For those who have experienced credit card debt know it is a stressful situation – but experts say it also comes with many lessons.
“We regretted it because we were in debt there for a while after racking up our credit cards,” a Sault native told CTV News.
“We went over to Credit Counseling and we used their services and paid off our debt.”
Another Sault resident said it didn’t him long to find himself “in the hole.”
“I got my first credit card, eligible up to 2,500. I maxed that out in probably three months.”
The 23-year-old is in the process of paying off that debt and said he has received some good advice since then.
“They told me whatever you spend on your credit card to just immediately pay it back with your cash or your debit,” he said.
Grisé said with the right habit changes and a plan from someone like himself, some can eliminate their debt in as little as nine months.
Though swiping or tapping a credit card may be easiest when shopping, he said it is not how financial experts recommend you do it.
“They can do more harm than good,” Grisé said.
“And if you want a little bit of education, if you use credit or debit, you’re going to spend 13 per cent more than if you use cash.”
Debt experts said that while everyone’s financial situation varies – if a person owes more than $5,000 or has been trying unsuccessfully to get out of debt for more than two years they may want to seek help and talk to an expert.
NDP Leader Jagmeet Singh is pushing for special rapporteur David Johnston to 'step aside' from his role examining the issue of foreign interference before he embarks on public hearings.
Public Services and Procurement Minister Helena Jaczek says the Liberal government expects to have a plan for the future of 24 Sussex Drive by the fall.
Conservative Leader Pierre Poilievre has failed to persuade the House of Commons to condemn the Liberal government's approach to fighting drug addiction.
New Democrat MP Jenny Kwan said Monday that Canada's spy agency has confirmed her long-held belief she is being targeted by the Chinese government, as the prime minister granted the NDP's wish to allow more party members to review top-secret intelligence.
Canadian political leaders and parliamentarians are denouncing a new law passed in Uganda that imposes harsh penalties, including the death penalty, for certain cases involving homosexuality.
The body of a Winnipeg boy who fell into Sturgeon Falls on Saturday has been found following a desperate underwater search that lasted more than a day.
With the summer swimming season fast approaching, the Canada Safety Council is reminding people to be careful and take measures to prevent drowning, especially after three children died just days apart.
It's the end of an era for one sporting goods store at Bank Street and Laurier Avenue. The owner says a lack of foot traffic downtown is behind the decision to close a store that's been operating for 41 years.
The Sandy Hill Child Care Centre has an extra two weeks to get its new home up to code months after a fire destroyed its original site on Wilbrod Street.
The rural Oxford County intersection where an OPP officer and a school bus driver were killed Monday was less than a month away from becoming a four-way stop when the deadly crash happened.
It was a night of indecision at Waterloo region's catholic school board as trustees went back and forth trying to find the best approach to fill a vacant seat.
A new report to transit commissioners provides a high-level outlook on the financial challenges facing the bus system and suggests strategies to balance upcoming budgets including an increase to bus fares.
Police in Elgin County are asking for the public’s help in identifying a man and his pet dog after the dog repeatedly bit and injured a 62 year old while in a conservation area on Monday.
A man and a woman are facing multiple charges after they allegedly brandished a handgun and made threats against a victim in an east London, Ont. home over the weekend, police said.
Windsor city council voted Monday in favour of adopting a master plan with high hopes for City Hall Square and a so-called civic esplanade stretching down to the river
A united front was on full display Monday as community leaders, politicians, business people, unions and educators gathered together at Windsor City Hall to ensure the NextStar Energy battery plant deal gets closed.
Doctors in their final year of training, called residency, can choose to do a one-month rotation at the Shelter Health Initiative (SHI) caring for Windsor’s homeless population.
Carla White is the only remaining tenant in her building, which is slated to be demolished to make room for a 176-unit condo project. But in order to move forward, the developer must reach an agreement with White -- and she says she won't leave until she's provided with a home that offers the long-term stability she needs to ensure she won't end up back on the streets.
Montreal police (SPVM) are investigating yet another suspicious fire. Two cars parked in front of a commercial building in Montreal East were engulfed in flames in the middle of the night on Tuesday.
The union representing the majority of Quebec's daycare workers is criticizing the government's decision to launch a skimpy 90-hour training program for people who want to be daycare workers but have no prior experience.
Approximately 200 homes or structures have been damaged by the wildfire that began burning Sunday in the Upper Tanatallon, N.S., area, according to preliminary estimates.
A Winnipeg family is asking for help to find their missing teenage son whom they haven't seen since he left for school in the Fort Richmond area last Wednesday morning.
The body of a Winnipeg boy who fell into Sturgeon Falls on Saturday has been found following a desperate underwater search that lasted more than a day.
One long-time electoral tradition came to an end on election day, when Postmedia announced there would be no printed newspaper announcing the winner in Calgary.
Over 170,000 elementary and high school students weighed in on the Alberta election and the NDP had to hope the real voters were listening, because they won the kids' vote.
On Monday, Fraser Health provided two senior leaders to address the latest letter outlining risks to patients, allegations of muzzling, and pleas for help from emergency physicians in the health authority's hospitals.
The president of the BC Trucking Association is issuing renewed calls for safety after a trailer truck smashed into an overhead pass Monday morning in Langley.
