CALGARY—The Racette family is on a cash-only diet for the next four years.
Dale Racette, a truck driver, and his wife, a school bus driver, are trying to dig themselves out of a $45,000 hole.
It wasn’t any one thing. The day-to-day costs of raising two children just piled up over 14 years, Dale Racette said from Red Deer, Alta.
Two months ago, the Racettes sought the help of a credit counsellor to work out a debt repayment plan. The first step was to shred their six credit cards.
Racette says he’s optimistic his job at a distribution company is safe, but he’s lived through enough economic ups and downs in Alberta to know he can’t take anything for granted.
“I think I’m pretty secure. I wouldn’t bet a whole lot of money I don’t have, mind you,” he said.
