From the category archives:

Financial Tune Up

Know when to quit (or when to start)

by Moneyproblems TipsWed Sep 29, 2010 Financial Tune Up

How do you know when it’s time to look at formal options for dealing with debt? Here are some tips to know when it’s time to seek help.

You have to borrow money every month to pay your basic bills
You are making minimum payments on debt with borrowed money
You have debts in the [...]

Tagged as: debt, get help

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Don’t Kite Your Credit Cards

by Moneyproblems TipsMon Aug 23, 2010 Financial Tune Up

Today’s Tip: Don’t “Kite” your credit cards.  Kiting is a term that means moving money from one credit card to the next.  You take a cash advance on one credit card to make the minimum payment on another, and then repeat in  reverse the next month.  Kiting simply increases the interest you pay.
A better solution [...]

Tagged as: credit card, debt

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Good Debt and Bad Debt: Is there a difference?

by Moneyproblems TipsFri May 21, 2010 Financial Tune Up

Traditionally “good debt” is money you borrow to purchase something of lasting value.  A house mortgage is thought to be “good debt”, because your house will increase in value.  Borrowing to contribute to an RRSP may also be good debt.
“Bad debt” would include all other types of borrowing, such as borrowing to go on a [...]

Tagged as: debt

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Tax Refund: To Spend or Not To Spend?

by Moneyproblems TipsTue May 11, 2010 Budgeting

Did you get a tax refund this year, or are you expecting one?
Most people who get a tax refund immediately spend it.  They consider it to be like a windfall: free money.  It’s not.  The only reason you got a tax refund is because you paid too much tax last year!  The government is simply [...]

Tagged as: tax refund

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Get a Home Appraisal

by Moneyproblems TipsMon May 10, 2010 Financial Tune Up

Before you decide whether or not to sell your home, ask a real estate agent to give you a home appraisal, or a written comparative market assessment.  Ask them to provide you with comparable homes in your area that have sold recently, so that you get an accurate idea of your home’s value.
Knowing the true [...]

Tagged as: house

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Have a garage sale: convert stuff into cash

by Moneyproblems TipsTue Apr 27, 2010 Financial Tune Up

Spring is the perfect time to have a garage sale, but any time of the year will do.  Sort through all of your stuff, and anything you haven’t used in the last year, put it up for sale.  That will include stuff your kids have outgrown, and anything else you haven’t used in a year [...]

Tagged as: garage sale

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Brief your loved ones on your financial affairs

by Moneyproblems TipsMon Apr 26, 2010 Financial Tune Up

This may seem like a creepy topic, but it’s important.  Walk your loved ones through your affairs. If you die or become incapacitated, would your spouse know how to log in and pay the bills? Do they know where you keep your will? Make a list of where the important things are [...]

Tagged as: will

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Track your Big Expenses with a Mini Budget

by Moneyproblems TipsFri Apr 23, 2010 Cut Your Food Bill

The most important advice to get control of your personal finances is to make a budget. We strongly recommend that you make a budget, (and many of you agree, since our make a budget post is one of our most popular tips). You can even join the budget group on our debt support group.
But wait, [...]

Tagged as: budget, food, save money

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Make a Will

by Moneyproblems TipsThu Apr 22, 2010 Financial Tune Up

Every financial planner will give you the same advice: make a will.  If you die without a will, it may be left to the courts to decide how to dispose of your belongings.  You may not own a lot of valuable assets, but you probably have some items that would have sentimental value to your [...]

Tagged as: will

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Get a copy of your credit report

by Moneyproblems TipsWed Apr 21, 2010 Credit Reports

By law, your are entitled to receive one free copy of your credit report each year.  Today’s tip: get one now.
Your credit report is important, because lenders use your credit score to determine whether or not they will lend you money.  That’s why you want to check your credit report before you apply for a [...]

Tagged as: credit report

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