Kelowna News

B.C. credit expert offers advice leading up to holiday shopping season

Image Credit: istockphoto

November 30, 2015 - 8:39 AM

VANCOUVER - The head of British Columbia's Credit Counselling Society is offering a word of warning in the lead-up to the holiday shopping season.

President Scott Hannah says holiday expenses should be planned and on budget.

Hannah says the average British Columbian has a non-mortgage debt of $25,000, which includes lines of credit, loans and credit cards.

Shouldering that level of debt could spell trouble if mortgage rates increase, he says.

Hannah says a rise in debt levels is also happening alongside a decline in spending rates.

He says Canadians are floundering when it comes to managing their savings and meeting other financial goals.

News from © The Canadian Press, 2015

iN RESPONSE: Readers have their say
Following are emailed reader responses to stories or letters to the editor for the third week of April 2024. They have been edited slightly for readability. Got something you want to add? Send an email to editor Marshall Jones at mjo

Fruit packers near Kelowna fined another $78,000
A fruit packing plant in the Ellison area east of Kelowna was hit with another $78,368 in fines for discharging effluent into a failed septic field. That’s now more than $110,000 in fines since 2022 for the same issue at Sandher Fruit

Penticton business set to launch cannabis consumption patio on 4/20
A Penticton cannabis retailer will be opening its consumption patio this weekend and the owner says it'll be the perfect spot for customers to safely enjoy a toke. Cannabis Cottage is hosting a launch party for its all-new designat

Thousands of short-term rentals in B.C. go back to long-term May 1
LANGLEY, B.C. - British Columbia Premier David Eby is warning real estate investors and speculators that his government is tilting the rules towards families seeking homes as it tightens the rules on short-term rentals. Eby said Thursday th

Lemonade stand sparks overwhelming support for Kamloops family
The old adage “when life gives you lemons, make lemonade” never made more sense for a mother of three in Kamloops. Cara English’s daughter set up a lemonade stand to raise
April 17, 2024 7:00 AM
Kelowna winery says accountant took almost a half-million dollars
The owners of a Kelowna winery and golf course allege their former controller took nearly $450,000 in just 30 months on the job. The Turton Group, which owns The View winery as well as Orcha
April 15, 2024 6:00 PM
North Okanagan murder suspect tried to return to family home after release: daughter
Family of North Okanagan woman Tatjana Stefanski, who was found dead yesterday and presumed murdered, say they are dealing with grief, but also some fear and anger. In a social media post, h
April 16, 2024 1:34 PM
RCMP tight-lipped about serious crime investigation at Kamloops home
RCMP investigators have been at a North Kamloops home since late last week, but police are tight-lipped as to why. A Kamloops RCMP forensic team along with members of the serious crime unit
April 16, 2024 3:04 PM
North Okanagan family 'aren't safe' after murder suspect released
A North Okanagan man whose partner was abducted and killed says he doesn’t feel his family is safe after police released the suspected killer. Police have released Vitali Steffan, also
April 16, 2024 6:00 PM

View Site in: Desktop | Mobile