November is Financial Literacy Month

By November 15, 2016Blog

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In the modern age, we have more tools to manage our money at our disposal than ever before. However, there is only so much one can do with financial information without the tools to understand what it means. The good news is that, when compared to peers around the globe, Canadians are a financially savvy bunch.

The bad news is that bankruptcy filings in Canada are on the rise, and that’s something that we should all be concerned about. Fortunately, there are many ways for those who want to learn more about managing money to get the help they need.

November is Financial Literacy Month, and in that spirit, we’d like to offer three simple tips to help you improve your relationship with money and debt.

Start With the Facts

Start by making a list of all of your income, debts and monthly expenses. Getting out of debt will require an accurate picture of your financial position. If you’re having trouble figuring out where the money goes, there are a variety of apps and online tools you can use to help you track your spending to get a handle on it.

Small Changes Make Big Differences

In most cases, getting out of debt won’t mean a total overhaul of your finances all at once. It will start small, like with paying just a few dollars more than the minimum on your credit cards each month, or bringing lunch to work a few days a week to free up more money to pay off your debts. Small changes are easier to implement, and over the course of months or years, they can make a mean a big difference for your financial future.

Remember: You Don’t Have to do it Alone

Many people experience financial difficulties. By enlisting the services of professionals to develop a plan to get out of debt, you’re taking control of your future. With credit counselling services, consumer proposals and, if necessary, assistance with completing the process of filing for bankruptcy, you can get the help you need to stop calls from creditors and plan for a brighter tomorrow.

Whether you need the expert services of a licenced insolvency trustee, or you just need some help with learning how to get out of debt, we can help. Call or visit our offices in Kelowna or Kamloops to get started on a plan to improve your relationship with money.