Monthly Archives: April 2011

If you are having money problems, the logical starting point is to try to work them out yourself, with personal budgeting. Unlike the other four strategies in our 5 strategy plan for dealing with your money problems (see the list on the left), the “Work it Out Yourself with Personal Budgeting” strategy… Read more

Have you ever noticed that, at the end of the month, you don’t have any money left? It doesn’t matter how much you earn each month; if you are a typical Canadian, you probably spend all you make each month. Without a savings program, you will never build up a… Read more

Increasingly, Canadians are turning to payday loans when they find themselves short of cash at the end of the week or month, or need extra money to meet an unexpected expense before they receive their next paycheque. We know that for most of these individuals borrowing money from payday loans… Read more

You cannot develop a plan unless you know where you are, in other words your net worth. You need a financial snapshot that shows what you own and what you owe. To calculate your net worth, you can use our template, or a blank sheet of paper. Assets Start by… Read more

A mortgage in Canada is a loan secured by your house or other property, so a mortgage generally has the lowest interest rate of any type of loan in Canada. That’s great if you want to use a mortgage as a debt consolidation loan to lower the cost of your… Read more

Do you carry a balance on your credit cards each month? Are you using cash advances or payday loans to make your minimum payment? Do you use credit cards for basic living expenses? If you answered yes to any of these questions, you may have a serious credit card debt… Read more

Special low rate introductory offers are great, but if you need more than six months to pay off your credit cards, a low introductory rate may not be enough. What else can you do? Renegotiate. Instead of taking advantage of a temporary low rate offer, why not lower the rates… Read more

Are your struggling with debt? Are you having trouble paying your bills each month? If you are looking for debt relief but would like to avoid bankruptcy you do have options. While there is no easy quick fix, there are debt relief solutions that will work in your situation. Learn… Read more

The length of bankruptcy in Canada is determined by the Bankruptcy and Insolvency Act. How long a bankruptcy lasts for Canadians is affected by several key factors including whether you have filed for bankruptcy in the past, your surplus income and the amount of tax debt you owe. 1. First… Read more

A Consumer proposal is a way to negotiate a debt settlement with your creditors by offering to pay back a reduced amount of your debt, either in a lump-sum payment or in monthly installments over an extended period of time. The benefits of a proposal are: You are paying back only a… Read more