Like so many of you, I follow the news and trends related to COVID-19 and the financial health of Canadians very closely. Recently, I’ve found three loosely related government reports that when combined paint a concerning picture of what might be coming our way as a country:  In December of 2019, the Office of the...Continue reading

CERB has been extended….now what? Introduce the extension and highlight the fact that millions of Canadians are still on it. There is a huge challenge ahead for the early applicants of the CERB benefit.  It was clear that the benefits would run for a maximum of 16 weeks.  The benefit program runs from March 15...Continue reading

The Pending financial Storm. The COVID-19 pandemic is devastating the Canadian economy and people’s financial stability. The rebuilding of the economy is going to take a long time.  The phased reopening means this is not a quick fix for those whose financial lives have been destroyed.  After the dust settles, the payment deferral programs are...Continue reading

This post is written by 4 Pillars’ managing partner and financial literacy expert Paul Murphy. Paul has 20+ years of experience in the banking and financial service industry.  In a sea of sharks, who do you trust? In this post, I do a comprehensive tour of all of the debt options in Canada. It’s a...Continue reading

This post is written by 4 Pillars’ managing partner and financial literacy expert Paul Murphy. Paul has 20+ years of experience in the banking and financial service industry.  Ryan, age 50, (name changed for privacy) ran a successful ad agency in a medium-sized Canadian city. Despite being a respected local business owner, his company began...Continue reading

This post is written by 4 Pillars’ managing partner and financial literacy expert Paul Murphy. Paul has 20+ years of experience in the banking and financial service industry.  I’m happy to report that my book, Beating the Debt Game, is complete!  Thank you to all the readers that have emailed me over the years, sharing...Continue reading

Debt Help: Not Everyone is an Expert                         “Beware of False Knowledge; it is more dangerous than ignorance.” George Bernard Shaw The road to hell is paved with good intentions When you live with a lot of debt, sometimes you ask for help from friends and family. A small loan to cover expenses, help...Continue reading

Your Survival plan – When your payments exceed your income. Let’s not beat around the bush, these are scary and stressful times. Remaining physically healthy is the priority — and thankfully, most of us seem to be achieving that.  However, very few of us can say our current or future financial situation is a healthy...Continue reading

For small business owners the fear is overwhelming.  The challenges faced today are unlike any other challenges small business owners have faced before.  In the past, when we’ve faced financial challenges we have been able to look back on a decision or a string of decisions and events that caused the issues and recognize what...Continue reading

Early indications of 2020 numbers (that is, before the COVID-19 crisis hit) mentioned that bankruptcy and insolvency numbers would be at an all-time high. However, since March and over the next couple of months we are likely going to see a large decline in projections. Normally a decline in bankruptcy numbers is a positive and...Continue reading