Yearly Archives: 2012

No hassle payday loan. Get cash in 3 easy steps — no calls, no fax. Receive up to $1500 instantly. These are just some of the catchy phrases in the new world of payday loans – the Online Payday Loan. Yes, payday lenders have entered the internet age. Now borrowing… Read more

Canadians don’t think they are better off financially now compared to a year ago and most are even more worried about the future. Does this sound like you?  Should you be worried? The answer is probably yes.  And here’s why. Consumer debt in Canada is too high.  Household debt-to-income in… Read more

Are you trying to control your Christmas spending so you do not end up with unwanted Christmas debt. Here are more tips on how to avoid the Christmas credit crunch: Make a budget and stick to it. Set money aside ahead of time in a Christmas fund. Remember to prepare… Read more

Canadians are working longer, having to delay retirement, and the trend is increasing according to results just released by Statistics Canada. For many, high debt levels going into retirement may be the cause. In 2009, a 50-year-old worker expected to retire at the age of 66. In 1997 the expected retirement… Read more

You ask yourself the same questions at the end of almost every month. Why don’t I have enough money? Why is it I can’t pay my bills every month and have a little left over to spare? The answer is likely that you are running on the debt treadmill. When… Read more

Holiday shopping is in full swing.  While Black Friday and Cyber Monday may be finished, retailers continue to bombard us with tempting holiday shopping deals right through to the New Year.   Canadians are expected to spend $674 on gift purchases this year, $100 more than last year.  Many unfortunately… Read more

More evidence that Canadian consumers continue to pile on more and more debt came out Wednesday.  Credit report agency TransUnion released statistics showing that average consumer non-mortgage debt jumped by an annual rate of 4.6% in the third quarter to an average of $26,768 per person.  Thomas Higgins, TransUnion vice-president noted… Read more

Continuing in our Debt Management Series, we now have a better understanding of what a debt management plan is.  Today we will talk more about debt management plan pros and cons and what other options you may have. Deciding if a debt management plan, or any other debt relief option,… Read more

Fewer Canadians are missing or defaulting on loan payments according to a report from Equifax Canada.  This despite the fact that the average debt balance owed by Canadians continues to grow. The number of Canadians missing loan payments fell to 1.22% in the third quarter 2012, the lowest level since before… Read more

Like many Canadians you may have accumulated more credit card or bank debt than you would like. Perhaps you’ve seen your personal savings account dwindle and your debt levels rise. Now you are facing a financial dilemma: should you pay off debt or restore your savings? When To Pay Off… Read more