Debt Help Blog - Bankruptcy, Budgeting, Credit Counselling & More

Learn all sorts of great ways to manage your money better, solve your debt problems and use your credit more wisely. We also tackle a lot of credit myths and misconceptions.

Do you have questions about money management, budgeting or credit? Do you need debt advice or help with your debts? Email us your questions or chat with us online

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By Julie Jaggernath If you want to become debt free, you’ve probably read all the tips about how to get out of debt fast on your own. And you follow as many as you can. You track how you spend your money, budget and save, yet you still aren’t...

Recent Articles

Here's a great new place to find money to get out of debt: with your driving. This tip alone can save some people enough money to buy a new car every 10 years. That kind of money can definitely help you get out of debt. See if you can benefit from this tip.

Shuddering at the sight of your latest electric bill? As the weather fluctuates throughout the seasons, costs can soar during the hot summer months and the chillier winter months. However, you don’t have to put up with high utilities bills. With a few simple changes to your daily habits, you could significantly reduce your home electricity usage. Here are a few ways you can lower your electric bill and save money.

We are often asked ‘How do you pay off a credit card?’ The majority of Canadians have multiple credit cards, and for a lot of people, it seems like their balances continue to grow larger and larger. While you may faithfully make your minimum payments every month, it may seem like you’re hardly making a dent in your balances.

Credit card settlement is one form of credit card debt relief that might work for you if you’re one of thousands of Canadians who have ended up in debt because you faced a difficult time. As you look for ways to deal with your debts, you might start to wonder what happens to your credit score when you take advantage of programs to help you get out of your situation. When looking at debt relief options and solutions, keeping your credit score in mind is a good idea because you will want to work on rebuilding your credit rating once your debt problems have been resolved.

If you want to become debt free, you’ve probably read all the tips about how to get out of debt fast on your own. And you follow as many as you can. You track how you spend your money, budget and save, yet you still aren’t reaching your goals. It can be hard to take a step back and figure out what else you could or shouldn’t be doing, so think about it this way: if a good friend came to you and they were in the same position you are in right now, what advice would you give them?

When you need debt help, a debt calculator that illustrates various repayment scenarios, along with how much time each one takes and how much each one will cost, can help you determine the best way to deal with your debts. When it comes to personal finance topics in Canada, a debt ratio calculation is simply a comparison between how much money you owe and your gross (before tax) income. A debt-to-equity ratio is comparing how much you owe (your liabilities) to what you own (your assets). 

No one likes being in debt.  No matter what you do, the thought of what you owe and the feeling of the burden you carry is always there, weighing you down.

But like any challenge, there is a way out, as long as you are willing to try.  And there’s lots of help available if you need it.

A lot of people tell us that they would love to pay down their debt or completely get rid of it altogether, but they aren’t quite sure of the best way to do it or where to get started. There really isn’t any one “best way” that works perfectly for everyone. So here are a dozen proven suggestions to get you started. The more of these you can apply, the faster you will get out of debt in 2017.