Summertime Staycation Planning & Budgeting

Staycation Budgeting

Parents can’t wait until the days of no more alarms or harping on kids about homework, but then there’s all the free time summer creates. Without schedules and structure, it can feel overwhelming and if you aren’t careful, you may forget about budgeting and spend money just to keep your kids occupied.

Rather than throwing all caution to the wind this summer, plan a staycation. This way you’ll have fun planned for your family without the expenses of a vacation and the rest of the summer won’t feel as unstructured.

Before you plan a staycation, though, learn the top budgeting techniques to make it affordable.

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How CERB May Affect your Tax Return

Millions of Canadians found themselves financially distraught amid the COVID-19 pandemic. Fortunately, the Canadian government came through in a big way with the Canadian Emergency Response Benefit.

CERB provided the financial relief consumers needed, but come tax time, you may owe more money than you thought because of the benefit. Depending on your financial situation, you may even have to pay back CERB, or a portion of it.

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Preparing for Tax Season When you Don’t get a Refund

Tax time can be exciting or overwhelming, depending on whether or not you get a refund. If you get a refund, you feel like you’re on top of the world. If you owe money, it can send your budget into a tailspin.

Relying on a refund is not the right choice. Everyone should be prepared to NOT receive a refund, by planning and budgeting throughout the year.

At Creditaid, we want our clients to be prepared for the tax season financially, rather than letting it derail their finances and cause financial destruction. It’s not as hard as it seems. You just need to budget and plan long before tax season begins.

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