Have you got your financial house in order?

There is another warning about rising consumer debt levels in Canada.

Transunion reports, excluding mortgages, Canadians are carrying an average of just over $26,000 in debt. The Alberta figure is even higher, running at more than $33,000.

There are fears many Canadians could face financial ruin when interest rates start to climb.

Avery Shenfeld with CIBC World Markets says the Bank of Canada is going to take it’s time boosting those rates because such a move would stifle other economic activity.

“It would hit other aspects of the economy including businesses ability to borrow and finance projects that the economy certainly needs.”

Shenfeld adds interest rates will remain at historic low levels right through 2013.