5 Key Benefits of Debt Reduction To Help Motivate You : January 2017 Net Worth Update (+0.28%)

  FINDING WAYS TO BE HAPPY IS NOT ALWAYS AN EASY TASK ESPECIALLY WHEN YOU ARE IN THE DUMPS ABOUT YOUR MONEY SITUATION.   Building wealth from nothing is the path many of us will take but along the mystical route of debt reduction and increasing net worth motivation is a crucial tool for success. The only way to start building wealth is to explore debt reduction strategies for ways that will help with debt problems that may be causing you stress. I understand why someone might classify having debt under the good debt category and the bad debt category however managing debt means your debt to income ratio is all that matters. Related: Order your Canadian Credit Report Free If you are serious about getting help with debt don’t start making excuses as to why your personal debt is more important than the debt you incurred by getting an education. Debt is Debt and if you change your financial mindset to that of a successful business owner you’ll soon see how critical debt reduction is for all of your liabilities. I remember a time where I got to the point that I had no intentions of creating more debt […]

Is there such a thing as healthy debt? :PF Grab a Brew #79

WHAT DEBT MEAN TO YOU   When does owing money become healthy debt or unhealthy debt? When will you be debt free? Can you handle having debt? What does handling debt mean? These questions and many more can only be answered by… you! I was reading a recent article on Yahoo about how Canadians are potentially facing debt fatigue which keep people on the beaten debt path. It’s not surprising though with the amount of people who are swimming in debt with nowhere to go. What I found interesting was that maybe many Canadians find having debt less of an issue because interest rates are so low. Really? Is that how you feel? I would hope that we as Canadians take that as a warning as well as a blessing to make sure that we are money ready just in case some twist of financial fate comes our way. I’m a planner so when we started using our budget spreadsheet it was a relief knowing that we were spending less than we earned with some room for movement just in case.   When will you be debt free?   A recent poll by CIBC suggests that age 53 is when […]

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