Lifestyle creep is the tendency for people to increase their spending in proportion to increased income or availability of credit for material / non-material wants like consumer goods or experiences.

A Licensed Insolvency Trustee (LIT) is an insolvency professional who has been licensed by the Superintendent of Bankruptcy in Canada to help individuals and businesses who are having difficulty paying their debt, administer Consumer Proposals and Bankruptcies and manage assets held in trust.

Whether operating a small business, or large enterprise, there is a lot at stake for Canadian entrepreneurs.

Inflation is the measure of the rising price of certain goods and services. Statistics Canada measures it from month to month, based on a basket of goods that represents what a typical consumer would normally purchase.

As another tax season has come and gone, you may still have lingering questions regarding tax debt related to CERB, student loans, and collection calls. To answer your questions, and to learn about the options available to you, tune into our Tax Debt VLOG series below with MNP's Licensed Insolvency Trustees.

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.

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.

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.

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.

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