COVID-19 has amplified financial uncertainty for millions of Canadians. Households have faced loss of income through several rounds of lockdowns and a topsy turvy economy, and some have experienced rising debt loads as a result.

There are benefits to paying off your Consumer Proposal early. But do they exceed the potential pitfalls?

Thanks to artificial intelligence (AI) and tools like ChatGPT, getting financial guidance is now easier and more personalized than ever before.

Debt doesn’t just show up in the bank account. It can also create a deficit in people’s hearts, minds, and everyday lives.

It’s easier than ever to spend more than we can afford. We pay for most purchases with a debit or credit card — or, increasingly, with the wave of a smartphone or swipe of a finger.

“The more you make the more you spend” is a familiar phrase that describes lifestyle inflation. Lifestyle inflation happens when your expenses increase along with the increase to your income. It can become perpetual; every time your salary increases, your spending increases accordingly.