Inflation and heavy debt never go together
Mélanie, an employee of the fire department in Montérégie, earns a net monthly salary of $3,900. With her credit card balances of $14,000 and an $8,000 personal loan, her payments are $872 per month, or 22% of her salary. Unsurprisingly, Mélanie is struggling to make ends meet. “In the credit industry, it is recommended that …