Happy New Year and we hope you are having a healthy and prosperous start to the Year of the Tiger!

Did you know that one of the principal causes of stress for Canadians is financial difficulties?

While we’d never pretend to have solutions to all the problems that make Blue Monday depressing, there are steps you can take to reduce the financial stress that comes with this time of year.

The debt-to-income ratio is a common headline story; for a long time, it has been reported that the number is very high and ever increasing. So what is this ratio, why is it rising, and most importantly, what does it mean for you personally?

With a new year comes new financial resolutions, and for many people that means finally getting out of debt.

Financial scams have been around for decades. But they seem to have never been as common, insidious and invasive as they are today. It’s easy to assume you’ll never fall for a scam. But we’re all vulnerable, and we can all become victims if we don’t know what to be aware of. Here’s a list of some common scams, why they’re effective and how you can protect yourself or a family member from being a victim.

Six in 10 Ontarians are likely to pile on more consumer debt before the end of the year, including one in five who will use buy now, pay later options.

For eliminating debt all-together, two widely used options for Canadian households are Bankruptcy and Consumer Proposals. Although both filings are legislated under the Bankruptcy and Insolvency Act, also known as the BIA, and must be filed by a Licensed Insolvency Trustee, these are two separate processes.

When a debt is statute-barred, it cannot be brought to court and legally enforced because too much time has passed.