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How To Overcome Setbacks As You Pay Back Debt

By on November 2, 2012

You’ve committed to paying off debt and have at least started your emergency fund.  You’ve got a plan for paying off your debts: either the high interest method or the snowball method.  If everything goes perfectly, you’ll be out of debt at a measurable point in your future. But then something happens.  It doesn’t just rain – it…

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Does Your Mortgage Count as Debt?

By on October 26, 2012

Sick and tired of credit card debt, lines of credit, collections calls, and generally being out of control with your spending? It’s time to commit to getting on a budget and paying off your debts. Most of the amounts are manageable: $1,500 on the credit card, $4,000 on your line of credit, maybe $300 on…

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Frugality – Your Best Strategy for Becoming Debt Free?

By on October 17, 2012

The idea of frugality as being your best bet for paying off debts is not a new one. Made popular by David Bach, he calls it the “latte factor”, explaining how your quick trip to Starbucks for a $3 coffee every day is actually crippling your chances at a strong financial future. The logic is…

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Debt Repayment – High Interest First or the Snowball Method?

By on October 11, 2012

If you’ve decided to work your way out of debt, just getting organized to understand how much you owe can be challenging. Between different lenders for your student loans, multiple credit cards, a line of credit, car loan, payday loans, and a mortgage, figuring out exactly what your debt number is can be confusing. Even…

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How To Manage Your Emergency Fund

By on October 5, 2012

In a previous article (Build an Emergency Fund and Avoid Borrowing More Money) we discussed how an emergency fund was the first important step to stop debt accumulation in its tracks. If you followed that advice or are lucky enough to have a small amount tucked away that can function as your emergency fund, it’s…

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Say NO to Payday Loans

By on September 26, 2012

Payday loans are seen as a last-resort option for someone who needs a quick bit of cash (in theory a few days before you receive your regular paycheque). Unfortunately, many people fall into a trap of not being able to pay the loan back on time and end up paying exorbitant interest rates. If you…

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Build an Emergency Fund and Avoid Borrowing More Money

By on September 9, 2012

If you’ve decided that you’ve had enough of debt and it’s time to get out, you have to make an important first step: Draw a line in the sand In the case of getting out of debt, that line is: NO MORE DEBT. Some people seem to think that they can get out of debt…

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How To Manage Debt During Tough Times

By on August 18, 2012

Debt is a challenge, and more so when you are going through tough financial times. During such times, what you earn is hardly enough to satisfy your daily needs. If your income is not enough to meet your most basic requirements, then meeting your debt obligations becomes even more challenging. In your efforts to settle your…

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What To Look For in a Debt Relief Company

By on July 30, 2012

Choosing the best debt relief company can be a difficult task. Debt is a sensitive topic and many Canadians are not comfortable sharing information about their very personal situation. However, it is important to ensure that you don’t spend all of your time worrying about settling debts because this can derail you from achieving other…

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Tips To Pay Off Your Credit Card Debt in Canada

By on July 26, 2012

A debt free financial life is the dream for everyone, not only in Canada but in all parts of the world. You feel good when you know there is no one waiting on you to pay back their money that you may have borrowed some time back. Yet this is a difficult position to attain…

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