From the category archives:

Setting a Course to Be Debt Free

Set Your Priorities

by Moneyproblems TipsThu Nov 25, 2010 Setting a Course to Be Debt Free

When you decide to deal with your debt problems decide on a proper plan. Set your priorities after considering all the options. This will help you to set your goals straight so you can save for your future. You need to decide which are the important things that you need to deal with right now [...]

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Look for secondary sources of income

by Moneyproblems TipsWed Nov 24, 2010 Setting a Course to Be Debt Free

Look for secondary sources of income : If you are in debt, look out for other sources of income to increase your income level. You can take up part time jobs, overtime at work, dog walking, baby sitting, tutoring, or other home based work which can act as a supplementary income.
You [...]

Tagged as: debt free

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Minimize your Interest Rates

by Moneyproblems TipsTue Nov 23, 2010 Setting a Course to Be Debt Free

Minimize Your Interest Rates : One of the fastest ways to track your way out of debt is to reduce the interest rates on your debt. Many people have interest rates as high as 30%, when they pay their monthly minimum. Minimizing the interest rates not only makes the loan affordable, but [...]

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Set a budget by cutting down your credit cards

by Moneyproblems TipsMon Nov 22, 2010 Setting a Course to Be Debt Free

Set a budget by cutting down your credit cards: If you find yourself in debt the first thing you need to do is to cut down on your usage of credit cards and live on a cash budget. Keep an account of each an every expenditure that you incur. You can use [...]

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Know When to Get Help

by Douglas HoyesFri Aug 20, 2010 Setting a Course to Be Debt Free

As you Set a Course to Be Debt Free, you may run into the occasional road block. How do you know when you should work through it on your own, and when you should get help?
There is no easy answer to that question; it’s only with the benefit of hindsight, after the [...]

Tagged as: consumer proposal administrator, debt free

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Avoid the Biggest Debt Pay Down Trap

by Douglas HoyesThu Aug 19, 2010 Setting a Course to Be Debt Free

Your plan to be To Debt Free is going great. You have made a budget, and you are paying off your high interest debts first. In fact, you have already completely paid off one of your credit cards. Great! That frees up cash each month to pay off other debts, and you are savings hundreds [...]

Tagged as: credit card, debt free, debt pay down

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Personal Budget and Debt List - Put it Together

by Douglas HoyesWed Aug 18, 2010 Budgeting

To Set a Course to Be Debt Free, you make a list of your debts, and then make a budget to see what you spend today, then you analyze your budget to see what expenses you can cut. Let’s assume you have done all of these steps, and you now have the following information:
You have [...]

Tagged as: budget, debt free, debt list

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How To Use a Personal Budget to Become Debt Free

by Douglas HoyesTue Aug 17, 2010 Budgeting

A personal budget is a list of numbers. It’s meaningless unless you do something with it. To Set a Course to Be Debt Free, take your budget and look at it. Analyze it. And ask yourself this simple question: “What can I slash and burn?” Once you know where you are spending your money, you [...]

Tagged as: budget, debt free

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To Be Debt Free, You Need A Budget

by Douglas HoyesMon Aug 16, 2010 Budgeting

As we continue our series on Setting a Course to Be Debt Free, let’s review the first steps.
First, start by deciding that you want to be debt free. You must make a conscious decision to achieve your debt free goal.
Second, make a list of your debts, and check it twice to be sure you [...]

Tagged as: budget, debt free

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Should I pay down debt, or contribute to my RRSP?

by Douglas HoyesFri Aug 13, 2010 Setting a Course to Be Debt Free

Next week we will continue our series on Setting a Course to Be Debt Free, but today we will address a very common question: should I pay down my debt, or should I contribute to an RRSP? The answer depends on your circumstances. Here are the four questions you need to answer:

What interest rate [...]

Tagged as: debt free, debt pay down, RRSP

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