A $$ Conundrum: “No, don’t take it. Yes, take it.”

Put the following statements into the air space inside the average Canadian’s head and watch a conundrum occur... or a wee explosion of sorts.

One. Canadian policy makers warn Canadians against taking on too much debt.

I don’t know how the message is being delivered, but I guess it’s out there, at least according to my local newspaper.

Two. In Canada, many mortgages and consumer loans are at historically low rates.

Really, inside the lunch bucket I call a head I hear conflicting thoughts. “Gord, don’t take on more debt. Wait a minute, money is cheaper than ever before. Don’t take out a loan. But it’s so cheap. Stand back. Come here. Go away. Come back. No. Yes. Kiss me. Yuck.”

It’s like the conundrum described in ‘Where Did Our Love Go?’, a famous song by The Supremes.

Sing it with me with help from YouTube:

Baby, baby
Baby don't leave me
Ooh, please don't leave me
All by myself.

I've got this yearning, burning
Yearning feelin' inside me
Ooh, deep inside me
And it hurts so bad.

You came into my heart
So tenderly
With a burning love
That stings like a bee.

Now that I surrender
So helplessly
You now wanna leave
Ooh, you wanna leave me.


Ooh, baby, baby
Where did our love go?
Ooh, don't you want me
Don't you want me no more?

Really? The banks don’t want us no more? The heads of average Canadians will likely soon explode.

However, since I believe many Canadians will face even greater debt concerns in the future than they are at present, I suggest we face the conundrum in the following ways:

Though money is very cheap right now, make every effort to live under your means.

So, reduce spending, pay down debt, save money for the tough times ahead.

Stay in your apartment or small house. Think about getting a roommate to help with expenses.

What will you do to survive financially?

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