Debt Blog, Debt Advice & Tips for Canadians

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You Paid Off Your Debt, Now What?

By Alyssa Davies on November 24, 2016

You did it, you finally made that last payment and your debt is paid in full! Now, you are ready to move on to bigger and brighter things. Money management is something you feel you can finally control and understand, which has become an important part of your new financial life. But after all of…

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How Parents’ Debt Affects Children

By Amanda Reaume on November 15, 2016

While they might not always show it, children are incredibly sensitive to everything going on in their parents’ lives. It’s therefore not surprising that the stress that family experiences from dealing with debt could have an impact on kids. A recent study by Lawrence M. Berger of the Institute of Research on Poverty at Dartmouth…

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The 3 Things You Need Besides Money To Pay Off Your Debt

By Andrew Daniels on November 7, 2016

You’ve decided that you want to break free from debt once and for all. Congratulations! When it comes to paying off your debt there are a lot of things to think about, but deciding to get out of debt is the biggest decision of all. While money is the most important part of debt repayment,…

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5 Ways to Reinvent Your Social Life While Paying off Debt

By Alyssa Davies on August 22, 2016

For those of you who are just starting to pay off your debt, I’m sure you’ve realized that changing your lifestyle to reach your goal of financial freedom is difficult. Your friends and family are still planning outings that you would at one point, never turn down. But now you have to. So what does…

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Lifestyle Inflation: A Wake Up Call

By Amanda Reaume on June 25, 2016

When you get a raise at work, do you immediately think about what you’ll buy with the extra money? When you find out that you’ll be getting an income tax refund, do you plan a trip or a special outing? If it seems that no matter how much money you make you have a hard…

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The Real Reason I Paid off $38,000 in Two Years

By Jordann Brown on June 16, 2016

There are so many reasons to pay off debt. Maybe you want to be free from creditors. Or you want to increase your disposable income. Maybe you want to save more for things you care about like travel or a home, or maybe you straight up just want more money in the bank. These are…

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Should You Rent Your House Out On Airbnb?

By Amanda Reaume on May 20, 2016

With Airbnb growing in popularity, many people are wondering whether they could make extra money by renting their homes out on the site. Maybe one of your neighbours or friends is doing it. Or maybe you’ve stayed at an Airbnb listing while travelling. Whatever the reason, for those who are considering the prospect there are…

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What No One Tells You About Paying Off Debt

By Jordann Brown on May 11, 2016

When I started paying back my $38,000 debt load four years ago, I thought I knew a thing or two about debt. I knew that taking on student loans and car loans is considered normal. I knew that most Canadians carry debt. I knew that paying off my debt would not be an easy feat….

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Why Your Debt Service Ratios Matter

Why Your Debt Service Ratios Matter

By Debt.ca on February 20, 2016

For most families, a mortgage is the largest amount of debt you’ll incur in your lifetime. With home prices reaching the stratosphere in many housing markets nationwide, homebuyers are taking on larger mortgages than ever before. A mortgage represents a lot of money, so mortgage lenders do their homework before approving your loan. Lenders use…

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How to Tell Someone You’re in Debt

By Debt.ca on February 18, 2016

Do you need to tell someone you’re in debt, but are afraid of their reaction? Honesty and trust are vital in a healthy relationship. If you’re in debt and hiding it from your partner, family, and friends, you’re only ignoring the inevitable. Sooner or later, they’re going to find out about your debts and feel…

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