Rising interest rates will harm you only if you choose to gamble with your future and live beyond your means. To be sure, rising interest rates could be a blessing in disguise to help you get on top and stay on top of household finances. The result? More prudence with lifestyle decisions! It is essential […]
I have written about becoming debt free, and staying debt free often. Each time I try to add something that might be more helpful than before. So when I see a different path that worked well for an individual, I share it excitedly. My prayer is that this current approach to becoming debt free, though […]
Why do so many people spend consistently more than they earn? They fall deep in debt, their quality of life plummets, they retain their cherished buys, but do not enjoy them fully. Sadly, they believe seductive lies merchants put forth while peddling goods. For over twenty years, I have been working with mainly churched individuals, couples, […]
Household debt is a huge problem in Canada. In 2012 when I wrote about it, I thought it was a major crisis. Surprisingly, it’s gotten progressively worse. Canadians are in a debt mire, sinking deeper, but continuing with life unscathed. That’s the essence of a recent Manulife Bank survey. What has changed from previous polls? Nothing much. The […]
Modern teaching about personal finance encourages people to concentrate on credit scores, cheap credit, and credit cards. Essentially, it assumes you will live in debt forever. It does not mention the single, critical, controllable element in personal finance—individual choices that decide spending and lead to financial results. Getting out of debt is primarily a behavioural matter; […]
How to stop living paycheck-to-paycheck will take time, sacrifice, and patience. The solution won’t be easy, and it might be counter intuitive. It will focus primarily on lifestyle choices, not on strategies to get more money. How to Stop Living Paycheck-to-Paycheck Since the apparent problem is a lack of money, logically, it would seem more money […]
Why are Canadians acquiring so much debt and ignoring lessons from the USA’s sub prime debacle? Cheap, easy money is addictive! Besides, history would suggest that when housing prices fall and interest rates rise many people will have no problem using the victim card and blaming financial institutions, businesses, the one percent … everyone, but themselves. Still, there is hope to avoid the inevitable meltdown.
You can’t wait to get your tax refund to buy an Apple Watch, right? Perfect timing, isn’t it? You’ve ordered the watch and won’t pay until June when it is shipped. And voila! your refund will be available.
What is happening on global Stock Markets? Large fluctuations in the Dow and other stock exchanges over the past months are causing great anxiety. It’s been a bumpy and costly ride for many. If you plan to invest, don’t gamble or speculate; develop clear goals and plans and be prepared to focus on the long term. Though the market has wild swings, it rises over time; be patient, apply good stewardship to handle God’s money for His glory.
If folks focussed on the ABCs of getting out of debt: attitudes, behaviors, and choices, instead of credit scores, refinancing, and other money related activities, they would find the getting out of debt procedure highly targeted, and less frustrating. Without attitude changes while in debt, you will meander as you try to fix your credit score and debt payments; merely reinforcing Einstein’s comments: Insanity is doing the same thing over and over again and expecting different results.