The holiday season is a time for joy and celebration. Yet for many, it can also bring financial stress. In this episode, debt expert Matt Fader discusses how to avoid the common pitfalls of holiday overspending. From budgeting for predictable holiday expenses to setting realistic expectations for gift-giving, discover how you can manage the financial pressure of the season. 

• Holiday shopping norms: Dive into the commercial pressures that encourage overspending during the holidays.
• Holiday budgeting tips: Learn practical strategies for saving and seasonal preparation.
• Managing holiday expectations: Explore healthy holiday boundaries with family and friends to help limit financial strain.
• Spending impact: Find out how to prevent carrying debt into the new year.

Matt also provides insights on how to make holiday memories meaningful—without focusing on material items. Ensure that the season is about experiences, not expenses.

• Vacation and Debt: 3 Ways to Enjoy a Holiday Without Breaking the Bank
• Holiday Debt: Recover From Your Christmas Debt
• Top 8 Ways to Avoid the Christmas Shopping Hangover

This week's Debt Matters podcast features host Wayne Kay with Matt Fader from Allan Marshall & Associates. Together they discuss the key steps needed to turn financial dreams into actionable goals. The focus centres on the importance of clear objectives and how to stay motivated throughout your savings journey. 

Matt also shares insights on setting realistic financial goals and how to avoid common pitfalls that might discourage you along the way (celebrate the small wins!). Listen in for practical advice on how to make progress toward financial security.

Key Points Covered Include:

• Setting clear financial goals: Matt shows how to create clear, well-defined financial objectives and explains why this clarity helps guide saving efforts.
• Using good goal-tracking techniques: Matt shares practical tips on how to track your progress. He also suggests tools you can try, from pen and paper to more complex digital methods.
• Staying motivated: Matt teaches strategies that help you maintain focus (e.g. celebrating small milestones that boost confidence and keep a positive outlook).
• Earning financial flexibility: Matt touches upon the significance of allowing yourself to spend money so you avoid the trap of hoarding.
• Planning your emergency fund: Matt defines healthy emergency savings goals so that you have a safety net in place.

For anyone who needs help making their financial dreams a reality, this episode contains the tips and tricks you need: 

• Practical Budgeting Tips to Keep Your Finances on Track in 2024
• Bad Money Habits and How to Break Them
• The 4 Best Personal Finance Apps in Canada for Debt Management & Budgeting

In this episode of the Debt Matters podcast, Wayne Kay speaks with Licensed Insolvency Trustee Derek Chase about the personal and emotional toll included with debt. Key topics discussed include:

1. Mental health: Debt can have a lasting impact on your emotional well-being.
2. Opportunity loss: Debt can limit or change your life trajectory and overall lifestyle.
3. Financial stress management: Learn practical steps to manage the stress caused by debt.
4. Coping tools: Discover the importance of physical activity and communication to manage the emotional strain of debt.
5. Seeking advice: Reaching out to professionals or support networks for financial planning that can provide relief.
6. DIY debt relief: Find financial planning resources that ease the debt burden.
7. Staying calm: How to avoid rash decisions (like liquidating your assets) and earn peace throughout the debt process.

If financial problems are weighing you down, listen to today's Debt Matters podcast for more insights on how to manage the emotional cost of debt. 

• Chase & Associates Licensed Insolvency Trustee
• 5 Ways to Improve Your Finances in 2024
• Debt Relief BC – Real Debt Solutions To Help With Your Debt Problem

In this episode of the Debt Matters Podcast, host Wayne Kay speaks with Derek Chase from Chase & Associates Licensed Insolvency Trustee about the financial challenges single moms face after a divorce. Learn the steps single parents can take to rebuild their stability.

Key Topics Covered:

1. The financial impact of divorce: Divorce affects up to 40% of marriages and causes money struggles, especially for single moms.
2. The connection between marriage and finances: Relationship changes, including divorce, are one of the leading causes of financial insolvency.
3. Seeking advice: Professionals like accountants, investment advisors, or a Licensed Insolvency Trustee provide helpful financial assistance for single moms. They also provide debt relief for couples you divorce with debt. 
4. Initial steps for newly single parents: Learn how to take stock of your assets and liabilities and better understand your financial situation. There are even single mom grants you can take advantage of. 
5. Creating individual accounts: Open a new bank account at a different institution so you have control and protection over your finances.
6. Establishing credit: Establish your own credit and avoid liabilities tied to your former spouse.

If you are a single mom, tune in for actionable insights on how to regain financial stability post-divorce.

• Chase & Associates Licensed Insolvency Trustee
• Debt and Divorce: A Common Cause of Bankruptcy
• Debt and Dating

This episode of the Debt Matters Podcast dives into the financial struggles of millennials. Hosted by Wayne Kay and featuring debt expert Daniel Maksymchak from LCTaylor Licensed Insolvency Trustee, the conversation explores how millennials are particularly affected by debt due to factors like high student loans, credit card debt, and the burden of CERB tax debts.

