With the holidays right around the corner, it's easy to get caught up in a spending frenzy. But if you're depending on credit to carry your spending, you might find that you're paying a lot more than you anticipated when the bills start to roll in come the New Year and interest begins to accrue.

There is money in trust to my children in the bank, will i that be taken?

November, 2015 marks the five year anniversary of Canada’s Financial Literacy Month.

The association between insolvency and distrust may exist, but in reality, it’s often far from the case. In truth, financial distress hits people from all walks of life.

Consumers can get the “blues” quickly when bills arrive in mail. With varying payments, due dates and interest rates, keeping track of it all can get very overwhelming. A budget or financial diet can help improve your financial health.

More often than not, when people find themselves in financial trouble they’re usually not sure what options are available to help them get back on track. Well-meaning friends and family may suggest a bankruptcy as a quick and easy solution. Even some insolvency firms who present themselves as having your best interests in mind, will say it only takes half an hour to come up with a plan to solve your debt problems.

A lot of people believe that personal income tax debt will never go away – that if you’re unable to pay, the debt will haunt you to the end of your days. After all, the government always gets paid right?

According to Statistics Canada, the annual inflation rate in Canada jumped 1.6% in December. Much of this increase can be attributed to the rising costs of groceries.

Many consumers wonder what creditors look at when determining whether or not to grant a loan. Of course, it is relatively common knowledge they look at our credit score to help make a decision, but the question that remains is, what other factors impact that score?

Given the current economic downturn in Alberta, it's not surprising to learn that insolvencies are at a significant upturn in the province. MNP's Donna Carson was on hand to speak with the Globe and Mail about the financial distress many in the province are facing.