While Canadians say paying down debt is a top priority, recent polling by RBC shows in reality we're carrying more personal debt.
Average personal debt of people surveyed has risen to over $13,100-dollars.
Richard Goyder is the vice-president of Personal Lending for RBC: He says the debate about whether or not the debt Canadians are carrying is time-bomb for a shaky economy is a more personal than national question.
"At the end of the day, that debt is made up of a lot of individuals and families who have debet themselves. And the question is, 'At the level of your own family, at the level of your own household, can you afford the debt that you're carrying?'"
Goyder adds some debt is 'good debt' -- like student loans, where you're improved education or skills will mean you can earn a higher income.
He advises people carrying a lot of personal debt to examine what types you have, and follow the "golden rule" -- pay off the debt with the highest interest rate first.
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