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Money problems are affecting nearly one third of all Canadians. An online survey conducted by the Angus Reid Institute (ARI), revealed that approximately a quarter of Canadians struggle to make ends meet. The survey was conducted from May 28 to June 13, 2018, among a randomized sample of 2,542 adult Canadians. The population sample is…

There are many economic factors that can affect your finances, for example, inflation. Earlier this year the inflation rate in Canada went from 1.7% to 2.4% during the first quarter. This was mentioned in our previous blog, “Inflation Rate, What You Need to Know.” When inflation rate starts to rise, lenders understand that they will…

Life is filled with many unexpected twists and turns that can affect our ability to make debt payments. And, we have the responsibility of figuring out what to do when confronted with the unexpected. A way to counter act the unexpected is to plan for the future. One of the most significant life events that…

The Bank of Canada’s Governor, Stephen Poloz, made the decision to maintain the banks interest rate on Wednesday, May 30, 2018. There are a few factors that influence this decision that include Canada’s economy, household debt, mortgages, and consumer debt. According to an article posted by the Toronto Star, Canada’s household debt, mortgages and consumer…

Saving money should always be a top priority with your daily routine. This does not mean you are being cheap, but rather, you are smart with spending money. In addition, saving money is easier said then done; it takes time and effort to really pull it off. This is where one of the basic concepts…

Canada’s annual inflation rate has a big influence over managing debt and controlling finances. Recently, the country’s inflation rate has increased gradually over the first few months of 2018. In January, the inflation rate stood at 1.7%, increasing to 2.2% in February and then 2.4% in March. The increase in Canada’s inflation rate is partially…

Canada’s interest rate can have a big influence over an individual’s ability to manage debt and control their finances. Within less than a year, the Bank of Canada has increased its interest rate 3 times. This is a common theme covered in our previous blogs: The Canadian Economy Powered Up, The Bank of Canada Increases…

Life provides us with many signs to help us avoid unwanted situations. For example, animals go quite before a storm, our body sweats before it overheats, and creditors notify you when money is owed. We have the ability to avoid most unwanted situations, but, that is easier said then done. It is up to us…

Being Licensed Insolvency Trustees (LITs), our goal is to provide assistance to help individuals become debt free. A common false perception of LITs is that they are only necessary to file for bankruptcy. This is not true. Consultations The first option that most Licensed Insolvency Trustees offer is a free consultation. This is very beneficial…

One of the strongest tools we have to manage our finances and consumer debt is knowledge. If your spending time learning what to do with your money, then you’re not using that time to spend money. There are many sources of information around us that can teach us the financial wrongs and rights. Some of…