Posts in Debt Management
2017 Surplus Income Standards

When an individual files for personal bankruptcy the trustee will calculate whether or not he will be required to make surplus income payments based on his net household income.

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Budgeting 101 – Part 5 of 5

Catastrophic expenses are those expenses that you have no reasonable expectation of knowing that they are coming and they have a material and negative impact on your finances to the extent that you cannot recover from the impact and, in fact, may not even be able to deal with the expense in the first place.

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Budgeting 101 – Part 4 of 5

Lumpy expenses, as I call them, are expenses that we know (or should know) are coming down the track and will have to be incurred but only happen once in a lifetime or only once every couple, few, 5, 10 or 15 years (or so). Lumpy expenses can cause significant stress if you have not prepared for them. 

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Financial Math - The 5% House Down-Payment

The reality is that house ownership can be the root of a myriad of problems, one of which is tied to the 5% down-payment. With mortgage insurance, you can buy a house with only a 5% down-payment.  Mortgage insurance is actually required whenever your down-payment is 20% or less of the purchase price.

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My Bank Account Is Always In Overdraft

The interest charged by banks to those carrying an overdraft can range as high as 20% so it can be a very expensive form of credit. If you find that you are carrying an overdraft balance and running out of money between pay periods this can be an early warning sign of future financial difficulties.

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