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Canadians Paying Off Their Debt The Good Old-fashioned Way - Spending Less: RBC Poll

Stocks in this article: RY

Taylor offers the following tips on getting financially fit:

  • Get to know your debt: credit cards, loans, lines of credit - how much do you owe?
    • Online calculators such as the Debt Reduction Plan are available for you to get a better picture of your exact debt figure.
  • Schedule an appointment to speak with an Account Manager.
    • An Account Manager is your best tool to help provide unique solutions for you to work on your financial fitness.
  • Look at your options: what do you think makes the most sense for you to manage debt?
    • Ask yourself: What are you most comfortable with and what is the best way for you to pay off your debt? A consolidation calculator can help you determine what's best for you.
  • Make a plan to reduce your debt and stick to it.
    • Like any fitness plan, this is no different: you need to stick to it to see results.

About the 3rd Annual RBC Debt Poll The RBC Debt Poll was conducted by Ipsos Reid. Data was collected from August 22 to 27, 2013. The online survey is based on a randomly selected representative sample of 2,108 adult Canadians that was statistically weighted by region, age and gender composition according to the Census data. The results are based on a sample where quota sampling and weighting are employed to balance demographics and ensure that the sample's composition reflects that of the actual Canadian population according to Census data. Quota samples with weighting from the Ipsos online panel provide results that are intended to approximate a probability sample. An unweighted probability sample of 2,108, with 100 per cent response rate, would have an estimated margin of error of ±2 per cent, 19 times out of 20. The margin of error within subgroups of the sample will be higher.

About RBC and financial advice, tools and resources All Canadians can visit the RBC Advice Centre  rbcadvicecentre.com for guidance on how to handle their debt. Interactive tools and calculators, such as the  Debt Reduction Plan and  Debt Consolidation Calculator, provide customized information covering all facets of saving and using credit. For RBC personal banking clients, an online financial management tool,  myFinanceTracker, is available at no cost to create a set budget and track their spending habits.

SOURCE RBC

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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