Canadians are seeking financial freedom and continuing to struggle. COVID came when personal debt was already at an all-time high. Shockingly, insolvencies went down over 25 percent during the first year of COVID. The stimulus is behind us now, and many are facing financial struggles once more. It’s scary, unfamiliar territory for many! However, help is…
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Update: All claim periods for the CEWS are now closed. Did your business experience a decline in revenue during the COVID-19 pandemic? Have you been forced to lay off employees? Is it something you may have to do? Would you like to hire more workers? If so, the Canada Emergency Wage Subsidy (CEWS) may be…
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CWLB ended on May 7, 2022. As we approach the end of 2021, Canada is on its way to economic recovery, with employment now back to pre-pandemic levels. To reflect this new phase of healing, the federal government of Canada is revisiting and adjusting pandemic-related income support programs. As of October 23, 2021, the Canada…
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One financial storyline that emerged from the past 18 months was the ability of Canadians to pay off high-interest debt. As a result, debt prioritization has been on the mind of millions lately. During the peak of the shutdown months, with fewer places to spend money, plus monetary support from governments, Canadians paid down $16.6…
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Debt is rising in Canada, with the average Canadian owing about $1.70 for every $1 of disposable income. Low-interest rates encouraged a steady rise in mortgage debt as well. Even without COVID-19, it’s always been common for millions of Canadians to struggle with debt. Student loans, credit cards, payday loans, and tons of other debt…
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November is Financial Literacy Month in Canada. Various non-profit organizations and community groups partner with the Financial Consumer Agency of Canada (FCAC). In this effort, they all encourage Canadians to improve their financial well-being. Throughout the month, there are national events to educate the public about the importance of financial literacy. These events promote financial…
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Making a budget and sticking to it can be one of the most difficult parts of paying off debt. It entails doing some heavy research into your own habits and cutting back on certain parts of your life you may not want to. The good news? It’s not going to be as painful to determine…
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You know being in debt is incredibly stressful. While you’re doing everything you can to get out, it’s important to stay healthy and active. Adopting a hobby is an excellent way to stay socially active and learn new skills. Even if you’re struggling with debt, there is a cheap hobby out there for everyone. Feeding…
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Experiencing a financial emergency can be a harrowing experience. But it happens—especially nowadays. What can you do when paying interest on debt becomes too rough? A line of credit can help you get through tight financial times. What is a line of credit? Lines of credit are loan types that allow you to borrow money….
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What is financial infidelity? Financial infidelity consists of hiding credit card purchases and other debts. It can even go as far as creating secret accounts that your partner doesn’t know about. It can also include making big financial decisions without consulting your partner. When you save money or spend, being honest with your partner can…
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