Leamington
A consumer proposal is one of the best ways to settle severe levels of debt and improve your financial situation. In many cases, it can settle up to 80% of your unsecured debt and the remaining 20% can be paid off interest-free over the course of up to five years. However, a consumer proposal can … Read more
Not everyone who ends up in debt is a gambler or someone with no financial know-how. Debt is a very common problem and can easily creep up on people from all walks of life. The key to avoiding debt is to understand how people get into debt in the first place so that you can … Read more
Credit cards are a great tool, allowing you to spread the cost of a large purchase, gain reward points for your spending and helping you to make ends meet at times when you may not have money in your bank. But just like other forms of borrowing, credit cards have the capability to become scary … Read more
Money can be a very touchy subject in relationships. People work hard for the money they earn and as such like to have control over how they spend it. When debt enters the equation, many couples feel a host of other emotions too, such as shame and guilt, which only add to their stresses and … Read more
The vast majority of debts are caused by poor financial education and a failure to properly plan for expenses. The good news is, that a simple household budget can help most people to get back on track, eliminating their debts and allowing them to experience true financial freedom. Everyone needs to have a budget, regardless … Read more
If you owe money to someone, be they a credit card company, loan provider or individual, then they are what is known as a creditor. Being in debt and unable to pay back what you owe to your creditors can be a very uncomfortable situation which will only get worse as time goes by, so … Read more
Debt is a very common problem, affecting thousands of people throughout Canada. While a small amount of debt is usually manageable, larger debts can start to become problematic, causing people severe financial stress. If you’re worried about debt, no matter how big or small, here are some tips to help you effectively eliminate it for … Read more
Credit cards can be a very valuable financial tool when used correctly but as with any borrowing service, they can easily become problematic and get out of hand if used excessively. According to a report by the Financial Post, the average credit card balance of Canadians is set to increase to $4,465 in 2020, a … Read more
Most people have a small amount of debt in one form or another. Mortgages, car loans, credit cards and student loans are all examples of debt that are commonplace and necessary in everyday life, helping us to make large purchases that we would otherwise be unable to afford. The problem with debt is that it can … Read more
A big part of conquering your debts and achieving financial freedom is understanding what led your debts o get out of control in the first place. For decades now, we’ve enjoyed low interest rates and easy access to forms of credit that simply weren’t an option for previous generations. But the easier it is to … Read more
You filed your tax return and got the news that every taxpayer dreams of… your refund is on its way. While it’s easy to see this as some unexpected free money from the government, the truth is that the government is simply giving your own money back to you. What you do with it now … Read more
We all love a good bargain. But when we struggle to resist one, it can have lasting consequences for our finances. All too often we treat shopping as a hobby. Or, worse still, a form of therapy to cheer us up when we feel depressed. According to a study by the Bank of Montreal, 59% … Read more
For most of us, debt is just another part of day-to-day life. It’s inconvenient and irritating, but we deal with it proactively and try to pay it off as soon as we can. However, debt can quickly become a slippery slope. When we pile new debts on top of old debts we can quickly lose … Read more
It’s common for our household debts to be a source of great stress, and even some guilt, shame and embarrassment. But if your debts are getting out of hand, you’re far from alone. In fact, did you know that the average Canadian household is almost $21,000 in debt? That’s not even including secured debts like … Read more
Debt is a simple fact of life for many households in Canada. In fact, the average Canadian family carries over $20,000 in non-mortgage debts. Collectively, we’re spending almost 15% of our disposable income on repaying our debts and over 7% of this is interest. Over time, it’s easy to fall into the habit of piling … Read more
Do you ever look at your bank statements and wonder “Just how the heck did that happen?” It’s rarely because we’ve made too many lavish and ostentatious purchases. It’s because we’ve lost track of the little things that eat into our cash flow, and make a big difference by the end of the month. Every … Read more
Debt is a fact of life for many Canadian households. As a nation, we owe an average of nearly $21,000 in non-mortgage debt per household. Yet, for many of us, the feelings of guilt, shame and anxiety that surround our debts can prevent us from accepting and acknowledging them. They can even prevent us from … Read more
Let’s face it – no one wants to be in debt. But, like any other issue in life, ignoring your debt doesn’t make it go away. In fact, in many cases, it will make it worse. Your bills won’t automatically pay themselves, and interest rates will cause your debt to increase regularly. First, understand that … Read more
Going Bankrupt When You Own a Home If you’re in debt but you own a house, one of the first questions you might ask a Licensed Insolvency Trustee or other financial professional is if you can go bankrupt. The short answer is yes. There are cases in which your debt can cause you to go … Read more
As of 2019, Canadians had racked up over $100 billion in credit card debt for the first time ever. While that can feel like a shocking statistic, there are many different reasons people go into debt, whether it’s from credit card usage, mortgages, or student loans. Now, more than ever, going into debt is “common”. … Read more
