Is it a dream or reality? Half of Canadians now in hock expect to be debt-free by 2017 and that includes their mortgage, a new Bank of Montreal study says.
In a Leger Marketing poll, 54% of Canadians said they expect to be debt-free in five years. The average current debt of Canadians is $112,329.
Men are more likely to carry large debt, with 30% saying they owed more than $100,000, compared to 22% of women.