Debt

How credit card interest works

How Credit Card Interest Works

Credit cards are essential for many Canadians. However, if you’re not responsible with your spending, you could easily go into debt. Credit cards act like an interest free loan which is great, but once your bill arrives, you need to pay it on time and in full or you could end up paying 20%+ interest.…

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How to Plan a Vacation Without Going Into Debt

How to Plan a Vacation Without Going Into Debt

After being following strict guidelines over the last few months, many people are starting to get the travel itch. Many Canadians have started to travel within their own province, while domestic travel has likely seen more interest. As the airline and hotel industries try to recover, we’re starting to see some serious deals. I saw…

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15 Ways for How to Get Out of Debt

According to Statistics Canada, the Canadian household-debt-to-income ratio was an astonishing 176.9 per cent in Q1 of 2020. That means on average, Canadian households owe $1.77 or every dollar they bring in. That’s an increase from 175.6 per cent which was previously reported in Q4 of 2019. Clearly a global pandemic has wrecked our finances.…

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Unconventional Money Moves to Make

Unconventional Money Moves to Consider

Ever since COVID-19 became a global pandemic, many people have had to make significant adjustments to their daily lives. Many people have started to work from home, wearing masks in public is no longer unusual, and how we manage our money has changed. I’d love to tell you that sticking to traditional money advice such…

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When Should You Consider Using the Services of a Licensed Insolvency Trustee

When Should You Consider Using the Services of a Licensed Insolvency Trustee?

Unfortunately, I’ve been getting a lot of questions about bankruptcy and consumer proposals as of late. With debt at an all-time high, people are just looking at their options and hoping for a new start. To help you navigate the decision to seek professional help, I reached out to Linda Stern, a licensed insolvency trustee…

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How to Redeem Travel Points for Gift Cards or a Statement Credit

With most of the best travel rewards programs, redeeming your points for a gift card or statement credit is one of the worst things you can do since they offer low value compared to travel rewards. Generally speaking (and depending on the program), using your points for anything besides travel will devalue your points by…

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3 Steps to get Your Finances Back on Track

**This is a sponsored post written by me on behalf of President’s Choice Financial®. All opinions are my own. Did you know that November is Financial Literacy Month? The Financial Consumer Agency of Canada came up with the idea to encourage Canadians to take control of their finances. Private, public, and non-profit organizations all get…

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what to do if you have too much debt

What to do if you Have too Much Debt

What to do if you have too much debt? It’s a question I hope you never have to ask. But with Canadians having record debt levels, some of us need to start taking our finances a bit more seriously. If you’re starting to worry about your debt, try to think about the positives. You know…

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stop spoiling your kids

Stop Spoiling Your Kids!

Spoiling your kids helps no one. Growing up, I knew a guy who received a Mercedes when he turned 16. He was hugely popular in high school (the car may have something to do with it), but he barely graduated and ended up dropping out of college. He later accumulated $50K in debt, which his…

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in the mood for money

In the Mood for Money

As you all know, earlier in the year, I bought a home. I used the majority of my savings which was a weird feeling for me. Even though I knew I was building equity, seeing my six digit savings “disappear” was not a good feeling. Right now, I’m rebuilding my savings, so every purchase hurts.…

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