Posts Tagged ‘Budgeting’
Is a Consumer Proposal Worth It?
Many years ago, the Government created a second path to deal with debt, but many consumers still don’t know about this choice. It’s called a consumer proposal.
Read MoreCredit Rebuilding Basics, Part 5 — Fine-tuning and Monitoring
If you have already taken the appropriate action steps to rebuild your credit, you should be well on your way to a higher credit score. Now it’s time to fine-tune and build on what you have already accomplished.
Read MoreReset and Restart: Personal Bankruptcy and the Relief from the Stress of Unmanageable Debt in Canada
Personal Bankruptcy is the last choice for most individuals but it is good that this process is available because, without it, there might be no relief from the stress of unmanageable debt.
Read MoreWhat Does It Mean to File For Personal Bankruptcy in Canada?
Personal bankruptcy provides a financial fresh start when other options are not practical. Even if you don’t want to use bankruptcy to resolve your situation, you should still understand how it works and don’t ignore the option just because of the “B” word.
Read MoreBudgeting 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..
Read MoreBudgeting 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.
Read MoreBudgeting 101 – Part 3 of 5
Like monthly expenses, most annual expenses are predictable; at least to the extent that you know they are going to happen. Sometimes the amount is uncertain or the amount is discretionary (you set it – requires some internal fortitude to manage).
Read MoreBudgeting 101 – Part 2 of 5
Monthly expenses should be the most predictable of the expense categories. They happen every month. Some are fixed and some are variable. With your household income, you should be able to comfortably cover these expenses including covering seasonal variations.
Read MoreBudgeting 101 – Part 1 of 5
If you want to make a budget, you need to understand your expenses, short-term, medium-term and long-term. Monthly expenses can be fixed or variable. Annual expenses can be fixed and some variable.
Read MorePersonal Bankruptcy in 12 Steps
