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Prepare Your Child For Student Loan Debt

prepare-for-student-debt

Back to school advertising seems to start the day after the kids get off of school, but no matter when it starts, the reality is that the cost of education today can be quite high. Clothes, supplies and technology are all needed to setup the returning student for success. If that student is heading off for post-secondary schooling at college or university, the demands are going to be large – and often unexpected.  Items such as tablets and laptops that used to be “nice to haves“, are now expected, and in many cases, are required resources for students.  This piles additional…

5 Money Mistakes That Will Keep You In Debt

As a licensed insolvency trustee, I meet a lot of people in the Greater Toronto Area every day struggling with debt. While I am able to help them become debt free, I also discuss some of the common mistakes they may have made that can kept them in debt in the first place.  The idea is to learn from our past mistakes, so it’s possible to avoid getting back into debt in the future. No matter your debt level, watch for these mistakes that might be keeping you in debt: 1. Not having a budget The number one mistake people make…

6 Debt Mistakes Costing Seniors Their Retirement

retirement senior debt mistakes

Bankruptcy statistics show that the average person who files a bankruptcy or a consumer proposal is getting older. In my own practice, it is becoming more common for me to meet with people who are well past retirement, yet still dealing with debt. Often, their debt is carried over from their working years and they went into retirement with a lot of debt. On a reduced retirement income, debt that could easily be managed while working, can become an overwhelming burden in retirement. There are some common mistakes that people make as they transition between work and retirement that increase the likelihood…

School’s Out: Tips for Summer Camp Savings

School’s out: Tips for summer camp

For those of us that have children still in school, you might have noticed that your kids seem much happier these days. The reason for this is that summer vacation is right around the corner. While summer vacation brings joy and happiness to your children, it can bring dread to a lot of parents. Now that school’s out what are you going to do with your kids all summer? How are you going to pay for camp? Here a few tips to keep in mind that might help you reduce the cost of camp or child care: School’s out: Tips for…

March Break in Toronto on a Budget

Families can get frustrated when they are working their way through a financial crisis and along comes vacation time. It’s important to understand that you are not alone in this situation and that you can have fun on a budget while staying in Toronto. We live in a great city, why not take full advantage of what it has to offer. Make a Staycation Work The trick of a good staycation is to make it feel like a real vacation. Have your family turn off all their cell phones, computers, ipods or tablets and put them away somewhere. I’m suggesting…