Top 10 tips we can use to teach our children how to best manage their finances

Fixed credit, means you borrow money to buy something and you pay back the amount you have borrowed, usually over equal monthly payments.

As debt levels continue to creep, what happens when consumers can’t keep up with minimal payments, let alone being able to actually pay that debt down?

A huge portion of residents of Saskatchewan and Manitoba are concerned about their level of debt and their ability to meet their payment obligations. Sixty-four per cent of residents now say they are $200 or less per month away from not being able to meet all of their bills or debt obligations each month.

As of May 20, 2016, Saskatchewan had the highest delinquency rate in the country. Given how significantly Saskatchewan and Alberta have been hit by the oil slump, this doesn’t necessarily come as a surprise to financial strategists and advisors throughout the country.

Canadians plan to spend 17 per cent more this Christmas than last, according to Accenture’s annual Canada Holiday Shopping Survey, an average of $873 compared to the $744 they expected to spend last year.

As the nation awaits the Bank of Canada’s next announcement on interest rates, Atlantic Canadians’ appetite for cheap credit is being highlighted by a new Ipsos survey conducted on behalf of MNP Debt.

As the nation awaits the Bank of Canada’s (BOC) next announcement on interest rates, British Columbians’ debt anxieties are being highlighted by a new Ipsos survey conducted on behalf of MNP Debt.

Most business owners who are incorporated are now aware that if the company does not pay its various sales taxes, employees’ salaries & vacations and the DAS, etc – then as the administrator of the company you are responsible for the said liabilities.

What are some of the differences between a bankrupcy and a proposal. Why would I pick one or the other?