Why Alberta has the Highest Consumer Debt in Canada

YOUR DEBT YOUR LIFE   Experiencing some level of debt is quite normal and in most cases necessary for Canadians to live full lives with families and careers. At some point you may say to yourself, I’m going to buy a house, a car and even more, some have families. Children are a huge expense and unexpected costs become a reality as you adapt to parenthood. Yes, we all know how easily personal debt can be created and accumulated and tough to get rid of. We take on credit card debt, mortgage loans and car leases and do our best to work and stay on top of our personal finances. In recent years, household debt in the homes of Canadians has steadily increased on average and the Province of Alberta has had a spotlight on it ever since. Related: What pushes people over the edge financially Today we’re looking at why newspapers and financial journalists have reported for years on the state of debt in this province since its role as an energy exporter in Canada’s economy is unique and the consequences financially have in past years seemed overwhelming. With the national average household debt ratio quite high in Canada, […]

Why Live A Frugal Life If You’re Always Going To Be In Debt?

JOKES ABOUT BEING CHEAP AREN’T FUNNY TO MOST PEOPLE   I’ve never heard anyone say that they LOVE living a frugal life. Carrying debt is not something to take lightly so choosing to watch where the dollars go is better than the stress of  debt collectors calling. Nobody wants to struggle with their finances. Nobody wants to budget but many of us do it so we can make ends meet and save for the future. We do what we believe we must do to get ahead, but not everyone thinks this way. Anyone that can add and subtract should realize that if you continue to spend money that debt will mount, especially if it’s not being paid in full every month. I’ve had the painful luxury of listening to a conversation between two guys who said there’s no point saving money because we’re all going to die before we can spend it. I’ve also been in the middle of a conversation where an acquaintance was saying to his wife that he doesn’t care about debt because he will never pay it off before he dies. I’ve come to the conclusion that some people are clairvoyant and can see into the […]

The Stranger way to borrow money online when you’re broke

STRANGER DANGER IS EVERYWHERE   Strangers chat all the time because that’s the way we get to know people in certain situations although there are certain situations where you have to pull back and just walk away. For some of those people they don’t need to go to work in order to earn a living these days. All you need is a great story and people who believe it and donate to your cause. It could be friends, family but mostly it’s a total stranger who opens up their wallet to help out. Not all stories are B.S. but how do you REALLY know? Not everyone feels comfortable communicating with people they don’t know. I’m not one of those people as I’m a friendly guy who doesn’t mind chatting up a storm. Last year I wrote a blog post about scammers in parking lots who come up to unsuspecting customers and ask them for bus money. It is a scam that is ongoing to this day but it’s not the only one out there. The problem is trying to sort out what is real and what is actually a scam. Would you even waste your time and energy on a […]

Why financial advice from rich people makes sense

FIND YOUR MONEY SUCCESS   Rich people are all around us and I’m betting most of them worked pretty hard to get where they are. Not all rich people are shady investors or business people but let’s be honest, we know they exist. The truth is there are many successful people who achieved their goals because they put in the effort. Not everyone has a top-notch career or thriving business bloom out of sheer luck. When it comes to our own finances it may be soothing to talk to anyone who will listen, but learning about how to fix your money situation from the wrong people can slow down progress. If you find yourself in a financial mess why would you seek advice from people who are in the same money crisis as you? If they can’t even get their own finances in order taking financial advice from them may not be in your best interest. That’s the truth. It’s a serious matter that too often people push aside because they think they will never find their way out of debt when all it takes is a bit of homework and dedication.   Who are these rich people?   You […]

How do you save money?

THERE’S ALWAYS A WAY   I want to learn more about the savings task that so many people struggle with. So tell me, How do you save money? We all tend to save money a little differently but for many reasons not necessarily for the long-term. Today I want to walk you through conversations I’ve had with a homeless person and a homeowner to understand how saving money differs depending on lifestyle.   Save money…. What is that?   So many people laugh when they read about saving money because they believe there is no such thing. This is a common mindset we have because we believe that if we don’t have excess every month then there is no possible way. Most people who do manage to save, find a way. There’s more to saving money than living frugal meaning you save money on sales etc. People easily overspend while simply shopping for food and other items on sale. That’s why the term “window shopping” is the best way to shop if you don’t really need to buy anything. Leave your wallet at home. Do we really know where our money is going?   A homeowners struggle to save money […]

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