For most people, the first step is to look at how to repay that debt as quickly as possible.Cheng Song Tse/iStockPhoto / Getty Images
Q: What is the fastest way to pay off my high-interest credit card debt?
We asked Navdeep Brar, adviser at Sun Life and Momenta Financial Strategies Ltd., to answer this one.
A survey in early 2024 by the Ontario Securities Commission in partnership with Ipsos found that approximately 35 per cent of Canadians over the age of 50 were carrying active credit card debt at that time. In other words, this is a fairly common concern as people look forward, financially, to life in retirement.
According to Mr. Brar, the right answer to your question will depend on a variety of factors….