As Canadians, we’re known as a nation of polite, peace-loving, funny folks. Here’s another adjective to add to the list: indebted.

And while that may not prompt you to lose any sleep since debt is an ordinary fact of modern life, our numbers are climbing to levels that some might call dangerous. Recent data from Statistics Canada shows household debt at a record high of 178.5 per cent in the fourth quarter of last year. To put this in perspective, the ratio of household debt to personal disposable income was 66 per cent in 1980. Today’s numbers mean there is nearly $1.79 in credit market debt for every dollar of disposable income.

Our dependence on debt to pay for homes, post-secondary educations and other high-priced items has also affected the reverse mortgage market, sending this debt through the roof. According to Better Dwelling, reverse mortgage debt is growing at ten times the annual pace of regular mortgage debt and has almost tripled in the last five years. As of January, reverse mortgage debt stood at $3.51 billion, a 30.44 per cent hike when compared to a year ago.

In theory, reverse mortgages sound like a great scheme. Home owners 55 and older can borrow from the equity they’ve built in their own homes, either as a lump sum or in scheduled payments. Many think this type of loan is similar to a home equity line of credit (HELOC) and it kind of is but with one very significant difference: you don’t have to pay it back until you die, default or sell.

There is another significant difference: Unlike HELOCs, the interest rate on reverse mortgage debt is much higher. There is no need to worry about eating up the equity in your home if you have no plans to leave your worldly goods to anyone. But if you have children, a loved one or perhaps a charity in mind, you may need to consider other options.

The other consideration to take into account is the fact that interest rates are currently so low they have nowhere to go but up, according to Better Dwelling. So imagine you have this increasingly expensive debt as interest rates start to rise, costing you more of your equity with each uptick. At the same time, you’re likely enjoying your retirement on a fixed income, which means you have limited earnings. This could eat into your equity quicker than you think.

On the plus side, reverse mortgage money is tax free, which means it won’t impact government-based pensions and benefits, according to Wealth Professional. For some retirees, taking a reverse mortgage makes sense as they can delay enrolling in the Canada Pension Plan (CPP) or Old Age Security (OAS) until they’re 70, which means their benefits will be about 142 per cent of what they would be at 65.

Sources: www.cbc.ca, www.betterdwelling.com, www.wealthprofessional.ca, www.150statcan.gc.ca

It’s too bad winter snow and ice and its accompanying wrath don’t provide for a beautiful landscape once temperatures warm and melt away all signs of winter.

But that would be the stuff of fantasy. Unfortunately, most of our gardens and lawns look pretty sad at this time of year with dead and dried foliage, unkempt lawns and dirt in places where it shouldn’t be.

With springtime upon us and Earth Day right around the corner on April 22, let look at ways to do a spring clean-up without further harm to the planet. The following are suggestions on ways to tidy your property without destroying the natural cycle of nature and biology.

Remove dead leaves

This may be the most obvious springtime chore since brown and dried leaves aren’t the prettiest but don’t be too hasty with your rake. Did you know that that curled up vegetation is the perfect little home for plenty of creatures and beneficial bugs? Pollinators such as ladybugs and butterflies like to overwinter in leaves so give them a chance to wake from their winter’s slumber. All manner of eggs and pupae can be found lurking in dead plants, shrubs and leaves. Go easy before cutting and discarding and wait till temperatures hit about 10 degrees Celsius.

Be smart about…everything 

Planning a new garden this year or hoping to add some turf where none existed before? Maybe you’re thinking of adding mood lighting in an effort to impart some extra ambiance to all of those outdoor barbecues you enjoy hosting? Or perhaps you’ve decided it’s time to chuck the old sprinkler in favour of a new-fangled device. There are smart choices you can make in all three scenarios. For your lawn and garden, try selecting low-maintenance plants and flowers. They use less water.  Your lighting should be LED or solar because they last longer and offer the most energy efficiency.  Invest in a smart timer that allows you to operate your sprinkler from anywhere. Smart timers automatically respond to weather conditions so no need to manually turn off your sprinkler when it rains.

Compost it 

Your waste is a beautiful thing to waste so stop throwing it away. Start composting. This allows you to recycle materials and kitchen scraps that would otherwise land in the landfill heap.  The list of acceptable materials is a pretty long one: grass clippings, coffee grounds, sawdust, newspaper and food scraps are just a few. Composting also lets you reduce soil erosion, increase the moisture in your soil and enhance nutrients in lawns and gardens.

Let it grow 

Keeping your grass a bit on the longer side is best for helping it withstand drought conditions during hot summer months. Another added benefit to this is roots grow deeper and lawns get thicker resulting in fewer pests, less disease and less need for chemical intervention.

Sources:  www.augustagreen.ca, www.angieslist.com, www.rd.com

Take a closer look in the corners and crevices of your home and you’re apt to see all manner of creepy crawly critters.

According to a CBC television report from July, 2018, the average Toronto house has 112 distinct insect species scurrying about it walls, basements and rafters. The Great Wild Indoors, which aired on the Nature of Things, chronicled a team of bug experts aka entomologists who explored a typical Toronto house in search of insects. What they found was pretty typical.

And even though Toronto homes are on par with their U.S. neighbours in terms of the quantity of critters, that doesn’t make enduring them any easier. Let’s take a look at some of the more offensive ones:

Bed bugs:

These small, oval creatures are flat and brown, though they turn a red-blood after feeding. They live inside electrical outlets, mattress seams, sofas and baseboards. Although bed-bug bites rarely result in serious medical concerns, their presence wreaks psychological havoc, causing anxiety, depression and sleep deprivation.

Because bed bugs transfer so easily be sure to inspect second-hand furniture that is coming into your home. Also use mattress covers on your mattress and box spring to eradicate their hiding spots.

Cockroaches:

These hated pests range in colour from light brown to almost black. These nocturnal insects sleep in crevices and cracks during the day and come out at night to search for food. They can be found anywhere in your home or in warm, damp areas. Cockroaches don’t bite or cause structural damage to your home, though they are known to spread disease.  To prevent cockroaches, keep dark and damp areas in your home clean, especially those close to food sources. Dispose of your garbage every day. Wash dishes immediately after use.

Termites:

Damage by these bugs is typically not covered by insurance. These secretive insects are difficult to identify, though often compared to ants. Often a homeowner only becomes aware of termites by seeing the damaged they’ve done. In spring, you may see small flying bugs, which leave discarded wings. Look for floors that sag and blister, unexplained cracks in walls, ceilings and cornices, sticking windows and doors and mud tubes outside your home.

You will never eliminate all bugs but you can help discourage them from finding a home in your house. Here are some general ways to deter pests:

• Keep your home free of clutter.
• Clean kitchens and bathrooms regularly. Pests are attracted to warm, damp places or places where food is available.
• Vacuum regularly under rugs and beneath furniture.
• After travelling, check luggage carefully for the spread of pests.
• Seal cracks and crevices with caulking and ensure that windows and doors are weather- proofed.
• Avoid picking up mattresses and furniture from uncertain sources as bugs might hitchhike on them.
• When receiving deliveries of furniture, check the packaging. For mattresses, ensure the mattress comes wrapped in plastic to avoid the spread of bedbugs from the transport truck to your home.
• Store foods in sealed plastic or glass containers in kitchens.

Sources: www.torontotenants.org, www.pestend.ca, www.pesthow.com