Whether you’re trying to get out of debt or afford your dream vacation, a little money advice never hurts. If this is the year you’ve decided to get your finances in order, consider these helpful tips.
Many of us are already working with a budget, but when was the last time you took a good look at yours? Spend some time re-evaluating planned income and expenses to see if they still align with your priorities. While these can be different for everyone, reviewing what you spend on your “wants” and “needs” can help you prioritize your spending to stay on budget.
Plan to pay down your debt as much as possible, starting with the highest interest rate first so you pay less money towards interest. You can also simplify your debt payments by combining all your debts and transferring them to a single creditor – in most cases, your bank. Instead of paying off multiple creditors, you will then only have to pay off one. But make sure you don’t continue to rack up new debt.
This small action can go a long way. Good examples of ways you can save money include taking public transit instead of driving your car and paying for parking, making your coffee at home instead of going to the coffee shop or planning a cozy date night at home where you cook a new recipe together instead of going out to a fancy restaurant. Automatic transfers to a savings account on pay day can help too.
While many brands now offer these types of plans to online shoppers, they can be an expensive way to borrow money. You need to make your payments on time to avoid high interest rates. These fees may lead to overborrowing and put your credit at risk. If you do sign up for one of these plans, pay your balance in full by the due date.
It may be difficult to face debt problems, but the sooner you do, the better. When seeking debt help, consider talking to a Licensed Insolvency Trustee. They can assess your financial situation and discuss all the options available to help create a plan that’s best for you.
Short Answer Legally you must owe at least $1,000.00 meets the qualification for a consumer proposal but practically, we would never let anyone file a
Short Answer You can apply for credit while in a consumer proposal but probably won’t be approved unless it is secured by a prepaid balance.