Why You Want to Pay Your Debt, Not Get Out of Paying

Get Out of Debt

If you’re in over your head in debt it may seem logical to not pay it. If you can get debt relief, by all means you should take it, right?

Wrong.

Not paying your debt is much worse than paying it off as agreed. Even if you need a credit counselor to intervene on your behalf, get you lower rates, or a payment arrangement, as long as you pay the debt, it’s a lot better for your credit.

Here’s why.

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7 Ways to Avoid Overspending this Holiday Season

Holiday Budgeting

Tis the season to be giving, right? Christmas seems to be a time where people go well over their spending budget because they get caught up in the excitement of the holidays, and they want to give the very best. With the year we have had, it is difficult to imagine us not wanting to spoil everyone by spending a little more this Christmas season.

What if instead, you took a step back and decided to not overspend this holiday season?

Here are 7 great ways to make sure you don’t overspend.

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Understanding the Millennial Wage Gap

Millennial Wage Gap

The millennial wage gap is a real problem for those ages 25 – 40. Not only do they make 20% less than Baby Boomers at their age, but they also have fewer consistent paychecks because of the Recession of 2007 and now the pandemic. With more people freelancing, regular paychecks feel like a thing of the past for most millennials.

The largest issue this causes for millennials is a delay in homeownership, aka achieving the American Dream. With lower wages, higher debt, and less consistent paychecks, only 42 percent of millennials own a home by age 30 versus 48 percent of Gen Xers and 51 percent of Baby Boomers.

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Creditaid Names Antin Stowell as Chief Executive Officer

Creditaid Debt Counselling

WINNIPEG, Manitoba –  Creditaid, a leading credit counselling agency, today announced that Antin Stowell, CPA has been named as Chief Executive Officer.

Stowell has a broad and extensive experience in the financial industry, including time in the audit & assurance, and then insolvency with BDO. Stowell has a B. Comm Hons and obtained his CPA designation before joining Creditaid in 2020.

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How to Give Every Dollar a Purpose

Budgeting Tips

Every dollar you bring in should have a purpose or a ‘job.’ This is the premise behind the zero-based budgeting model, and it works for millions. It helps you not only pay your bills on time, but also makes sure you save money every month, something many of us plan for the end of the month only to find that our money is gone.

So how do you give every dollar a purpose? Follow these steps.

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Time to ‘Return to Normal’ for Spending

If you’re like millions of others, you spent a lot less during the pandemic. The stay-at-home orders and the spread of the virus made it easier for us to spend less and save more. Sure, there was plenty of online spending, but much less spending on food and entertainment.

Now that we’re headed back to ‘normal’ what does it mean for our spending? How do you avoid the bad spending habits you had before the pandemic and keep your finances on track?

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Did you Spend too Much this Summer?

If you lost control of your finances this summer, you aren’t alone. After the year we had in 2020, many of us felt like letting loose and living life to its fullest. After all, the pandemic showed us just how short life can be.

But as you tally up your finances and get ready for the upcoming holidays, you might find that you spent too much this summer.

Now what?

You’ve taken the first step, admitting there’s a problem, and now it’s time for the solutions.

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