There are numerous reasons why some people choose to take on a project themselves rather then engage another person or company. These can range from an interest in learning a new skill, to a passion for doing the work themselves, pride and shame of asking for help, or lacking the financial means to hire a professional.

Four pitfalls to avoid so your summer fun doesn’t end with the chill of a large bill you can’t afford.

I have a unique perspective on income tax debt among my peers, owing largely to my six years at the Canada Revenue Agency (CRA) prior to becoming a Licensed Insolvency Trustee (LIT). The experience has helped me understand common strategies and behaviors which tend to work against taxpayers’ long-term interests — especially in their interactions with the collections group.

There’s a persistent misconception about Bankruptcy which keeps people from taking the first step. Let’s see if we can debunk some of these here.

Children and teenagers need better financial literacy training. That is a point everyone can agree on. Consensus is lacking, however, around just who should be providing it.

Many people are concerned about their credit rating. After all, this may determine whether you qualify for a mortgage or a car loan — and possibly even whether you get the apartment you’ve applied to lease.

When applying for credit, most people believe they must accept whatever interest rate a lender is willing to give them. But that’s not always the case. Beyond shopping around for competitive rates, it never hurts to ask whether a lender is flexible on interest rates.

Everyone has different interpretations of what is reasonable when it comes to budgeting and debt. Disagreements around spending priorities, what the household can afford, and long-term financial goals is a leading source of relationship conflict and, perhaps not surprisingly the top cause of divorce in Canada.