Good question. Certainly, not everyone has, but spiraling levels of consumer debt have risen to record levels, indicating that Canadians are spending more money that they don’t have at an alarming rate.
Statistics Canada has released figures for the third quarter of 2014 indicating that Canadian household total credit-market debt, which consists of mortgages, consumer credit (mostly credit cards) and non-mortgage loans rose to 162.6 percent of disposable income. The Bank of Canada has stated that “high consumer debt loads and imbalances in the housing market” are a concern.
In short, people are using credit more today than ever before.
Two generations ago, very few people used credit. Society was based on a “cash on the barrelhead” philosophy that encouraged living within one’s means. This standpoint has been slowly eroded by rising home ownership costs (it is virtually impossible to purchase a home without a mortgage, and the length of time that the average family spends paying for their home gets steadily longer), the availability of consumer credit, and the replacement of “hard” currency with cheques, credit cards, and digital wallets.
It’s easier to access credit today than ever before, and advertising inundates us with constant messages promoting consumption of high-value items, usually on payments. It’s no wonder that people wind up in trouble with credit cards, loans, and lines of credit.
Creditaid exists to help people who have used credit improperly, or have been faced with unforeseen circumstances, and are having trouble dealing with their debt. We offer a free initial credit counselling review with professionals who can advise you on how to best manage and repay your debts. We’ll work with you in a judgment-free manner to develop solutions for your specific situation. We have a number of tools available to help you deal with your creditors, including debt consolidation and debt management solutions. If you’re feeling the pressure of collections, call Creditaid for help today.
When a relationship ends, the items that held special meaning before can become bearers of painful reminders. Engagement and wedding rings, wedding dresses and marriage certificates are items that many people wonder about after the end of their relationship. What can you do with them?
Engagement rings and wedding rings often come with a big price tag and if the items lose their emotional value, there is the option to sell them. Jewellers sometimes will buy their pieces back but at a significant discount. On average, they will buy them back at only 35% of original value.
Many people in similar situations have opted to sell their rings online through websites such as “I Do… Now I Don’t”. The founder, Joshua Opperman, was left with a ring after his engagement ended prematurely which prompted him to found the jewellery auction site to help others in similar situations part with their rings. He has since been featured on Rachael Ray, CNN, and Whoopi Goldberg.
One important factor when selling your high valued item online is to minimize risk of scam. On “I Do…Now I Don’t”, sellers can list their rings for free. Once the item is purchased, the money is held in escrow by the website. The seller will send the ring in for authentication by GIA-trained gemologist. Once the ring has been authenticated, the ring will be sent to the buyer via UPS with insurance included and a bank cheque will be mailed out to the seller.
Sellers will typically receive 40 – 60% of the retail price for their item, minus a 15% commission fee. If you are making payments on the ring, this return can help you substantially in reducing your debt.
Parting with your engagement or wedding ring might give you the emotional detachment you need to help you move forward past the relationship and onto something better! Visit https://www.idonowidont.com/ for more information.
New Year resolutions are hard to keep – in fact; did you know most are abandoned within the first two weeks of the year? The same is also true of first-time budgets; which is why we at Creditaid are offering a FREE 5-Day Back to Basics Budget Bootcamp.
Bootcamps are known to be hard work. In order to become a champ, you will have to challenge yourself and push yourself beyond your limits. Once you do though, you will see and feel the results of your hard work – which is why we like the concept of a Budget Bootcamp so much!
Over the span of one week, we will help you create a budget that will work for you and your lifestyle and provide you with all the tools and advice you need to get you on the right track and keep you there. The process is not complicated; you just need to put in the effort.
We understand that budgeting isn’t easy, so we will show you how to work with the money that you have while remaining realistic. There are no quick fixes or shortcuts, just sensible, effective ways to manage your money. The course lasts five days, and by signing up you will receive an email on each of those days which will take you through simple steps to set up and maintain your daily, weekly and monthly budgets.
The sign up process is easy; there is just one form to fill in and then we’ll send you the first part of the series. We do not ask for any personal information other than your name and email address so that we can send you your 5-Day Back to Basics Budget Bootcamp emails. Once you have received part one, you can begin to get your spending under control. This is your opportunity to have a new year with a new start so sign up now!
Do you toss and turn at night, worry every time the phone rings or hesitate to check the mail for fear of seeing more bills? It’s time you start living your life again. Call us today.
Are you afraid to check the mail for fear of seeing your credit card bills? Especially during this time of the year, we understand how credit card balances can be overwhelming. Give us a call and we will help you, every step of the way to becoming debt free.
The holiday season is upon us – don’t let the thought of debt affect this special time of the year.
Do you wish you had access to a vehicle anytime you wanted but didn’t have to pay the monthly loan payment, insurance payment, gas and repairs? Imagine being able to drive a car anytime you needed one but also saving thousands a year on car costs? Peg City Car Co-op is here for you. This organization has 9 cars located in and around the downtown area waiting for you to pick and use anytime you need one. You pay a low hourly (plus kilometer) rate with no further charges- not even gas! They have 2 programs available for you to choose from depending on your expected car usage. One of these programs is accessible without a credit card. It’s perfect for anyone in a credit counseling program or someone without access to credit.
To learn more call 204-793-3912 or visit their website at www.pegcitycarcoop.ca.