Canadians households is said to have increased by 3% in the last quarter of 2013 which is largely attributed to the property value increase of 1.6%, Stats Canada is reporting.
We are starting to see a stabilization of debt, as consumers become more knowledgeable in how to manage their finance. To further assist them in their finance management, Darcy Schanck is providing a no cost, open to all, educational program which touches upon thorny issues Canadians are struggling with, including debt management and debt negotiation, fixing one’s credit score and choosing the best mortgage deal for the first and second mortgage, among other important topics.
The educational videos explain in easy-to-follow language many of the available financial options Canadians can make to keep their finances in a healthy state and secure better deals with financial institutions and insurers where a good credit score is key.
Mr Schancks’ Free Financial Video information sessions will be broadcast via Google Hangouts and uploaded to his youtube account. To have access to the upcoming events you can add him to your circles in Google+, or subscribe to his Youtube Channel.