Debt Blog, Debt Advice & Tips for Canadians

Co-Signing A Loan: A Foolish Mistake?

By on November 23, 2012

Co-signing sounds like a great way to help someone in need.  Someone you know needs a loan or some other type of security guarantee – maybe it’s for school, a car, or an emergency payment for home repairs or medical expenses.  They won’t get approved for the loan on their own, but everything will be…

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Budgeting – The Other ‘B’ Word

By on November 21, 2012

Most people respond to the word ‘budget’ the same way they would if their dentist asked if they wanted some unneeded elective surgery, but the truth is a budget can be the single most helpful tool in your path to debt-freedom. What A Budget Is NOT A budget is not a constraint on your life. …

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How To Set Financial Goals As A Couple – Couples And Money: Part 3

By on November 13, 2012

We’ve already written about how having shared goals will help defuse money fights. If you’ve been chugging along like most people, struggling to pay bills, worrying about your job, and trying to figure out how you can afford a house, the idea of picturing an idyllic dream-come-true situation in the future might seem a bit…unrealistic….

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Stop Money Fights Before They Start – Couples And Money: Part 2

By on November 11, 2012

If you haven’t already figured out if you’re the spender or the saver in your relationship, take a look at our article about it here. Regardless of what role each of you play, money will probably be a contentious issue at some point in your relationship, and unresolved issues relating to it are one of…

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Are You The Spender Or The Saver? – Couples And Money: Part 1

By on November 7, 2012

You’ve heard that opposites attract, and nowhere is there more proof of that than in how couples deal with money. While it might not be black and white in your case, odds are one of you trends towards a ‘spender’ mentality, and one of you is the ‘saver’. The Spender Spenders love to have fun,…

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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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How To Pay Back Your Student Loans

By on October 30, 2012

Student loans will hang over your head until you finally pay them off. Depending on which statistic you look at, across Canada the average student loan balance upon completion of post-secondary education is between $13,000 and $27,000 (  That’s IF you have enough financial support to cover the rest of the average $20,000 – $60,000…

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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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Needs Vs. Wants – How to Make Tough Choices to Get Out of Debt

By on October 22, 2012

Everyone takes a different approach to paying off their debts. Some people are fine carrying some long-standing debt as long as their monthly cash-flow is manageable. Others see any kind of debt as a constant thorn in their side and their only priority is to get out as fast as possible. The math is simple:…

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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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