the Wealthy Canadian

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Entries from January 2009

The Credit Trap

January 5th, 2009 · 5 Comments

Joe, an average office worker, has been pre-approved for a $300,000 mortgage plus he has a three credit cards with a total limit of $25,000 and a constant bombardment for other ‘pre-approved’ cards.  Joe earns $48,000 per year at his office job as a pencil pusher.  After taxes and deduction Joe earns $3000/m.  Joe’s favourite [...]

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Tags: Economics · Planning