Debt Solutions Blog

One of the mistakes some people make when they’re talking about debt is that they focus on moving away from something. But among those that know what really motivates us is the theory that it is easier to move towards a goal. Imagine you’re a circle sitting in the middle… Read more

If you understand how interest rates work on your credit card, you can make three simple adjustments to your credit card use (including how you make payments) that will help you pay off your credit card debt sooner. 1. If you carry a balance, stop using your card for new… Read more

To be perfectly honest, it’s all Gail Vaz-Oxlade’s fault. It was just before New Year’s Eve last year when Gail tweeted out a query about New Year’s resolutions versus financial goals. Because I have a bit of a butter tart problem (admission is the first step), I tweeted back that… Read more

“The goal isn’t more money. The goal is living life on your terms.” – Chris Brogan While we all know that saving makes sense, not enough of us are actually doing it. Ever since credit cards were introduced in the early 1980’s, the savings rate in Canada has steadily dropped…. Read more

You’ve been struggling with the challenge of meeting your monthly debt payments for a while now and have decided you want to deal with your debt but need a road map. Choosing the right debt relief option is a bit like hitting a traffic circle. Technically all roads will lead… Read more

I hate overdraft protection. Hate it with a purple passion. Why? Well, in principal it’s a good tool to have when you’re in transition. When your life is in turmoil, it’s nice to have a safety net to protect your credit history. But IN PRACTICE most banks let you treat… Read more

I like to think that I’m a responsible, respectable, law-abiding citizen. Or at least responsible and law-abiding. But I have to confess that I have removed most of the “DO NOT REMOVE” tags from the pillows inside my house. GASP! On occasion, I have totally gone wild and parked my… Read more

Credit cards are a convenience but there are times you should think about leaving them in your wallet rather than adding to your credit card debt. Before you charge it, here are some situations when using your credit card to make a purchase is a bad idea. 1. You Already Have… Read more

There’s no one right way to handle money in a remarriage. But since you can’t escape responsibility for your partner’s decisions, you better talk about it. Some couples maintain separate savings and chequing accounts, paying for their own personal and children’s expenses and sharing the costs of running the household…. Read more

Earlier this year Licensed Insolvency firm Hoyes, Michalos & Associates Inc. published their fifth biennial Joe Debtor study, which looks at the different faces of debt. We analyzed their different risk groups, and found that millennials are increasingly turning to insolvency to deal with their debts. From their 2015-2016 study, millennials (ages… Read more