The Organization for Economic Co-operation and Development has lowered its forecast for growth in Canada and also globally as new investment remains sluggish, unemployment high, and consumers reluctant to spend.
The Royal Bank of Canada (RBC) published its Canadian Consumer Outlook for 2013. It found that the GDP will beat expectations, but it also discovered that a lot of Canadians are already creating New Year's resolutions for 2013 for their finances.
Last week a Canadian man paid off the remaining balance on his student loan, a total of $114,000 ─ in cash. At the time the story circulated on social media, the man's identity was not known, but this week he has been identified.
A new published study shows that a strong majority of Canadians were able to stay on budget during their holiday spending bonanza. Almost one-third went over their budget by an average of $467, up $38 from a year ago.
A new study found out that Canadians are saving less than one year ago, but more than half are maintaining a budget. With reports of increasing household debt, Bank of Canada Governor Mark Carney says that can be a risk to the nation's economy.