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www.insideHALTON.com | OAKVILLE BEAVER | Thursday, July 3, 2014 | 12 THE GREAT GARDEN EVENT Our 4 week summer sale where the savings get bigger each week! Shop early for the largest selection. Can you afford to wait? Dollars & Sense 50% OFF July 3rd - 9th ONLY 2 WEEKS LEFT! T Managing personal debt here are early signs Canadians are starting to better manage their personal debt -- that is a bene t to all including those with none. Over the past several years, the high level of personal debt we have carried has posed a risk to all Canadians. Think of the Canadian economy as a small village where the actions of some affect everyone. Financial mismanagement in the form of excessive debt will hurt some and that pain will likely spread to others. The condo market in Toronto is a good example. If buyers stretch their nancial limit to buy a condo, what is the risk they take on if interest rates increase? Those who could barely afford to pay the high interest costs of a large mortgage will now face higher carrying costs when their mortgage term ends and an interest rate increase. Many will be forced to sell. Prices will decline when there are more sellers than buyers. Any decline in condo prices will likely lead to a decline of single-family houses, resulting in fewer houses being built or renovated. Less activity in the labour-intense housing market could cause unemployment, harming other areas of the economy as unemployed workers with less money reduce their spending. Economically , everything is connected. A decline in one area of the economy can quickly spread to other areas. Information released in June by Statistics Canada shows Canadians are beginning to better manage excessive debt. Total household debt had only a slight increase of 0.4 per cent -- the lowest in four years. Over the last 12 months, household debt increased 4.2 per cent, which is the lowest in the past 12 years. Mortgage debt accounts for close to two-thirds of debt, while consumer credit represents close to 30 per cent. This should be your focus if you have debt. Interest rates on overdue accounts can be 20 per cent per year or higher. A good suggestion is to pay down this most expensive debt as soon as possible. The good news for us all is the rush to maximizing debt has slowed down. The bad news is individual Canadians and the Canadian economy are still exposed to the risk of high debt levels. A good way to measure debt is to look at its relationship to disposable income. It is the income that allows you to pay interest costs of carrying debt. see Slow on p.13 Guest Contributor Peter Watson 60% OFF! July 10 - 16 FLOWERING TREES AND STANDARDS · FLOWERING SHRUBS · ANNUALS · PERENNIALS · LANTERNS PLANTERS · HANGING BASKETS · OUTDOOR POTTERY · HOME DÉCOR · PATIO FURNITURE · ROSES VINES · UMBRELLAS · 10" TROPICAL PLANTS · DOOR MATS · EVERGREENS · ANNUAL GRASSES DOOR CRASHERS $8.99 Fri. July 4th Ornamental Grasses - 2 Gal. Only 200 per store. Reg. $24.99 $5.99 Sat. July 5th Only 300 per store. Reg. $19.99 $7.99 Sun. July 6th Only 200 per store. Reg. $39.99 10"Million Bells Hanging Basket 10"Bougainvillea Mon. July 7th $9.99 Hydrangea Limelight - 3 Gal. Only 200 per store. Reg. $29.99 Looking for inspiration? Plant identification & placement, soil & planting preparation, new plant material, shopping tips... the TERRA Landscape Coach can help! Call to book an appointment today. OPEN 7 DAYS A WEEK: Mon. - Fri. 8am - 8pm, Sat. & Sun. 8am - 6 pm All items while quantities last, subject to availability. Category offers exclude "TERRA Essentials" Sale period: July 3rd - 9th Burlington (905) 332-3222 · Milton (905) 876-4000 · Waterdown (905) 689-1999 ·Vaughan (905) 832-6955 NEW LOCATION - Hamilton - 340 Highway #20, RR#1 (3 minutes east of Upper Centennial) (905) 692-6900 www.terragreenhouses.com