Debt Blog, Debt Advice & Tips for Canadians

Is Credit Card Balance Protection Insurance Worth It?

By Debt.ca on April 22, 2014

If you have a credit card, chances are you’ve been offered balance protection insurance. The sales pitch seem appealing – credit card companies say they will be there for you in the event that you run into financial difficulties and are unable to pay your outstanding balance. At first glance balance protection insurance seems like…

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Frugal Living vs. Big Wins

By Debt.ca on January 3, 2014

When you’re struggling with debt, it’s hard to ‘think big’. Pinching pennies becomes a way of life and your next bill is the only thing you’re concentrating on. But maybe this isn’t the best approach. The Immediate Danger In martial arts, some teachers say that in any conflict you should ‘address the immediate danger’. This…

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Don’t Be a Slave to Recurring Expenses

By Debt.ca on December 21, 2013

Pre-authorized payments have made paying your monthly bills easier than ever. No fuss, no muss – your balance owing is automatically debited from your bank account, so you never have to worry about paying your bills late again. Although this is a blessing, it can also be a curse. As companies push their customers to…

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5 Tips for Paying Down Your Student Loan

By Debt.ca on December 11, 2013

If you’re looking to get started in a well-paying career, chances are you’ll need post-secondary education. College and university have become the new high school of our parent’s generation – no longer can you work your way from the mail-room to the boardroom. Student debt can put a serious damper on your dreams of home…

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Rethinking Debt

By Debt.ca on November 27, 2013

When it comes to debt, it seems people fall nicely into these two categories. Some people passionately believe that all debt is bad, while others argue that the only way to truly get ahead is by using borrowed money as leverage. At Debt.ca our goal is obviously to help people get out of debt, but…

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Filing for Bankruptcy vs. Debt Consolidation: Comparing the Two

By Debt.ca on November 8, 2013

In a rough economy it can be tempting to declare bankruptcy, especially if you have rather large debts and a low income. After all, once you’ve declared bankruptcy, your creditors can no longer pursue you for the amounts you owe. However, bankruptcy can also have negative consequences. Filing for bankruptcy can force you to surrender…

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Are Credit Card Points Truly “Rewards” or Are They Costing You?

By Debt.ca on November 6, 2013

Many people see credit card points as rewards, but are they really? It could be that they are actually costing you unnecessary money. Points are very popular promotions offered by virtually every single credit card company on the planet, and they usually allow customers to get free stuff. This could come in the form of…

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Investing in RRSPs vs. Paying Off Debts

By Debt.ca on November 5, 2013

There are a lot of factors to consider when deciding whether or not you should focus on paying off your debt before contributing to your RRSPs, or invest more in RRSPs rather than aggressively trying to pay off your debt first. It’s a difficult decision to make – you want to make sure you have…

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Here’s a Quick Way to Get Focused On Your Goals

By Debt.ca on October 8, 2013

Somewhere in the back of your head, you KNOW that setting financial goals is important. But when you’re struggling with debt or other financial challenges, setting lofty goals may be frustrating more than helpful. After all, isn’t your only goal “I’d like to not be broke”? Fair enough, but the better you get at setting…

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Make More Money #2 – Have a Second Job You Can Be Proud Of

By Debt.ca on September 25, 2013

In the first Make More Money post we talked about how to get started in freelancing. If you read through that and decided that freelancing isn’t for you, don’t worry. A second job might be the perfect solution. In our second Make More Money article, you’ll learn how to make the most of a second…

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