Credit cards; those little plastic cards that might promise year end rebates, bonus points, cash coupons and other perks are a great tool and should be used whenever possible. The caveat to using the card in order to gain those incentives is to use them wisely and only as long as you know you’ll be able to pay the bill (in its entirety) when it arrives.

Most Canadians will pursue some post-secondary education, and according to Statistics Canada, almost half of those students will take on student loan debt to do it.  They might be going back to school to upgrade their training, upgrade their marks, or to entertain a new career altogether.

If you have found yourself struggling with debt and are considering bankruptcy, there is another option you can consider. It is offers a legal binding and efficient way of dealing with your debt and creditors, and it does not require you to declare bankruptcy to get relief.

If you have found yourself in a situation where you are struggling to  decide on whether you should save your money or should pay down your debt, you’re not alone.  After all, it isn’t a simple answer because there are many factors to consider when making your decision.

Everyone hits rough patches in their finances at some point. When you are in the midst of a streak of financial bad luck, it can be challenging to see a way out. While there are ways to delay paying off your debts, these are just stop-gap solutions that do nothing to solve the real root of your financial problem and may render you insolvent.

After working hard for your money, it’s natural to want to splurge on yourself. We all feel like we deserve those “special somethings”, or just want to treat ourselves to something nice from time to time. While you have every right to buy that item you’ve always had eyes on, if you find yourself swiping your credit/ debit card or spending your cash with increasing frequency, you can quickly find yourself dealing with serious money problems.

The quality of your credit score can impact your life in many different areas, some of which you may not even be aware of.

Your credit score, or credit rating, plays a role in most if not all your financial transactions, and if you have a low credit score, your financial life could undoubtedly become more complicated if you don’t address it.

If you’ve been struggling with debt management and you’ve been feeling overwhelmed with all the loans you have to repay, you should consider filing a Consumer Proposal. It helps you manage your debt by enabling you to negotiate with your unsecured creditors to make a new payment arrangement and often settle for a percentage of the total debt owed.

If you struggle when it comes to handling your financial affairs don’t feel bad… you aren’t alone. 

Financial problems are one of the most common issues people face, and in many ways society has built a very effective system that makes it easy for people to find themselves dealing with unmanageable debt levels.

1) Make sure you are actually paying a low enough interest rate to make the consolidation loan worth while. Some lenders charge higher rates than credit card companies.

2) Without a decent credit rating you may be denied a consolidation loan, or may required to pay a higher interest rate.