Golden
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Golden, debt relief, British Columbia
Golden, a picturesque town in the Columbia Valley, offers stunning outdoor activities but faces challenges such as high local taxes and debt from infrastructure improvements. This financial strain impacts residents’ ability to manage costs for essentials. Additionally, job opportunities are dwindling due to slowdowns in key industries, further complicating financial stability in the community.
City: Golden
Province/Territory: British Columbia (BC), Canada
Est. Population: 3,708
Financial Challenges
Residents of Golden often face high local taxes, which take a big part of their income. This leaves less money for things like food, rent, and other needs. The town also has debt from fixing roads and water systems, which might mean higher taxes later or fewer services, making it harder for people who are already struggling with money.
Finding jobs in Golden can be tough too, especially since some main industries like mining and construction are slowing down. With more people looking for work, unemployment rates are going up, meaning fewer job opportunities are available. Housing is also expensive, and it can be difficult to find affordable places to live. All these issues make it challenging for people in Golden to manage their finances and make ends meet.
Debt Relief Solutions Available
Financial Planning
Financial planning means making a smart plan for your money. It helps you budget, set goals, and save for the future. With a plan in place, you can feel more in control of your money and avoid falling into debt again.
Find out more about Financial PlanningDebt Management Plan
A Debt Management Plan, or DMP, helps you pay back what you owe in one simple monthly payment. A credit expert talks to your creditors to lower your interest and make the debt easier to handle.
Find out more about Debt ManagementDebt Consolidation
Debt consolidation means putting all your debts—like credit cards and loans—into one new loan. This new loan usually has a lower interest rate, which can help you save money and pay off your debt faster.
Find out more about Debt ConsolidationDebt Settlement
Debt settlement means offering less than the full amount you owe to clear your debt. Creditors may accept it because they get paid quickly. A debt settlement company usually helps with this process.
Find out more about Debt SettlementConsumer Proposal
A consumer proposal is a legal deal between you and the people you owe. You agree to pay back part of your debt in smaller monthly payments. A Licensed Insolvency Trustee helps make the plan and talks to your creditors for you.
Find out more about Consumer ProposalsBankruptcy
Bankruptcy is a legal way to clear most of your debts if you can’t pay them back. It gives you a fresh start, but it can also hurt your credit score for several years.
Find out more about Bankruptcy
*Illustration of Golden, British Columbia
Debt Data
This table includes estimates on the number of residents who are experiencing financial stress situations. You are not alone.
| Item | Description | Estimated |
|---|---|---|
| Living paycheck to paycheck | Number of residents who are living paycheck to paycheck | 1,743 |
| Living in poverty | Number of residents who are living in poverty | 412 |
| Debt defaulted | Number of residents who have defaulted on a debt payment | 40 |
| Insolvencies | Number of residents who filed for insolvency | 9 |
| Consumer proposal | Number of residents who filed for a consumer proposal | 7 |
| Personal bankruptcy | Number of residents who filed for personal bankruptcy | 2 |
The estimates above are based on the following ratios living paycheck to paycheck rate (47%), poverty rate (11.1%), delinquency rate (1.09%), insolvency rate (0.25%), consumer proposal rate (0.19%), personal bankruptcy rate (.06%) from the following sources leger360.com, statcan.gc.ca, consumer.equifax.ca and is, d-isde.canada.ca.
Elimiate up to 80% of Your Debt
High cost of gas, high cost of groceries, high lending rates, low salary - being in debt is not your fault! See if you qualify for government debt programs and get out of debt today!
Areas / Neighbourhoods
Downtown Golden
The heart of the community, Downtown Golden boasts a vibrant mix of shops, cafes, and restaurants. It serves as the cultural hub, hosting events and festivals throughout the year, and offers a glimpse into the town’s history with its charming architecture.Golden Mountain Estates
A residential neighborhood known for its stunning views and proximity to outdoor activities, Golden Mountain Estates provides a peaceful retreat for families and individuals alike. It features modern homes and easy access to hiking and skiing.Golden West
A sought-after residential area, Golden West offers spacious lots and a family-friendly atmosphere. Its location provides quick access to local schools and parks, making it ideal for young families.Kicking Horse Mountain Resort
Renowned for its world-class skiing and outdoor recreational opportunities, Kicking Horse Mountain Resort is a premier destination for adventure seekers. The area features luxury accommodations, dining options, and countless trails for hiking and biking in the warmer months.Eagle’s Nest
This scenic neighborhood offers breathtaking views and a tranquil environment. It’s popular among retirees and those seeking a peaceful lifestyle, while still being close to the amenities of Golden.Mount 7
Famous for its paragliding and mountain biking trails, Mount 7 is a hotspot for outdoor sports enthusiasts. The area provides stunning vistas and is popular with thrill-seekers and nature lovers.Parson
Just a short drive from Golden, Parson is a small community known for its rural charm and outdoor lifestyle. Popular among those looking for a quieter life, it’s an attractive choice for those who appreciate nature and community spirit.
Illustration of Golden, British Columbia, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Golden, Canada to help understand the financial requirements for different living situations.
| Item | Description | Average Cost |
|---|---|---|
| Housing (1BR) | Monthly rent for a 1-bedroom apartment | $2,872 |
| Housing (2BR) | Monthly rent for a 2-bedroom apartment | $3,777 |
| Average Home Price | Average price to purchase a home | $991,000 |
| Utilities | Monthly cost for electricity, heating, water, and garbage | $250 |
| Food (Single) | Monthly grocery cost for a single person | $400 |
| Food (Family) | Monthly grocery cost for a family of four | $1,100 |
| Healthcare (Rx) | Monthly cost for prescription medications | $35 |
| Healthcare (Dental) | Monthly cost for dental care | $225 |
| Healthcare (Vision) | Monthly cost for vision care | $250 |
| Transportation (Public) | Monthly cost for public transit | $2,872 |
| Transportation (Car) | Monthly cost for car ownership | $750 |
| Childcare (Daycare) | Monthly cost for daycare | $1,350 |
| Childcare (After-School) | Monthly cost for after-school programs | $500 |
The cost of living data is based on provincial averages and may differ between cities, towns, and rural areas.
Top Questions
- What is the average cost of living in Golden, British Columbia?
- How does housing affordability in Golden compare to other cities in British Columbia?
- What are the average salaries for common jobs in Golden?
- What is the economic outlook for Golden in the next five years?
- What financial assistance programs are available for residents in Golden?
- How do taxes in Golden impact residents’ finances?
- What are the main financial challenges faced by residents of Golden?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Located in the stunning Columbia Valley, this small town is known for its breathtaking natural beauty, surrounded by mountains, rivers, and forests. It’s a popular destination for outdoor activities like skiing, snowboarding, hiking, and mountain biking, making it an excellent place for adventure enthusiasts. The area is also home to various recreational facilities and cultural attractions, including festivals and events that celebrate the local heritage. With its charming downtown, friendly community, and proximity to national parks, the town offers a unique blend of outdoor fun and small-town warmth.
Eliminate up to 80% of Your Debt
High cost of gas, high cost of groceries, high lending rates, low salary - being in debt is not your fault! See if you qualify for government debt programs and get out of debt today!