If you know you are about to be attacked, why not beat the other side to the punch? The same philosophy works with student debt. Build up a solid defense against it by working part time and saving money throughout the next 3-4 years. This way, when that debt tries to attack you after graduation, you'll be armed with a sizable nest egg you can use to pay down the principal.
Have you ever had one of your friends ask to borrow money from you? Most of us are willing to oblige when the amount is small -- like $10 or $20 -- but what about when the amount is more significant? You are placed in an extremely difficult spot when a friend or family member is asking for $1,000, $5,000 or more.
The important thing is to write the goals down and post them somewhere that you see them everyday. Don't be embarrassed about putting them on the fridge and having your friends see them when they come over for a visit. You may not be proud of falling into debt but you should be proud of overcoming it.
Canada Day is coming up on July 1. Proud Canadians will be gathering with their friends and family to celebrate the birth of our nation all those years ago. And in true Consolidated Credit fashion, utilize these truly Canadian ways to ensure that you and your family have a financially secure future.
Grab a couple of gloves and a ball and ask your dad to play catch with you just like you did years ago. You may not have the same coordination as in the past, but it will be fun nonetheless. And you know what? It's not even the act of throwing and catching that will make this gift memorable -- it's the quality time and conversation you'll have while doing it that he'll remember.
By now, most students planning to start college or university in the fall are beginning to think seriously about what needs to be done before their classes start. So how do we help students prepare for the coming year? A good starting point would be by taking some time now to review and discuss the following questions.
Not a day goes by without someone, somewhere, asking for politicians to levy another tax on a particular group -- ''the rich'', drivers, smokers, or taxpayers in general. And with fiscal deficits crippling many provinces -- especially Ontario and Quebec -- brace yourself. You can count on lobbies of all sorts and politicians to come up with ''innovative'' ideas on how to dig deeper into your pockets to pay for their pet projects.
Do you have a budget? It is one of the most fundamental steps in making your money work for you. A personal budget is a basic estimation of the revenue and expenses over a specified period of time. Whether your goal is a down payment for a new house, saving for your child's education, a dream vacation or simply retirement, a budget is the answer to helping you reach your financial goals.
1,000,000 people in Quebec don't file their taxes every year. If each of those people owe taxes of... I don't know... let's say $624 each (an extremely low estimate given that the average amount of taxes paid by a Quebecer is around $10,000), then I'd say an investment of $600k in "FILE YOUR TAXES" billboards, print and TV ads might have helped us to avoid this huge debt hole.
Our spending habits say a lot about us and the choices we make with our money. When we become real and authentic with ourselves, we don't use our money to impress people or seek status, because we have nothing to prove. When we are authentic with our money, we are making conscious and mindful choices with it. We are very present and self-aware.
This is precisely what happened in Canada in the early 1990s. Indeed, following a steep increase in duties and taxes applicable to tobacco products by the federal government and the provinces, a vast illegal trade in cigarettes sprang up. Contraband's share in the Canadian tobacco market jumped from 1 per cent in 1987 to approximately 31 per cent by the end of 1993.