How Debt May Affect Your Health Anyone who has ever been in debt knows that the situation affects more than just your bank account. The relationship between debt and health has been studied for decades and it appears that there has always been evidence that debt affects not only your physical but also your … Continue reading How Debt May Affect Your Health
4 Reasons to Avoid Bankruptcy I am sure you have heard before that bankruptcy is a bad thing. But do you know why it should be avoided at all costs? Today we are going to take a look at 4 reasons why you should avoid bankruptcy if at all possible. 1. The emotional baggage and … Continue reading 4 Reasons to Avoid Bankruptcy
What is the true cost of servicing debt? Consider this, our standard file: $50,000 of credit card debt. If the person would like to pay the $50,000 off in 5 years, they would have to pay an estimated $1,541.67 per month for 60 months. Therefore, the total payback = $92,500 In order to pay back … Continue reading What is the true cost of servicing debt?
There are reasons why RSP’s, insurance policies, equity in the home, among other items are exempt from being liquidated in the event of an insolvency. In an effort to keep this blog post at a reasonable length, I won’t go into detail about our highly leveraged financial system. In saying that, suffice it to say, … Continue reading Stop cashing out investments to solve debt!
How do your friends manage their money? Maybe you don’t know the answer to that question. A lot of people don’t want to talk about money concepts or spending habits with friends. I am not saying that we should be getting professional advice from unqualified people. However, gone are the days of community and true … Continue reading How do your friends manage their money?
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