Author Archives: Sharon Hoyes


About Sharon Hoyes

Sharon Hoyes, CA, CPA is a Chartered Accountant and Managing Editor at writing about personal finance and consumer news and how it affects your debt.

Good judgement comes from experience, a lot of which comes from bad judgement. We all know too much debt is not a good thing, but debt management is not necessarily a skill we all possess. It’s not like you set out with the objective of borrowing more than you can… Read more

You have a lot of debt and are tired of circling around the issue. This year you’ve decided to take back control and wrestle your debt to the ground. Your hope: to avoid filing bankruptcy but basically to eliminate your debt once and for all.  Here are five debt reduction… Read more

You want to eliminate your debts and you do well keeping on track most of the time but no matter how hard you try, you sometimes fall back into the same old cycle of running out of money by payday?  You could be doing lots of things right like keeping… Read more

We all know the importance of teaching our children to earn, save, invest and donate money. When they are young you may give your children an allowance and talk to them about spending it wisely. As they approach their teenage years you probably encourage your children to earn some of… Read more

I’ve read several articles recently about how much debt is too much, or whether you should have any debt at all. While we all might strive to live a debt free life, the truth is that we are likely going to rely on debt at some time in our lives. If… Read more

Depending on the study you read the average Canadian family will spend $500 or more on back-to-school supplies and clothing this year. Many will end up putting that expense on their credit card, adding to an already strained debt load. Here are some easy tips for stretching your back-to-school shopping… Read more

Dealing with your debts through an accredited credit and debt counsellor can improve your long term credit risk. A recent study released by the Canadian Association of Credit Counselling Services showed that consumers who repaid their debt with the assistance of a credit counselling Debt Management Plan proved to have… Read more

Canadian household debt measures are showing signs of improvement which is good news. Consumer debt-to-income declined for the second consecutive quarter to 161.8%, as income growth outpaced debt growth. The good news: The decline in the debt-to-income ratio from its peak of 162.6% shows Canadian households are starting to get… Read more

Let’s face it, credit card debt is almost the norm today. We are accustomed to using credit cards as part of our every day life. When used wisely, the benefits of credit cards are very appealing – they are easier to carry than cash, can help us build up our… Read more

Is the recession over in Canada? Are Canadians, on average, in better financial shape than they were during the height of the collapse? A look at the personal bankruptcy statistics in Canada would seem to say so. The Office of the Superintendent of Bankruptcy recently reported that total bankruptcy and… Read more