Financial Management Advice
See our easy and effective tips on how to manage your finances and get out of debt.
Lending money to a loved one: 10 tips to guide you
To lend or not to lend money to a loved one? That is the question.
5 tips to avoid financial problems and bankruptcy
Avoiding financial problems and a potential bankruptcy is possible in many cases, especially if you seek help before they become an overwhelming burden. As you might expect, financial stress...
Cosigning a loan for a loved one: what are the impacts and consequences for your credit file?
Does cosigning a loan for a loved one affect your credit file? Yes, cosigning (acting as a guarantor) for a loan can impact your borrowing capacity and potentially affect your...
How to plan for your retirement?
Discover 6 tips for managing your finances well from the age of 50.
How to help a loved one with debt problems?
Helping a loved one or a friend who is facing financial difficulties requires empathy and a lot of care. Money problems are, as you can imagine, a source of...
A Financial Survival Guide for Back-to-School Season
Myriam, a single mother of 2 children, with the eldest starting secondary school, is facing numerous expenses during this back-to-school season. With little wiggle room in her budget, she...
I am having financial difficulties. Should I withdraw my RRSPs?
Should you withdraw funds from your Registered Retirement Savings Plan (RRSP) if you are having financial difficulties? It may be quite tempting to withdraw the necessary amount to reimburse...
What recourses are available to my creditors?
You are late with your payments and wonder what recourses are available to your creditors. The first, and often the most effective, is to put a bad rating to your...
Let’s avoid our most common mistake!
Our most common mistake? Overconfidence! We rely on the fact that everything will continue to go well and that no complications or roadblocks will appear. Reality is often quite different Six...
If I am unable to pay the mortgage on my home, may I simply give it back to the Bank?
If you stop paying the mortgage on your home, you will be in default of your obligations. The financial institution will then have two choices : To sell the building...
Beware of “no credit refused” ads!
More and more in the media, we get the impression that ads put more emphasis on credit than on the goods they sell! Indeed, the key to selling more is...
Asking the right questions before buying a car
Caroline has just completed her hairdressing course and landed her first job. To make her commute easier, she decides to buy a car. What seemed like a good idea...
Not easy to choose the best way to manage your money
Every year, many people experience financial difficulties or have questions about the best way to manage their budget. To wrap up the year, here’s an overview of some real-life cases: Beatrice,...
The purchase of a house
You want to buy a house and you are wondering how much of an investment you can afford? The two most important rules to respect are: Don’t rely on the maximum...
The 4 keys to obtaining a loan
You want to get a loan and want to maximize your chances? Prepare your file meticulously. Here are the 4 main factors that a potential lender will consider before...
Can I solve my financial problems without losing my house or my car?
Yes! The first step to take when encountering financial difficulties is to prepare a budget and consider cutting certain expenses in order to create a monthly budget surplus which will allow...
Saving for Back-to-School
Soon, the kids will be back in class. In many stores, summer liquidations are already making way for school supplies. Some parents dread this time of the year as...
Should you purchase or lease a vehicle?
On the one hand, leasing allows for smaller monthly payments and the opportunity of changing vehicles more often, however, you are constantly paying. On the other hand, purchasing can also...
Answering your questions
It's not always easy to make the right decisions when it comes to personal finances. To help you navigate through, here are answers to questions sent by readers of this column.
Pay cash, pay less!
Avoid «Buy now and pay later» financing. Take advantage of the rebate that most merchants will give you when paying cash. If the merchant does not offer one, shop...
Debt ratio
You should know your level of debt (debt ratio) and you can measure it easily by clicking on monratioendettement.com. Being informed on your financial health will allow to fix problems if...
Beware of credit cards
Be advised that credit cards are the single most important cause of indebtedness for people who need our help. Limit yourself to only one card and pay off your...
Tips – Emergency fund
Plan an emergency fund for your current expenses in case of an unforeseen loss or reduction of income. This will avoid falling behind in your payments which can affect...
Tips – Avoid minimum payments
Did you know that a $ 10,000 balance at 20% interest will take up to 23 years to reimburse and will cost you a total of … $ 20,000!
Tips – Don’t reach your credit limit
Remember that just because your financial institution offers you credit does not mean you have to accept it. If you go to the maximum of what they say you...
What student budget should be planned for the start of the University Semester?
Summer is the time when we all want to have fun, and the temptations to spend money are numerous. However, the university semester is not far away, with all...
3 tips for inexpensive vacation
As summer appears to have finally arrived and the kids are finally enjoying their well-deserved school break, it is now very tempting to think of a family vacation. Unfortunately,...
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