When are lines of credit and personal loans a good idea?
At first blush, loans and lines of credit can seem like a friendlier credit card with their often higher limits and much lower interest rates. Who doesn’t like the sound of that?
March 7, 2019
6-minute read
These days, having debt is about as common as having a belly button. Every Canadian carries, on average, $22,837 in debt, according to Equifax Canada. And we’re also carrying more than just one form of debt.
About the author
Lisa is a senior editor in the personal finance space. Her work has appeared in Reader’s Digest, Toronto Life, Canadian Living and TVO. As a child, she diligently hoarded the $50 bills that fell out of her Christmas cards. Adult Lisa is working hard to resurrect those stockpiling tendencies.
