Canadians are ramping up debt, here’s how...

Turns out Canadians are ramping up more debt this year, despite an economic downturn, this all coming out in a new report released this week. Total debts owed by Canadians jumped 4.9 per cent in June compared to the same month last year, to $1.84 trillion. That’s the fastest pace of debt growth in more than two years, a new report from RBC Economics said Wednesday. “Despite the weak economic performance in Canada … households continue to ramp up their reliance on borrowing,” Laura Cooper, an economist at RBC, said. — Global News The word ‘debt’ has such a negative connotation to it, most people…