Managing debt repayment when you’re struggling financially is extremely stressful on its own, but when your creditors start to take a more aggressive approach and enlist the services of a collection agency, that stress can intensify quickly.

The bills are piling up. You’re constantly getting calls from creditors. You borrow money from friends and family but it doesn’t seem to be helping. You know that you need to do something, but … what exactly do you do? You don’t want to file a bankruptcy and wonder if there are other options. There are. Actually there are several alternative options.

Creating strong budget habits early in adult life is essential to building a pathway to financial independence. To start, you will need to learn to create a budget.

Thousands of individuals across Canada are coping with financial stress, and addressing their increasing debt can be an overwhelming process. Personal debt has left them juggling bills, payments, and priorities without a clear path towards financial freedom.

In less time than it takes to scroll through one of the streaming services to find your next series or movie to watch, you can focus on your debt and have a plan to keep it under control.

Credit cards can be a valuable tool for personal finance. If you can control the spending, and pay off the balances regularly there are no issues. But it’s easy for credit card spending to get out of control. Before you start cutting that plastic in half, consider these steps in credit card spending: analyze, monetize, prioritize and stabilize.

Between generations and over the years, our behaviours, attitudes and approach to finances have changed dramatically.

Compromised mental health is a concern for many reasons — including its negative economic impacts. At the same time, financial stress can certainly adversely affect mental health.

It’s never too early to start saving for Christmas spending. The sooner you include this in your monthly budget, the easier it will be to manage those upcoming expenses and start the following year off without any additional debt.

The first step in understanding your financial health is to understand how the rise of interest rates will affect your unsecured debts. The most common types of unsecured debts are lines of credit and credit cards.