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Debt Problems Distracting you at Work? Access your EAP for Relief

With average Canadian consumer debt load at an all-time high of close to $29,000, debt stress is becoming a contributing factor in lost productivity and lowered morale found in workplaces across Canada. Many households are earning less after taxes and ending up with more debt problems trying to juggle home, life and work responsibilities. For those in financial trouble, constant worry and frustration can lead to feelings of sadness, depression or anger. Stress has also been repeatedly linked to poor health, fatigue, anger, depression, heart attacks. Dealing with financial pressure can affect us profoundly in many ways. Learn more about […]

Carrying Debt and Bankruptcy into Retirement More Common These Days

November celebrated Financial Literacy month in Canada, a time when various organizations and businesses come together with events geared towards increasing financial education for all Canadians. The initial strategy this year focused specifically on the financial strain and rising bankruptcy rates facing seniors in our country. To see evidence of the debt Canadian seniors are struggling with, you only have to look at your closest Walmart. More and more seniors are finding themselves having to seek part-time work after they’ve retired. This is a new trend that has not been seen in previous generations. So what has changed? Why are […]

What is Financial Literacy?

Financial Literacy is having knowledge and skills needed to make responsible financial decisions. Have you tested your financial literacy?

Understanding Your Personal Finances

Everybody wants to attain more financial stability in their lives and learn how to get out of debt when necessary. However, understanding the terminology can be daunting. The first step to achieving healthier personal finances is to recognize the components and how they all work together. While there are dozens of personal finance glossaries available online, they simply don’t go into enough depth and tend to list hundreds of different terms. Focusing on learning about the basics of your household finances can give you a great starting point for getting a hold on them. Gross Income and Net Income First […]

Have You Made Paying Down Your Debt a Priority?

More and more Canadians are answering “yes” to this question, demonstrating a desire to control mounting debt load and financial challenges. In fact, according to a CIBC poll, the goals of debt reduction, budgeting, and paying bills have taken priority over longer term financial goals like retirement planning. Having said that – saying that paying down your debt is a priority and actually making it a priority are two distinctly different things. Tackling a large amount of debt can be daunting to say the least and many don’t know their options, or where to get professional advice. Don’t succumb to […]