Payday Loans as seen on HBO’s “Last Week Tonight with John Oliver”
I was recently watching my new favourite show, “Last Week Tonight with John Oliver” and to my surprise, a piece on payday loans was aired. It was a very humorous take on them, full of many interesting facts. It is in regards to payday loan companies in the USA, but in many instances it encompasses…
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Consolidation loans are a popular debt management option, but is it right for you?
Consolidation loans are a great way to manage your debt. If you can get one, it may be a great strategy for you to help you get out of debt. Using a consolidation loan to manage your personal debts will: Consolidate your personal debts into one monthly payment Reduce interest charges Will not damage your…
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Should I use my line of credit to pay off my debt?
We get asked this question a lot. Consolidating debt can definitely be a good strategy. The obvious advantage of consolidating your debt is that you reduce the interest you are paying. Therefore using your line of credit to consolidate your high interest credit card debt will definitely improve your situation and may help you to dig yourself out of…
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Signs of Financial Danger
At some point in their lives, everyone experiences problems with money. Financial problems aren’t necessarily the result of poor money management. Sometimes situations beyond our control, such as divorce, death of a spouse, health problems or a change in household income can lead to financial hardship and further danger like bankruptcy. While every case is…
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Black Friday: To Partake Or Not To Partake
With Black Friday making it’s appearance this week, it may be time to evaluate this “holiday” and decide if it’s a day we should actually partake in or if it’s just a ploy to push us further and further into debt. Like the U.S., Canada has become not just a country of big spenders, we are…
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Is playing hockey worth it if it means going into debt?
A recent survey shows that many Canadian parents are going into debt, or borrowing money from others, to register their children in recreational hockey. In a way, I get it. Hockey is a national past time and it almost feels like it’s our duty as Canadians to involve our families in hockey. But is it…
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Students Need Basic Financial Literacy Skills
With the number of young people seeking financial help these days, it’s becoming even more apparent that financial literacy needs to be taught in schools. I can’t tell you the last time I had to solve an algebra equation or explain to someone the properties of matter, but budgeting and money management are skills I…
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Payday Loans: An Ugly Cycle
Based on the number of payday loan commercials I’ve seen lately, I think it’s safe to say that payday loans are becoming a force to be reckoned with. The way a payday loan works is that the borrower usually takes out a fairly small loan and usually pay it back by their next pay…
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Having A Financial Plan Is Important…For Everyone
Having a financial plan is important for everyone regardless of their financial situation, but it is even more critical for individuals who are trying to rebuild after making a consumer proposal or filing personal bankruptcy. Dedicating time to financial planning can also help you protect the assets you have now and increase your wealth in…
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Eliminate Debt Demons for Halloween
Ghosts, witches and goblins make Halloween a scary time of year for everyone, but especially for families who want to avoid the horror of debt. The cost of costumes for kids (and some adults), candy for neighbourhood children, and elaborate decorating all add up (and this is just Halloween…don’t even get me started on Christmas)….
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