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Author Archives: Paul
Paul’s six steps to become debt free
1) “Know your finances intimately” This process begins with knowing how much income you have and where it’s going. Start by working out your monthly income and list the sources of this income. Then list your expenditures. 2) “Decrease your … Continue reading
Posted in Debt, Finances, Savings
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Credit Card Interest and Fees
What is interest? The basic definition is the fee paid for the privilege to borrow money[1]. The interest fee is the price a person pays for the ability to spend money that would have otherwise taken them a while to … Continue reading
Posted in Debt, Finances
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Student Loans (Not a student but still in debt)
With the growing cost of tuition fees, books, and residency, many students need the assistance of a government student loan. If you need a student loan, you should use it. Investments in advanced education usually pay-off in terms of higher … Continue reading
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Don’t let your credit card use you
Remember to only spend what you can afford. Some people view their credit cards as an endless source of money that they somehow don’t have to pay. You must remember that you have to be able to pay the card … Continue reading
Posted in Debt, Finances
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Over your head financially? You’re not alone.
A total of 145,233 Canadians filed for bankruptcy or submitted a consumer proposal for the 12-month period ending June 30, 2010. This represents a 6.2% increase over the previous 12 months.[1] With escalating fuel and food costs card debt is mounting and many Canadians are … Continue reading
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Yikes… now we have to live on one income
The average Canadian family has both spouses working outside the home. We live in a culture that encourages a high standard of living, often unachievable by a single salary. But whether your significant other experiences a job loss, sickness, or … Continue reading
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Reorder your finances and rebuild your life
The following percentage breakdowns are for a four-member family with an annual gross income of $130,000 or less. Disposal income shown in brackets is the money available for you to spend after you have paid income taxes, CPP and other … Continue reading
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Paul’s list of everyday money wasters!
People often say they want to make big life changes, but then assume they can still get away with small indulgences. I’m here to tell you they all add up and account for the bigger problem of wasting money. Here … Continue reading
Posted in Savings
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How to Work with Creditors
You want to pay your bills, but lately it’s impossible even to meet the minimum payments or due dates. You also want help, but all you’re getting are hassles from creditors. What do you do? First of all, it’s difficult … Continue reading
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Four deadly debt generators
Debt can overwhelm any of us if it gets out of hand. So let’s look at the top three ways people get into out-of-control debt in the first place, and how to avoid it. Home purchases Inadvisable home purchases are … Continue reading
Posted in Debt
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