Owing Canada Revenue Agency (CRA) money can be overwhelming — especially because the government has greater powers to collect outstanding debts compared to other creditors.

Almost all Canadians face financial hurdles to some degree or another — but few financial challenges are as costly or self-perpetuating as the misuse of payday loans. Understanding their intended purpose and affiliated risks is essential.

Let’s say you’re part of a family where both you and your spouse are employed in well paid, professional jobs. Net annual household income is approximately $120,000 or approximately $10,000 per month. The family — you, your spouse, and your 2 children — live well but seem to be just scraping by.

With a wavering Canadian economy and unemployment continuing to roll through several Canadian provinces, thousands of households have found themselves struggling to make it from one financial obligation to the next. This is especially true for single income families. If you are one of thousands of families performing the financial balancing act of trying to get by on a single income, it can be difficult to make financial goals beyond your next payment....

Thanksgiving is approaching. While some prepare to celebrate, you may be less confident about your ability to afford food and other items your family needs for the festivity.

Saskatchewan is seeing a hike in the number of residents filing for insolvency. With the steady rise in inflation figures and aggressive increase in interest rates in the country, Saskatchewan households are feeling the pinch.

With the holiday season fast approaching, now is a good time for a finance refresher to avoid over-spending in December.

Currently, household debt levels, inflation, and key interest rates in Canada are among the highest in the world. Personal finances have become a hot topic as individuals and families cope with the effects of an economic downturn.