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MNP Debt Blog

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Tips for handling inflation to keep a balanced budget

Inflation is the measure of the rising price of certain goods and services. Statistics Canada measures it from month to month, based on a basket of goods that represents what a typical consumer would normally purchase.

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Post-secondary education costs money. Depending on the program, sometimes a lot of it. But there are steps every student can take to prepare for these costs and minimize the future financial impacts of pursuing a higher education.

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The Bank of Canada (BoC) increased its policy interest rate by a full percentage point on July 13, 2022. It was the fourth increase to the overnight rate this year and the largest since 1998.

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What’s the difference between Bankruptcy and insolvency? Here’s what you need to know.

Being insolvent can result in declaring Bankruptcy. However, insolvency does not necessarily lead to Bankruptcy. Depending on your situation, there may be other ways of dealing with your debt.

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When Does a Full Payout Proposal Make Sense?

When you take on debt, the ideal scenario is always to pay it off in full, one way or another. Sometimes that goal becomes out of reach, which is why alternatives like bankruptcy and consumer proposals exist.

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Summer Fun List: How to Enjoy Vancouver on a Budget

Fortunately, there are plenty of things to do in the Lower Mainland for little or no money. If you need a break from the doom and gloom, check out our list for having some fun on a dime!

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What happens after I file for a Consumer Proposal?

What happens after you file the paperwork and your Consumer Proposal goes into place? And, more importantly, how can this process help you go from overwhelmed by debt to mastering the art of credit management?

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Stigma of Debt: Your Questions Answered

To answer your questions about the stigma of debt, and to learn about the options available to you, tune into our Stigma of Debt VLOG series below with MNP's Licensed Insolvency Trustees.

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British Columbians are becoming acutely aware of how interest rates and inflation impact their household budgets as both continue on their months-long upward trajectory.

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The impact of consolidating your debt

If you’re like most Canadians, then you most likely have debt from multiple sources. These could be some combination of auto loans, credit cards, student debt, lines of credit, installment plans on retail purchases via “buy now pay later”,...

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