8 reasons to pay off your overdraft today.

by Helen Ramlal on September 30, 2014

overdraft debt management

Paying off an overdraft—and staying above zero—is a very powerful step in debt management and relief from financial stress.

Here are the top 8 reasons why:

1. Find some solid ground on which to stand.  If your account is overdrawn, how do you feel?  Not so great.  You can’t build a castle on shifting sand.  When your foundation keeps moving south, your plan starts to flounder.  A positive bank account balance will give you the strong baseline you need.

2. Immediate calm.  When you have $3.00 in your bank account—you get that.  What does it mean to have -$574.52?  A negative balance makes you feel out of control, overwhelmed, and helpless.  There’s a feeling of calm when you’re above zero, even by a few dollars.  [click to continue…]


debt consolidation article

Two thoughts came to me after reading a surprising report this month about Canadians who are living paycheque to paycheque. First, if you’re among those feeling trapped financially, you can take some solace from knowing that you are far from alone in this country. Second, there are ways to deal with living paycheque to paycheque, and I have some pointers that may offer relief, including the option of debt consolidation to help with debt relief. But for starters, let’s talk numbers.

Startling perhaps best describes the findings of a recent survey released by the Canadian Payroll Association. It shows that more than half of working Canadians – 51 per cent to be precise – say they would have trouble meeting their financial obligations if their paycheques were delayed by only a week. At the same time, 63 per cent of Canadians aged 18 to 29 say they are living paycheque to paycheque. Meanwhile, 26 per cent of the thousands surveyed say it’s unlikely they could come up with $2,000 in a month’s time to handle an emergency. Debt, too, is a big concern, with 39 per cent of respondents noting that they feel overwhelmed by what they owe. [click to continue…]


Improve Your Credit Score

by Helen Ramlal September 23, 2014

Everyone wants a higher credit score.  Why?  You are more readily approved for credit, you receive more favourable rates and, generally-speaking, life becomes much easier to navigate. What is a credit score? A credit score is a calculation that considers a wide range of financial variables in your life and then reduces that information down [...]

Read the full article →

Denial isn’t a river in Egypt. It’s in Canada flowing with debt.

by Laurie Campbell September 16, 2014

True enough, that old joke about Egypt. But denial certainly can be found in Canada these days. It winds its way across the land as many of us continue to overspend through credit card debt and personal loans that are putting household debt levels at ever-growing record highs. That’s not even counting mortgage debt, which [...]

Read the full article →

It’s beginning to look a lot like…

by Jillian Rodrigues September 11, 2014

Christmas is right around the corner! Okay so maybe it isn’t. But have you started thinking about all of the expenses you will incur over the holidays? Vacations, trips, holiday dinners, and of course gifts!!! December may seem far away; however considering how frequently people go over their budget during this month, now may be [...]

Read the full article →

Life’s financial passages. The long view on debt management.

by Laurie Campbell September 9, 2014

  Take it from my friend Bob, putting your money into the perspective of a lifetime is a good idea. Now approaching his retirement years, Bob had little patience since his college days for putting thought into his personal finances. And he regrets it, particularly in light of the fact that he received a nice [...]

Read the full article →

Financial Planning For When Kids Leave Home.

by Helen Ramlal September 4, 2014

Kids leaving home for the first time to attend college/university is a mixed-emotional soup for both parents and students—there is excitement, joy, a sense of pride as well as worry and anxiety.  Lots going on.  So perhaps, it’s also a good time for some astute financial planning and forward thinking that will ensure the experience [...]

Read the full article →

Online fees can sneak up on you. Debt management can help.

by Laurie Campbell September 2, 2014

This week I ask, have you  got a handle on online charges and subscription fees relating to cable and Internet-mobile services? The outlays ought to be tracked and built in to a  budget that you put down in writing and use for your debt management. Check your bills from the last few months for charges [...]

Read the full article →

Dating & money. Could credit card debt break your heart?

by Laurie Campbell August 28, 2014

  I can’t argue with the young Beatle Paul McCartney when he sings, “Money can’t buy me love.” On the other hand, I can argue that only an innocent or a fool would dismiss the important role money plays in dating, especially when a relationship gets serious. Some obvious money rules and signals come into [...]

Read the full article →

Finding answers, one meeting at a time.

by Helen Ramlal August 26, 2014

Asking for help is never easy but credit counsellors know how to make the experience a wonderful one.  Each person’s story is different but the framework is always the same:  share your story, go through the numbers and then find some answers.

Read the full article →