Surveys have found that while most Canadians agree that having a budget is a good thing - less than half do. Learning how to set up a budget and stick with it lets your money know that you are taking charge. 

So what is the secret to budgeting? And how do you stick to the goals you have set? Licensed Insolvency Trustee, Brenda Wood shares some tips and strategies to make a realistic budget that will work for you. Topics covered are:

• The psychological aspect of seeing your budget work
• Budgeting tools - online and on paper
• The 4 simple steps to create a sensible budget 
• Slippery slope of using credit cards as a form of income
• Using S.M.A.R.T. goal setting guidelines
• Creating future financial goals when you have surplus/savings

If you are struggling with your finances, a Licensed Insolvency Trustee should be your first call. Regulated by the federal government of Canada, you can be assured of unbiased advice in your free initial consultation. 

About Brenda Wood

Brenda started in the insolvency industry in 1995 and earned her Licensed Insolvency Trustee designation in 2006. She has a long history of volunteering with the Canadian Association of Insolvency and Restructuring Professionals (CAIRP) where she has served as a member and presented at events. Brenda received the CAIRP Outstanding Volunteer Award in 2012 in recognition of her service.

Outside work, you’ll find Brenda at the ice rink, ball field or camping at one of the beautiful Nova Scotia campgrounds. 

Additional Resources

• Allan Marshall & Associates Licensed Insolvency Trustee
• Practical Budgeting Tips to Keep Your Finances on Track in 2024
• My Paycheck Never Lasts: Tips For Budgeting To Cover Bills

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