Debt Warning Signs
I’ve heard from many people that they didn’t realize how bad their situation was until it was too late. It’s important to take control of your debt situation early so that you may be able to prevent filing bankruptcy by consolidating your debt or making a consumer proposal. If you wait too long, bankruptcy may…
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Saving Money and Back-To-School
This September, both of my children will officially be in school. It’s hard to believe time has flown by so fast, but it’s also hard to believe how much money I’m expected to spend on school supplies. Since the beginning of August has now crept up on us, we will begin to see the back…
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Talking To Your Kids About Debt
It’s fairly common for parents who are going through hard financial times to never mention debt in the presence of their children. What some people don’t realize is that today’s kids are smarter than you think, and they can usually sense what’s going on at home. What kids can’t understand is why. As a responsible…
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How do payday loans work?
It’s impossible for us to foresee the future. If we could, we could budget accordingly for when our cars break down, or when our roof starts leaking, etc. But since we can’t see into the future, the funds to take care of such problems may not always be at hand. In such situations, many people…
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How Much Debt Is Too Much Debt?
The answer is simple, more debt than you can pay is too much debt. Someone called me recently to ask me questions regarding his wife’s debt issues. She was laid off a couple months ago and was unable to pay her credit cards while on unemployment. She was very behind on her payments and was…
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You can’t borrow your way out of debt!
You cannot borrow your way out of a debt problem. Many clients have been drowning in debt for quite some time and decide to start using cash advances from new credit cards to make minimum payments on old credit cards. This is never a good idea. If you can’t afford to pay the original credit…
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Many Millennials Are Facing Overwhelming Debt
Millennials can’t seem to catch a break. The generation born between the late 1980s and the early 2000s often gets ridiculed in society as a group of carefree hipsters who love the latest tech innovations but loathe work and real responsibility. Even if they can shake off this unsavory reputation, Millennials all seem to agree…
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10 Habits of People Who Are Debt Free
After helping consumers file bankruptcy for as many years as I have, I have become very aware of the power of debt and the havoc it can wreak on someone physically, mentally, and emotionally. I have seen marriages tested (or destroyed) because of money. I have met with clients who suffered heart attacks or stokes because…
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Creating a Financial Checklist
These days, most people I know don’t have a financial plan. We spend a lot of time planning for other aspects of our lives, such as our careers, marriages and having kids, but many of us fail to build a plan to achieve our financial goals. Checklists are great, especially when it comes to finances….
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How to Escape the Payday Loan Cycle
I’ve said it before and I’ll say it again, payday loans are a vicious cycle. If you’re struggling to make ends meet, the worst thing you can do is take out a payday loan. The payday loan cycle is a simple concept. You borrow from one payday lender for an emergency and suddenly find yourself at…
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