Debt Blog, Debt Advice & Tips for Canadians

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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Canada’s Household Debt is Slowly Increasing

By on July 4, 2012

Most Canadians, especially the elderly, are seemingly much more aware of their debt obligations and a good number are now making every effort to ensure that their debts are paid in good time to avoid the inevitable disappointments that result from unsettled debts. According to a poll initiated by the Canadian Imperial Bank of Commerce…

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Canadians Have A Big Appetite For Debt

By on June 21, 2012

A recent survey has revealed that a large number of Canadians are comfortable with going into debt in order to achieve some of the fine things in life. Most Canadians confirmed that they will be okay with getting into debt for accomplishments such as weddings, honeymoons, buying homes as well as paying school fees. The…

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3 Mistakes You Must Never Make When Trying To Get Out Of Debt

By on June 1, 2012

Everyone wants to learn how to get out of debt, and why not? Nobody wants to be in financial trouble. But even as most of us work hard to try and get out of debt, there are a number of mistakes that we make, which can cost us a great deal and even put us…

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