The Top 5 Financial Changes of 2022
23 Dec 2022
What a year for Canadian finances. Join us as we countdown the New Year by reflecting on five of the biggest topics in consumer debt and personal finances from 2022.
In January, inflation was 5.1% year-over-year. It continued to rise and fall throughout the year, eventually landing at 6.9% in December.
2022 started with an interest rate of 0.25%. After six increases, the rate now sits at 4.25%.
The CRA sent out over 300,000 letters requesting the repayment of CERB benefits.
Retailers can now pass credit card surcharges onto consumers, resulting in 1.5-2.5% more at the till.
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If 2022 has been a financial challenge, it might be time to contact a Licensed Insolvency Trustee (LIT). Our debt professionals can create personalized debt solutions that meet your financial goals and set you on the road to debt freedom. If you’re ready to leave debt behind, call 1-844-4GT-DEBT today or book online for your free consultation.