Debt Free In 30

Household debt to income levels in Canada continue to rise. We now owe $1.71 for every dollar earned. But, with no shortage of experts discussing the risks of high debt and how to repay it, why is it that we continue to spend? Why do we find it so hard to say 'no'? Are we just comfortable with debt now, as a society? To discuss these questions, I'm joined today by a panel of experts: Gail Vaz-Oxlade, Kerry K. Taylor, and Robert Brown. Using their years of experience and insight, we dig into why it seems no one is listening to debt warning signs. First off, should we even worry about debt? Let's say I'm someone who owns a home in Toronto. It's worth a million dollars today. My mortgage on the house is $500,000 and I make $250,000 because I'm a lawyer. My personal debt ratio is 2:1. But, that's not a big deal because the debt to income ratio includes mortgage debt. So, does it even matter if I owe so much? According to Gail Vaz-Oxlade, yes, it still does: When you are in debt, what you have done is eliminated y