The average amount of debt Canadians now hold rose significantly to about $93,000 in June from $76,140 a year earlier, according to a recent report released by the Bank of Montreal.  The report which looks at major contributors to overall household debt in the country, found credit card debt and mortgage debt listed as the top two types.

Of the Canadians surveyed, 80 percent said they are in debt.  While the percentage stayed the same as last year, so-called “smart purchases” such as home purchases, home repairs/renovations and education expenses topped the list of debt sources for Canadians.

The average amount of debt Canadians now hold rose significantly to about $93,000 in June from $76,140 a year earlier, according to a recent report released by the Bank of Montreal.  The report which looks at major contributors to overall household debt in the country, found credit card debt and mortgage debt listed as the top two types.

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