MNP Debt Blog

Every purchase we make is an attempt to solve a problem. When we’re hungry, we buy food. When our car breaks down, we look for a new one.

We’ve all been there – we swipe our credit card or sign on the dotted line to complete a long-coveted (or impulse) purchase only to realize a minute, a day or a week later that we’ve made a mistake.

Many Canadians contribute to registered retirement savings plans (RRSPs) to fund their retirement.

Logically, we know we can’t buy everlasting happiness for 12 low payments of $59.99 – or less than the cost of one coffee a day.

Everyone has financial dreams. Whether it’s getting out of debt, building a nest egg for retirement, purchasing a home or going on vacation – visualizing any number of desired results comes naturally.

I doubt that mental health was on the minds of legislators when the Bankruptcy and Insolvency Act (BIA) came into effect in 1950.

If you listen carefully, you can already hear the subtle sound of sleigh bells off in the distance – just above the cheerful voices of tellers upselling stocking stuffers at the till.

As a consumer finance professional, I field a lot of questions about money. But few do I experience more often than the age old — “Should I invest in my retirement or pay off my debt?”

People often cite unexpected expenses as one of the main reasons they began using their credit cards at the beginning of a debt cycle.

With the ever-rising cost of post-secondary education comes increased student loan debt.