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Contextual Module

Children and Youth in Canada - The Context of their Lives (module table of contents)

Section 4: Economic Inequities (section table of contents)


Implications

Being in debt is a very distressing experience that affects the entire family. Owing money limits a family’s purchasing power, financial flexibility, and financial stability. For children and youth, the burden of debt means that fewer resources can be allocated to fill their monetary and non-monetary needs.

By the end of 2011, the debt load in Canada stood at $103,000 per household. (This average includes households that have debt and those that do not.) While disposable income remained almost unchanged from 1990 to 2011, total household debt almost doubled.



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