Monthly Archives: April 2011

One of the main purposes of filing for personal bankruptcy in Canada is to discharge your debts. To discharge your debts means to get rid of them, so that you are not required to pay those debts. However, there are certain types of debts that are not dischargeable in a… Read more

If you have tax debt and are unable to work out a tax debt payment plan with Canada Revenue Agency (CRA), formerly known as Revenue Canada, you still have options. There is only one possible method to get CRA to agree to a tax debt settlement and accept less than… Read more

It is an unfortunate truth that more retired Canadians are finding themselves deeper in debt. Several recent studies have shown that seniors are increasing their debt levels at a faster rate than the average Canadian. The reasons are many and varied: like many Canadians, seniors may be enticed by low… Read more

You’ve decided you need to start saving for an emergency fund – what is a good way to build that fund a little faster? Try a Tax Free Savings Account. TFSA’s were introduced in 2009 to provide Canadians with a tax-free investment savings option. Although deposits to a TFSA are… Read more

For many Canadians, it is becoming increasingly difficult to save. Even worse, many are relying on debt to survive. There is more to saving money than spending less and putting a little away each month (although that is a good start). If you are struggling with paying your basic bills,… Read more

RRSPs (Registered Retirement Savings Plans) are a tax assisted method of saving for retirement. With an RRSP, you contribute a portion of your income to the plan, and the government reduces your taxes owing each year. RRSPs are great as a savings plan: by automatically having your contribution deducted from… Read more

Am I better off renting or buying a house? – This is a very old question. Before you decide, you need to answer the following: 1. How often do you expect to move in the future? More than once a year Once every two years Not for at least 5… Read more

The average bank issued credit card in Canada has an interest rate of 18%. Department store credit cards start around 22%. And yet every day you probably get a letter advertising “6.9% introductory rate”. How do you get these low rates? First, you could apply for a low rate card…. Read more

What is a personal loan? That’s easy – its money that an individual borrows personally. What does it look like? That’s tough – personal loans come in all sorts of different shapes and sizes. Some examples of personal loans might be: Your parents loan you $1,000 so that you can… Read more

To manage your personal finance with budgeting, the budget itself is not enough – it is imperative that you make it work for you. The following section provides you with some important tips on budgeting and explains how to take the best out of your household budgeting and use it… Read more