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How to Relieve Money Stress

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When we consider all of the stressors in our lives, financial concerns are often near the top.  Money worries can cost you sleep, affect your self-perception and confidence, and often result in denial and a kind of mental paralysis that can cause the problems to worsen, while not making you feel better at all.  And then there’s the issue of shame – we all know that we’re supposed to live within our means, avoid debt, and constantly strive to “put money away” for a rainy day or for retirement.  When we feel like we’re not achieving the goals that we’ve set for ourselves, we get discouraged and stressed.  

Here are a few things you can do to relieve money stress.

Acknowledge the Problem

Financial problems don’t just go away.  Ignoring a creditor’s phone calls isn’t effective in the long term, and only leads to more stress and bigger problems.  Resolve to face the problems right away, and make an action plan.

Take Action

Do something about your situation right away.  No matter how bad the problem is, there are steps you can take to prevent it from getting worse.  Find out what they are, and take them as soon as possible. If you don’t know what to do, consider seeking help. (Read “Seek Help” below).

Don’t Let Money Problems Shame You

Many people experience, at one time or another, financial difficulties.  Money troubles don’t mean you’re a failure and are far more common than you think.  Don’t compare your situation to other people’s.  Your neighbours might appear to be prosperous, but might be drowning in debt you can’t imagine.  Make financial decisions that fit your life.

Seek Help

Financial difficulties can be complex and confusing.  Luckily, you don’t have to go it alone.  Creditaid has been helping Manitobans manage and overcome their debt for more than a quarter century.  We provide credit counselling, budgeting, and other solutions that can help you restore your finances and rebuild your credit.  Take the first step toward a secure, debt-free future.  Contact Creditaid today for a free, no-obligation consultation.

How to Set Up an Emergency Fund for 2019

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Another year has come and gone. For some, it’s been magical, and for others, a little less so. The new year is a time for retrospection, to look back at what’s happened, evaluate where we are, and make preparations for the coming year.

Let us offer you one piece of advice – a few simple steps can give you a whole lot of peace of mind when it comes to securing your financial future. Make 2019 the year that you prepare for unforeseen financial challenges with an emergency fund. The security you’ll feel when you know you’ve protected yourself from an urgent home or car repair, a “blip” in your employment, or any one of a million other unforeseen circumstances is one of the best goals to attain.

How Much is Enough?
The amount of money you need in your emergency fund is really up to you. We’d say, the more the better, but in the end you’ll have to make your own decisions. How much will get you over a rough patch – a month’s salary? Six month’s salary? A thousand dollars? Ten thousand dollars? It’s unpleasant to imagine all of the bad things that can happen to your finances, but it’s important to determine a worst-case scenario to help you set a savings goal.

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Use Creditaid’s Holiday Gift Giving Planner to help make this Holiday Season Great!

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We all love the holidays. It’s a time visit with loved ones that we don’t get to see often enough.  We share special meals and spirits and enjoy the fun around the annual gift exchange with our friends and family.

It’s easy to get carried away at the moment, believing the January bills to be far away. In the 26+ years, we’ve spent helping Manitoba families manage their debts, we at Creditaid have often seen the negative impact that too much indulgence at Christmas / holiday season can have on our clients’ finances in the new year.

Like many areas of your financial affairs, the key to successful and safe holiday gift giving is adequate planning. Ideally, we are all saving a bit of money throughout the year to meet our December expenses. And before we set foot in the mall (or log in to our favorite online retailer’s site) we need to have a clearly established plan. We need to know how much money we’re going to spend on gifts for the Holidays, and how many gifts we want to purchase, and for whom.

That’s why we’ve developed the Holiday Gift Giving Planner. It’s a tool designed to help you plan gifts for all the special people in your life, while adhering to a budget that you design ahead of time.

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Increasing Mortgage Rates Can Hurt Less from CHVN

The following article written by Libby Giesbrecht originally published on CHVN95.1FM Radio on August 10, 2018. Creditaid’s Brian Denysuik, discusses the tough choices homeowners make later in life due to increasing mortgage rate costs.

To read complete article, click here – CHVN95.1FM 0 Increasing Mortgage Rates Can Hurt Less

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Calculating Multiple Streams of Income

The following article originally appeared in the Manitoba Teachers’ Society Balance Wellness Magazine.

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In today’s world, there are many of us that have what I will call multiple streams of income.  This can come from different sources, such as two or three part-time jobs versus one full-time job.  It can include a second job throughout the summer months, a side business or a combination of receiving a pension and working part-time.
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Provincial Budget versus Household Budget

The Province of Manitoba just released Budget 2018. Listen to 680 CJOB, Winnipeg’s news talk radio, Hal Anderson and Creditaid’s, Brian Denysuik, discuss how the provincial budget can be managed like a family household budget.

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