What Are Your Sources For Financial Stress?

MANAGING MONEY PROBLEMS DOESN’T START WITH EARNING MORE.   How many of you are in a state of financial trouble? I don’t want to know because that is a question for you to tackle possibly signaling time for a financial stress test. If you really want to fix your financial stress it takes more than just earning more money. Let me explain. If you answered yes to my question you might want to take a bow, raise the curtain on your debt show and start a new chapter. If you can’t make ends meet don’t sit around waiting for collapse get ahead of the game because if you suffer from financial stress now it will only get worse. Unfortunately not everyone may be able to get ahead especially if living on a fixed income. For those who are and can manage the bills with what they get financial stress looms over them just as much as the next person. If you believe you can’t get ahead because your income doesn’t cover the bills and you’re debt free then something must change. We can all say no to credit and creating debt we don’t need but we can’t all rush out […]

The Saturday Weekend Review #34: Canadian mortgage rates on the rise

Mortgage Rates Going Up Again They say nothing lasts forever but it should come as no surprise to Canadians when they read that mortgage rates are on the rise. This rise apparently may have a negative impact on the Canadian housing market but I’m going to sit back and see how far they are willing to take this and how many Canadians are still ready to buy. Still, I believe many Canadians are on the fence about whether they should rent vs buy because of their debt load and inability to save up as much as they want or need for a down payment. I know we have friends who aren’t sure what to do because they are still saving up for their down-payment. Owning a home is great but with it comes along plenty of work and upkeep that a new homeowner must be prepared for with time and finances. I see more Canadians reaching out for help when it comes to setting up a budget, grocery shopping and just generally want to get out of debt so they can buy a home or life a debt-free lifestyle. My hope is that with all the information available to people […]

The In’s and Out’s Of A Debt Reduction Plan!

Photo Credit According to Statistics Canada the ratio of household debt to personal disposable income in 2011 was 150% up from 66% in 1980. Did you know that in 2009 two-thirds of Canadian households had outstanding debt that averaged $114,400. Is a debt repayment plan right for you? Do you need to think about credit card debt consolidation? If you have debt, then the answer is YES to a debt repayment plan more importantly if you are struggling to pay back debt to potentially consolidate. If you are struggling it is very important to let the people you owe money to know that you are working on paying them back. Let them know you have  a plan of action. Creditors want to know they will get their money so communicate with them and tell them. If you don’t they may sell your debt to another company who may charge you a bigger interest rate. Some creditors would rather make something than nothing but the third-party will stop at nothing to get it out of you. It’s also a good time to mention that at least once a year you should order your free Canadian credit report so you have it in front of […]

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