It’s a common debate consumers face – do you pay down your debt or save money? You want to get rid of your debt, but you also need money saved for emergencies, so what do you do?
What if you could have the best of both worlds?
If you pay down your debt but continue ‘paying yourself’ the interest, you’ll get out of debt AND save money.
Here’s how!
Continue reading “Pay Down your Debt and Put the Interest Money Toward Savings”
If you’re trying to improve your credit, you need to pay off your debts. High debts can hurt your credit score tremendously, especially if you have a lot of revolving debt (credit cards).
To improve your credit score, focus first on credit card debt and then installment debt, which includes your mortgage, car payments, student loans, and personal loans. Before you jump in to pay off your credit card debt, though, you’ll need a strategy.
Continue reading “Which Debts Should I Pay Off First to Improve My Credit?”
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.
Continue reading “Why You Want to Pay Your Debt, Not Get Out of Paying”
Today our CEO was invited to speak with Hal from CJOB on how to handle the post holiday finances.
Take time to listen for tips on what to do when the bills start arriving and where you can turn for help.
It’s time to take control of your debt. Speak to one of our credit counselors today.
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.
Continue reading “7 Ways to Avoid Overspending this Holiday Season”
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.
Continue reading “Understanding the Millennial Wage Gap”
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.
Continue reading “Creditaid Names Antin Stowell as Chief Executive Officer”
You’ve likely heard how COVID-19 affected millions of household incomes, but what about debt levels? Household debt has reached extraordinary levels, but not for everyone. Its largest stronghold is on the middle-income earners – the households that lost their jobs during the pandemic and who didn’t benefit enough from CERB payments.
Here’s what happened.
Continue reading “How COVID-19 Affected Household Debt”
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.
Continue reading “How to Give Every Dollar a Purpose”
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?
Continue reading “Time to ‘Return to Normal’ for Spending”