A lot of debt and no money

Survey finds nearly one-third of respondents didn't have enough money to live onBy The Canadian Press
TORONTO - Nearly one-third of Canadians that responded to a recent survey backed by a major Canadian bank said they didn't have enough money to cover living expenses.
An online survey completed for TD Canada Trust (TSX:TD) also found that 54 per cent of the 1,003 people who answered said it was a real struggle or impossible to save.
The report, released Wednesday, says that 38 per cent of respondents said they had no savings and 30 per cent said they didn't have enough money for their living expenses.
On the flip side, 30 per cent of the respondents said they had enough money saved to cover living expenses for at least four months.
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Comment: The culture of debt that has been spreading across the globe over the past couple of decades has produced a false prosperity. Payback time has come.