Debt Blog, Debt Advice & Tips for Canadians

Get Your Personal Finances on Track

By Rubina Ahmed-Haq on April 9, 2019

Getting your personal financial house in order takes time and guts. You must put effort into setting up a system that will work for you, and come to terms with all the debt you’re carrying and your poor money habits. Studies show that money is one of the biggest stressors in our lives. A recent…

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Zero-Based Budgeting: Every Dollar Matters

By Sean on April 4, 2019

Zero-based budgeting is when you allocate every dollar of your monthly income for budgeting purposes. In other words, your income minus expenses should be equal to zero. To do that, you need to ensure your monthly expenses match your monthly income, and that every dollar is being given a purpose. Here’s an important distinction: A…

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Self-Employed and Small Business Taxes 101

By Rubina Ahmed-Haq on April 2, 2019

Tax time can be stressful in the best of situations.  For Canadians running their own businesses, this time of year can be especially daunting. Dealing with different sources of income, managing business expenses, claiming GST/HST and possibly dealing with a tax bill to the Canada Revenue Agency (CRA) in April: all of this can be…

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Disability Tax Credit

By Sean on March 25, 2019

The disability tax credit (DTC) is a tax credit to help lessen the tax burden of those with a disability and their supporting person. In this article we’ll look at who is eligible for the DTC and what happens after you send in Form T2201, among other things. What is the disability tax credit? The…

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Understand If a Debt Settlement is the Right Solution for You

By Rubina Ahmed-Haq on June 7, 2018

For anyone struggling to pay their month-to-month bills and service their debt, the stress can be overwhelming. In many cases the debt continues to climb, despite making payments, because you’re expenses keep rising. The strain of this can be devastating; studies show Canadians are increasingly worried about their financial situation. Many aren’t sure how they…

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Negotiate Lower Interest Rates While Paying Off Debt

By Jordann Brown on April 9, 2018

Paying off debt is hard work. It often requires months of persistence, strict budgeting, and frugality. It’s not a fun experience, which is why so few Canadians are debt free. If you don’t love the idea of living frugally while paying off debt, you should look into ways to pay it off faster. Most of…

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Dealing With Debt: The Avalanche vs Debt Snowball

By Rubina Ahmed-Haq on April 5, 2018

Face it, when it comes to debt, no matter how big or small, it can be a major source of anxiety for Canadians.  Paying debt off is a priority for most people but many worry how they will do it. According to the most recent MNP Consumer Debt Index, Canadians are increasingly worried about their…

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CRA Tax Tips to Get Your Return Done on Time

By Rubina Ahmed-Haq on April 2, 2018

It’s that time of year again when Canadians start scrambling, to get their tax return completed before the deadline to avoid a penalty. This year that date is April 30th, 2018. But don’t worry there is still plenty of time to get your tax return completed and sent off the Canada Revenue Agency (CRA). There…

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How to Become Debt Free Before Getting Married

By Amanda Reaume on March 16, 2018

Are you planning on getting married, but worried about how the credit card debt, auto loans, or student loan debt you or your partner currently carry will affect your relationship? It’s no secret that money is one of the things that couples fight about most. According to a study by Money Magazine, 70% of couples…

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Interest Rates Are Rising – Now is the Time to Get Out of Debt

By Amanda Reaume on March 5, 2018

Got credit card debt? How about personal loans, home equity lines of credit, or auto loans? If you do, the cost of servicing your debt may increase in 2018. Bank of Canada has already increased interest rates to 1.25 in January, up from 1 percent. This might not seem like a huge jump until you…

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