2016 was a year we won't soon forget, and early indications are that 2017 will also be very eventful, so it's time to review the events of 2016 and make our predictions for 2017.

Consumer debt reached record levels in 2016, and so did the Toronto real estate market. As Ted Michalos says on today's show:

There is no capacity to save, there's no capacity for anything to go wrong. It's just a dangerous scenario waiting to unfold.

We discussed the trends that we see with our own clients. A lot of the people we meet are working multiple jobs, just trying to make ends meet. Jobs in Canada have increased in 2016, but the growth was in part-time positions. From November 2015 to November 2016 Canada added 214,000 part-time positions, but full-time jobs declined by 30,500.

They're incurring more debt to make up the difference in the fact that their expenses have gone up but their income hasn't kept pace.

So, what can the average Canadian do to help keep themselves in the black? That's what we discuss on today's podcast.