Being the parent of a teenager who wants everything all the time can be quite concerning for two reasons: One is the immediate drain on your own finances as you try to keep pace with their current desires. Second is the fear they may be in for a rude awakening as they transition to living on their own in the years ahead.

When dealing with debt, the consumer is often faced with unfamiliar terms, such as “secured debt,” and “unsecured debt.” Debt is debt, right? Well, not quite!

As pandemic-related government aid and loan deferral programs begin to wind down, the latest MNP Consumer Debt Index finds the number of Canadians hovering close to financial insolvency has reached a five-year high.

The role and functions of a Licensed Insolvency Trustee are understandably confusing for those who are new to the insolvency process. Let’s take a look at some of their most important responsibilities.

Nobody sets out to have their lives turned upside down, get into debt or deal with the unimaginable stress it causes. But that doesn’t mean most of these situations aren’t preventable. Here are four critical mental shifts which can help turn possible hopeless situations into success stories.

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.