2025-06-30
Financial Literacy in the Youth Education System
Lifestyle Debt
Financial literacy is the key to educating youth to manage money effectively so that they can become financial stable, build assets, and achieve personal goals.
2014-04-28
As we say goodbye to another tax season, many individuals may be left with a sense of dread. Whether it is due to a failed business, improper management of self-employed earnings or several years of not keeping up with filing returns, the amount owed to Canada Revenue Agency (CRA) can seem insurmountable.
While struggling to make payments on government debt, regular consumer debt often increases as you rely on credit for normal household expenses. If your credit situation has gone too far to qualify for a loan to pay out CRA, or the amount owing to CRA is too high to obtain a bank loan, there are alternatives.
It is a common myth that you can’t file a bankruptcy or a consumer proposal with debt owing to the government. Individuals often assume the government is exempt from the rules that govern other types of creditors, but this is not actually the case.
You can include the following government debt in either a bankruptcy or consumer proposal:
This list is not exhaustive. If you have other government debt you should check with a trusted advisor as to whether it can included in a proposal or a bankruptcy filing. You may be surprised by the answer.
2025-06-30
Lifestyle Debt
Financial literacy is the key to educating youth to manage money effectively so that they can become financial stable, build assets, and achieve personal goals.
2025-06-30
Lifestyle Debt
Our Canadian guide to affordable fun showcases top budget-friendly activities in each major hub.
2025-06-16
Lifestyle Debt
Take a good, hard look at your financial situation to decide where to focus your efforts.