From the category archives:

Money Saving Tips

Don’t Pay A Cent Can Be Very Expensive

by Moneyproblems TipsWed Feb 24, 2010 Money Saving Tips

Many retailers offer “don’t pay a cent” promotions, where you get the product today, but don’t have to pay for six months, or a year, or longer.  Sounds like a great way to get what you want today, but not pay for it until later, right?
Maybe.  If you are sure you will have the money [...]

Tagged as: debt

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File Your Taxes Early

by Moneyproblems TipsTue Feb 23, 2010 Money Saving Tips

In Canada you are required to file your personal income taxes by April 30 (self employed people may be eligible for a short extension).  In the United States the filing deadline is April 15.
Our tip of the day: file early; don’t wait until the deadline to file.
If you are expecting a refund, the sooner you [...]

Tagged as: tax

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Don’t Skip a Payment

by Moneyproblems TipsMon Feb 22, 2010 Money Saving Tips

Many lenders will allow you to “skip a payment.”  Your credit card company, after the Christmas season, may allow you to skip a payment.  Your mortgage company probably also has a skip a payment option.  Even your car lender will usually allow you to miss one payment without penalty.
Our advice: don’t do it unless it’s [...]

Tagged as: skip a payment

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Lower Your Credit Card Interest Rate

by Moneyproblems TipsFri Feb 12, 2010 Money Saving Tips

Two days ago we discussed the need to be careful with credit cards because of their high interest rates.  In most cases your best option is to pay off your credit cards so that you are not carrying a balance.  But what if you can’t pay them in full?
The next best option is to lower [...]

Tagged as: credit card

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Credit Card Companies May Not Be Evil, But Be Careful

by Douglas HoyesWed Feb 10, 2010 Money Saving Tips

It is now common practice for credit card companies to raise interest rates at the first sign of trouble.  They were eager to increase your limit when times were good, but during a recession, even with low market interest rates, they do not hesitate to raise your interest rate if they sense that you may [...]

Tagged as: consumer proposal, credit card

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Save Your House and Your Marriage

by Moneyproblems TipsTue Feb 09, 2010 Money Saving Tips

The largest expense most of us pay each month is our mortgage payment.  We don’t mind making this payment when real estate values are increasing, but during times of recession as house prices are falling, it’s hard to justify making a huge mortgage payment.  The stress can become unbearable when you fall behind on your [...]

Tagged as: consumer proposal, house, marriage

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The Importance of Being Skeptical

by Douglas HoyesMon Feb 08, 2010 Budgeting

As a bankruptcy trustee in Canada, I’ve heard it all, and so I know from experience that if it sounds too good to be true, it probably is.  Free offers normally carry hidden charges, so the offer isn’t really free.  A low introductory rate on a credit card will turn into a very high permanent [...]

Tagged as: budget, skeptical

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Pay Day Loans are Not the Solution to Your Money Problems

by Moneyproblems TipsFri Feb 05, 2010 Money Saving Tips

Today’s Tip Courtesy of Norma Yau, bankruptcy trustee
Pay day loans may appear to be a quick and convenient way to get the cash you need to carry you through to your next paycheque, but don’t be tempted. Compared to all other forms of borrowing, like bank loans, lines of credit, and even credit cards, payday [...]

Tagged as: pay day loans, payday loan

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Clean up the Clutter

by Moneyproblems TipsMon Feb 01, 2010 Money Saving Tips

Guest Tip of the Day from Howard Hayes:
In these tough economic times, clean up the clutter and sell possessions you don’t need. Have a garage sale, or even make money from Christmas by selling duplicate or un-needed Christmas gifts on eBay, Kajiji, or Amazon.
We don’t want to sell our possessions, but cash in [...]

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Easy Money Saving Strategy

by Moneyproblems TipsThu Jan 28, 2010 Money Saving Tips

Today’s Tip Courtesy of Ian Martin, Chartered Accountant:
I heard a radio advertisement recently from one of the big banks regarding a service to help people save money.  I think they called it “Bank the Rest.”  It works something like this:

You link a savings account to your credit card or chequing [...]

Tagged as: debt management, Money Saving Tips

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