How well do you understand your finances? In commemoration of National Financial Awareness Day, we encourage you to understand your credit history and constantly monitor your credit score.

Let’s take a look at how interest rate hikes will affect borrowers, lenders, and investors — and how you can manage the impact of increased interest rates on your budget.

Filing for Bankruptcy is an option for those who are overwhelmed by debt. Bankruptcy provides you with protection from creditor actions and relief from most types of unsecured debts. But it’s not always that simple.

You’re saving, you’re budgeting for all the costs involved — and you’re nearly ready to put an offer in. But have you factored mortgage default insurance into your calculations?

We’re asked this question often, largely because of the initial similarities many people see between these two debt solutions.

People are often hesitant to file a Bankruptcy or Consumer Proposal for fear of ruining their credit. They reason they must have excellent credit because they‘ve always made their monthly minimum payments on time.

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.

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!

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.