Do you find yourself 1) drowning in debt 2) uncertain about what payments are actually due when? If you feel like you’re in over your head and could use some serious financial simplification, then debt consolidation might be the right option for you.

So, what is debt consolidation? In the simplest terms, it means taking out a new loan and using it to pay off all of your older debts so you’re left with one loan (into which all the previous debt has been combined).

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Shopping for Christmas presents and other holiday related items can be pretty stressful. We want to do what we can to help you minimize your anxiety this December so we’ve compiled the highlights of some of our favourite posts about saving money during the holidays.

Before The Holidays:

Plan Ahead

Start thinking about the people on your to-buy list as early as September or October. Pay attention to the offhand or throw-away comments they make and make note of the things they express interest in. The sooner you can start getting things here and there/spreading out your shopping, the easier December will be on your wallet.

Establish a Budget in Advance and Stick to It

Ask yourself, ‘How much can I reasonably spend without going into debt or putting myself into a precarious financial situation?’. Whatever that amount is, stick to it. There is rarely a gift that’s worth jeopardizing your own financial stability over.

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Are you looking to buy a car and trying your best to save up some money? We’ve got some tips to help you save for your car down payment.

Cut Down on Extras

Saving money when you’re already watching your budget is never an easy task but there are a few things you can do to help save up a reasonable amount for your car down payment. The first thing you can do is cut down on extras and indulgences. This doesn’t mean you have to deprive yourself of your morning coffee or the occasional take out. The key is to try and reduce how much you’re spending on non-essential items (only temporarily) until you’ve put aside a comfortable sum of money.

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Being an immigrant in a new country can be an intimidating experience. In addition to learning a new language (in some cases), you also have to adapt to a new culture and a new way of living. When immigrating to Canada, your previous financial history is unfortunately often also irrelevant. Here are some money management tips for a new Canadian citizen to help you settle into your life in a new country. Continue reading “Money Management for a New Canadian Citizen”

So you get take out or eat at a restaurant once or twice a week, that’s no big deal. And sure, you buy a latte every morning but it’s only $4.00. Maybe the weather is changing and you need to restock your wardrobe – $50 on a nice sweater is pretty reasonable, especially if you plan to wear it a lot. And besides, you can always put it on credit and pay it back later, right? That’s how easy it is to fall into the trap of overspending. $4.00 here and $10.00 there might not seem like much but it’s troubling how quickly things add up. Here are some tips to help you stop overspending before you end up under a mountain of debt. Continue reading “How to Stop Overspending”