1. The generational struggle: Millennials are hit harder by rising costs and stagnant wages.
2. The cost of education: Many millennials have significant student loans due to rising education costs.
3. The rise of unsecured millennial debt: Credit card reliance is a common problem due to the ease of access and the need of millennials to supplement income.
4. The pandemic impact: CERB tax debts hit millennials particularly hard, adding more financial strain.
5. Comparison: Social pressures and "keeping up with the Joneses," add to bad debt habits and insolvencies.
6. Help and support: Licensed Insolvency Trustees can provide government-backed debt help to millennials who are struggling.

Whether you are a millennial with debt or simply interested in the current economic landscape, this episode provides valuable insights into the millennial debt crisis. Listen in now: 

• LCTaylor Licensed Insolvency Trustee
• Student Loan Debt Getting You Down? You Have Options
• Are Your Credit Card Payments Harder to Make Due to the Credit Crisis

In Episode 155 of the Debt Matters podcast, Daniel Maksymchak Licensed Insolvency Trustee provides valuable strategies on how you can control your credit card debt:

Key points and topics covered:

1. Understanding credit card debt: Explore the psychological and financial impacts of credit card debt and why people fall into the debt trap.
2. Debt management strategies: Gain practical tips that lower your card debt, from debt consolidation to budgeting tips to seeking professional advice from a Licensed Insolvency Trustee.
3. Avoiding debt pitfalls: Learn the common dangers that can push you back into credit card debt, like balance transfers and low-interest offers.
4. Building Financial Health: Practice better financial health habits such as creating an emergency fund and living within their means.

If you struggle with credit card debt, Daniel's insights are essential. Listen in to take back control of your finances from high-interest credit debt: 

• LCTaylor Licensed Insolvency Trustee
• Credit Card Debt Relief
• Is Your Credit Card Debt Getting the Best of You?

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. 

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. 

• 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

Whether you are applying for a new cell phone plan or a mortgage, your potential creditors want to understand your financial history and your ability to repay debt. Your credit score and report will help them decide whether they want to do business with you. But most people don’t know a lot about their credit report and credit score. Today’s podcast looks at the difference between the two and how you can improve your score. Licensed Insolvency Trustee, Brenda Wood, also covers the following topics:

• Why you should be checking your credit report often
• The difference between a hard and soft credit hit
• What shows up on a credit report
• How scores are calculated and why they fluctuate
• What is a credit rating and where it appears
• Things you can do to improve your score

Licensed Insolvency Trustees are federally regulated and follow a strict code of ethics as well as government regulations. From budgeting to Bankruptcy, you can be assured of unbiased, non-judgemental advice.

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. 

• Allan Marshall & Associates Licensed Insolvency Trustee
• What Does Your Credit Report Say About You?
• Your Credit Score in Canada: What You Should Know

Statistics show that Canadians are falling deeper into debt. With high inflation and interest rates, most of us are under a lot of financial pressure as we combat the rising cost of living. Carrying debt can put a strain on our financial health and emotional well-being but It can be hard to find the right debt relief solution.

Licensed Insolvency Trustee, David Macdonald tackles this problem. Having a plan to cut your debt is the first step to becoming debt free. In this podcast David discusses:

• The negative connotations toward the word ‘budgeting’
• Accurately identifying your expenses and income 
• Free resources to improve your financial literacy
• Budgeting apps that can make your life easier
• The most important things NOT to do to try to lessen your debt
• When it’s time to talk to a professional

Licensed Insolvency Trustees can help you get your finances back on track. They are considered some of the best debt professionals in the country and the only ones licensed by the federal government of Canada. 

David Macdonald has been helping people and small business owners resolve their financial problems since 2003 in British Columbia, Alberta and the Maritime provinces. He has been retained as a trusted advisor and service provider by many of Canada’s banks, private lenders, First Nations and the CRA. 

David brings a practical, down-to-earth approach to his work, without judgement. In his spare time he volunteers his time to a number of charitable and non profit organizations. 

• Allan Marshall & Associates Licensed Insolvency Trustee
• Can A Debt Management Plan Get You Back On Track?
• Debt Relief Options To Help You Get Out Of Debt Today

Finding yourself with unmanageable debt doesn't usually happen overnight. It is often a slow unnoticeable process that might start with being a few hundred dollars short every month. But the sooner you take action, the more options will be available. You’ll have the ability to make decisions before your creditors do. 

If you think you are alone in this scenario, you would be mistaken. Licensed Insolvency Trustee, David Macdonald talks about taking a good look at your finances. How do you know how much debt is too much debt? David also covers:

• Debt statistics - what happened after the pandemic
• The role banks are playing in the debt crisis 
• Warning signs that let you know it’s time to seek professional help
• Using credit for day to day expenses
• Is overdraft protection really protecting you?
• Options that can help break the debt cycle
• Resources that can help with financial literacy

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. You can be assured you are receiving the best unbiased advice from these knowledgeable debt professionals.

David Macdonald has been helping people and small business owners resolve their financial problems since 2003 in British Columbia, Alberta and the Maritime provinces. He has been retained as a trusted advisor and service provider by many of Canada’s banks, private lenders, First Nations and the CRA. 

David brings a practical, down-to-earth approach to his work, without judgement. In his spare time he volunteers his time to a number of charitable and non profit organizations. 

• Allan Marshall & Associates Licensed Insolvency Trustee
• Financial Management: Warning Signs Of Financial Problems
• Solutions to Financial Problems – Free Consultation & Debt Services