With the US $1.33 trillion and the UK at £0.82 trillion, Canadians' have some of the highest debt at $1.94 trillion (figures have been adjusted inline with population).
There are numerous reasons as to why consumers get in debt. Car loans, mortgages, lines of credit are all ways most people get into debt at some point in their lives. Now not all debt is bad debt, if you're hoping for the perfect credit score that is.
So why do Canadians' have so much debt? Check out the infographic below:
What do you think? Is Canadian Debt as bad as it sounds or is it part of the Canada's growing population? Post your comments below or hit share on the bar above!
Having traveled to 20 countries, Aaron has seen the sights and loves to share with you his hints and tips on how to save you money everyday. In his spare time Aaron enjoys bike riding, hiking and of course searching for ways to sensibly save you money! Hit the Facebook and Twitter buttons to connect :)