Debt Blog, Debt Advice & Tips for Canadians

Multi-Level Marketing – The Answer You’ve Been Looking For?

By on December 20, 2012

It always seems that when life is difficult and all you need are some easy answers, someone random pops up in your life and introduces you to an incredible “opportunity” that they’ve just discovered. Whether it’s a relative, an old friend, or a perfect stranger at the beer store, the conversation always starts in a…

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Debt And Desperation – Know The Warning Signs

By on December 17, 2012

You know how when you’re in a failing relationship you sometimes end up doing or saying things that you’d never do normally?  Being in debt can trigger a similar reaction, and that feeling of being crushed under the weight of your debt is enough to make anyone start thinking and acting a bit irrationally. Debt…

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The True Cost Of Lending Money To Family

By on December 14, 2012

We all know that blood is thicker than water and that family comes first. So when a close family member tells you they’re in a bind and could really use some help, you should do whatever you can to help them, right? Most of us would lend money to family members with the best intentions,…

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Frugal Tips: Slash Your Cell Phone Bill

By on December 12, 2012

In your quest to be debt-free, cutbacks and sacrifices are a necessity.  When it comes to cell phones, many people overpay for the service they’re getting by remaining trapped in contracts they no longer need. Here are 6 ways to slash your cell phone bill for you and your family. Do You Even Need A…

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How To Break Your Spending Habits Once And For All

By on December 7, 2012

Let’s face it, getting out of debt requires a lot of discipline.  And sometimes even the best intentions get waylaid by habits that formed long before you decided to take control of your finances. That’s why a new book called “The Power of Habit”, by Charles Duhigg will be able to help a lot of…

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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 pours. …

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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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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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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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