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2022 | 48 Oakville Beaver | Thursday, November 10, insidehalton.com NOTICE OF ROAD SURE Dundas Street (Reg. Rd. 5) Improvements, Appleby Line (Reg. Rd. 20) to Tremaine Road (Reg. Rd. 22), in the City of Burlington op a RATT! ae en (REG RO Project number: PR-2672B To support improvements to the Tansley Bridge, Dundas Street will be temporarily closed from Sutton Drive to Tremaine Road on weeknights starting November 21, 2022. Closures will take place Monday to Friday (including Friday night) from 9 p.m. to 5 a.m. These closures are scheduled to end by December 23, 2022. SRIVINDHYA KOLLURU As high inflation forces e Canadians to pile on debt to cover basic living expenses, it's important to know that not all debt is Access for local residents and emergency vehicles will be maintained at all times. bad. Unfortunately, debt is Transit users can expect delays and longer than usual travel times ‘through the affected area. Please visit for more information. For more information about Regional improvement projects: 2 Buildin unavoidable for many Ca- + visit halton.ca; ConsTrucION 2 Batter nadians, but there is a dif- + sign up to receive email notice and updates; or Halton ference what's tween msidered "good" debt and “bad” debt. Jason Heath, certified fi- + email accesshalton@halton.ca or call 311. nancial planner at Objec- tive Financial Partners, ex- plains that good debt is when you borrow money to buy assets that tend to in- crease in value over time, which can help build Honouring our nation’s heroes Each year in November we reflect on the courage of Canadian veterans and soldiers, including our Indigenous veterans who have served and protected our rights and freedoms. We remember all those who sacrificed their lives in the World Wars, Korean War and War in Afghanistan, and in ongoing peacekeeping missions and exercises. On Remembrance Day (Nov. 11) and National Indigenous Veteran’s Day (Nov. 8) that passed, we honour the bravery and sacrifice of all members of the Canadian Armed Forces, both past and present. Gary Carr Regional Chair wera can include bor- rowing to buy a house, in- vestments or a rental prop- rty. Such loans often have Meetings at Halton Region tax-deductible interest, like Regional Council meetings are taking place through web conferencing until further notice. Videos will be posted to halton.ca. when you borrow money to ; invest in stocks, bonds or i,, Please contact us,as soon as possible, if you have any accessibility needs at Halton Region exchange-traded funds © events or meetings. Bad debt is the kind that comes with high interest rates. IS TAKING ON DEBT ALWAYS BAD? OR IS THERE SUCH A THING AS ‘GOOD DEBT’? @TEs) in a taxable ac- "Another example is pur- chasing a property for rent- al purposes. "The mortgage interest you pay monthly would be tax deductible against the rental income,” explains Heath. In some cases, student loans can also be a fc good debt. "If you're oe rowing money to pursue a program that will all low you to earn a higher income and has good job prospects, I would argue od. debt,” says Heath. Jessica Moorhouse, an accredited financial coun- sellor and host of the More Money Podcast, explains bad debt is when you bor- row to buy things that de- crease in value over time, like most consumer goods — especially if that debt comes with high interest rate: Bad debt includes bor- rowing on your cre which can have an interest Dreamstime photo rate as high as 20 per cent or ing 540 pe cent on an annu- alized basi “According to house, uns credit with interest rates above the current average of 7 per cent are also consid- ered bad debt, and should be avoided. Moorhouse says people mainly resort to credit cards or pay¢ loans be- cause they don't have suffi- Moor- ines in emergency should bea priority to avoid bad debt. "There are times when people are going to go back- wards rather than forward in their journey to financial independence,” says Heath. “But living within your means, budgeting, forecast- your income and ex- penses, even if it's just fora few months, can help you avoid surprises."