The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

1 7 | Thursday July 2 0 , 2 0 1 7 | OAKVILLE BEAVER | www.insidehalton.com If interest rates continue to rise, it could get ugly for those who owe continued from p.16 m any w ill not be able to pay the interest on their debt. Nor w ill they have the necessary cash flow to pay off the debt itself. Is this serious? Yes. D epending on how m uch interest rates increase, it could be extremely serious for some. The irony is that w e have been warned a number of times by the federal governm ent and the Bank of Canada about excessive bor rowing. We have been advised to better manage our debt. The sim ple m essage is that debt can get out of control. Debt has to be paid off and too m uch debt can lead to extreme hardship. The hypocrisy of these warnings is the Ca nadian governm ent, as w ell as the Ontario governm ent, have been doing exactly the same thing that Ottawa has been advising us against. Neither of the levels of governm ent have been properly managed. D espite the grow ing am ount of debt, the two governm ents continued to borrow money. At the same time, they advised us to live w ithin our means. However, there is no indication they know how to live w ithin their means. Consum ers, as w ell as our governm ents, are knee-deep in debt. So here w e are in a bit of a financial pre dicament. If interest rates continue to rise, those in debt w ill suffer the consequences, and it could get ugly W hat is important to each and every one of us is to decide how w e w ill better manage our debt, starting now. D evelop a written plan on how you can decrease your debt. C heck to see if som e of your more expen sive debt, w ith the higher interest rates, can be converted to a lower costing debt. Consider this small increase in interest rates as a warning. Heed this warning and do your best to re duce or eliminate personal debt. -- submitted by Peter Watson, o f Peter W at son Investments and Aligned Capital Partners Inc. MBA, CFP, R.F.P, CIM, FCSI, Certified Financial Planner CAA Members can SAVE on auto and home insurance! Do you have th e right insurance coverage? A s a lic e n s e d C A A In s u r a n c e A g e n t, I can: · A s s e s s if y o u h a v e th e rig h t c o v e ra g e to p ro te c t you a n d y o u r fa m ily · C o m p a re y o u r c u rre n t p re m iu m to v a lid a te it's c o m p e titiv e · A d v is e yo u o f e x c lu s iv e C A A M e m b e r in s u ra n c e s av in g s D o n 't y o u w a n t to k n o w if y o u h a v e t h e r ig h t c o v e r a g e f o r t h e r ig h t p r ic e ? C a ll o r c o m e in f o r y o u r c o m p lim e n t a r y p o lic y r e v ie w ! Registration now open, but hurry, spots fill up fast. S a a d ia J a m a li 9 0 5 -8 4 5 -0 8 7 7 C A A S to r e - O a k v ille 360 Dundas Street East Making bad days good. And good days better.® Auto and Property Insurance are underwritten by CAA Insurance Company. Certain conditions, limitations and underwriting guidelines apply. ®CAA trademarks owned by, and use is authorized by, the Canadian Automobile Association. Making bad days good.And good days better. is a trademark of CAA Club Group. ( 1744 - 07/ 17) Visit o a k v ille ra n g e rs .c a to register and for inform ation on evaluation skate, season kick-off and gala dates. Insurance M O H A is a m e m b e r asso ciatio n o f t h e O n ta r io M in o r H o c k e y A s s o c ia tio n a n d H o c k e y C a n a d a . A ll coaches a re O M H A c e rtifie d