SubscriptionsGo to the Subscriptions Centre to manage your:My ProfileCanadian household savings collapsed in the 1990s and debt levels rose to record highs in the 2000s, according to a preliminary report by the Vanier Institute for the Family.”For many families in Canada, the first decade of the 21st century brought unprecedented opportunity: these years witnessed continuous labour market growth, moderate rises in average household income, and a substantial upward shift in household savings rates,” said the report.”This decade, however, also brought with it never before seen growth in household debt. The 2000s can be labelled the decade of debt. In this same vein, the 1990s can probably be labelled the decade of the collapse of savings as annual savings plummeted by two thirds between 1990 and 2000.”The institute looked at Statstics Canada figures for spending and savings rates, as well as increases in incomes and household debt levels.Full storyHave you struggled with debt in the last decade? How do you manage?Take our poll:Financially, are you better or worse off than you were a decade ago?(polls)(This poll is not scientific.
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