When you become a senior, your relationship with money changes in a drastic way. It’s no longer something you can expect to keep coming in every two weeks through employment income. If you are still working, it’s likely that one of your financial goals is to eventually stop depending on that salary.
Rebuilding your credit is an important step towards financial recovery and can be a lot easier than you think. Secured credit cards are a great option for people who have no credit history or who need to repair their existing credit.
When you owe money to the bank, whether it’s through a line of credit or a credit card, the bank can take money right out of your account if you fail to keep up with payments. This is known as the right of offset, and if it happens to you, it can be a serious wake-up call that forces you to deal with financial difficulties.
Many people in Ontario have way too much credit card debt and as a result, find it difficult to make even minimum payments on their cards. Managing credit card debt with a consolidation loan is only one of the options available to consumers and may not be your best option.
This article & others in the series will help you take important steps towards successfully managing your financial future & away from overwhelming debt.
This is Step 2 of Budget Basics – Once you have completed recording and totaling your monthly expenses and income in Step 1, you are ready to start identifying your financial goals.
Living on a budget is a great way to plan & achieve your financial goals while continuing to enjoy daily life. Learn to set up & fill in your budget worksheet.
Cultivating the habit of living on a budget requires a focus on your financial goals, consistency in spending & accepting the fact that you can do this!
Credit: Tima Miroshnichenko via Pexels You’ve tried just about everything to pay down your debts. You started a personal budget to help you track your
Credit: Daniel Reche via Pexels You’re in serious debt, and you’re planning to file a consumer proposal as a solution. A consumer proposal is a
