DebtMatters Podcast

Our money beliefs are something we rarely consider and almost never talk about. So where do they come from? What we believe about money is born of our past experiences and can predict our actions in the future. In today's podcast, Licensed Insolvency Trustee, Mary-Ann Marriot of Allan Marshall & Associates takes a deep dive into money beliefs. Where do these beliefs come from and how can we shift them. She also explores:

• The top 3 money beliefs that get in the way of
• Resources for learning about money
• How changing the word budget to spending plan can shift your thinking
• The advantage of having 3 bank accounts
• What happens when people take the first step to reach out for help

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. Whether you need help with your spending plan or need to file for Bankruptcy, you can be assured they will have your best interest in mind. 

Mary-Ann Marriot has been working in the insolvency field for over 25 years. She received her Chartered Insolvency & Restructuring Professional designation in 2005 and her Licensed Insolvency Trustee license in 2014.

Mary-Ann is passionate about helping people become financially literate. She feels honoured to be able to help individuals discover solutions to overwhelming situations and find peace-of-mind in their lives.

• Allan Marshall & Associates Licensed Insolvency Trustee
• Money Management : Joe's Story
• Bad Money Habits and How to Break Them

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Do you have bad financial habits? You are not alone. A recent survey found that two-thirds of Canadians confess that they have personal financial habits that they plan to work on. A financial habit is just the value standards and routine practices that people rely on to move through their day to day financial lives. It supports our ability to effectively manage money and respond quickly to financial decisions and challenges that occur.  

Licensed Insolvency Trustee, Rob Johnsom from Allan Marshall & Associates joins us today to talk about financial habits - the good and the bad. What are some of the basic financial habits that we all should have and what are the ones to be careful to avoid. Rob also discusses:

• The top 5 financial habits for effective money management
• Five financial habits to avoid
• The negative effect of bad financial habits 
• How to avoid the debt cycle and keep on top of your financial obligations
• Budget, budget, budget  

Licensed Insolvency Trustees are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada. With their knowledge and expertise you can be assured they will give you the best unbiased advice about debt relief options.  

Rob Johnson joined Allan Marshall & Associates in April, 2010. Prior to joining the practice, he was a Vice President with Ernst & Young Inc.’s Corporate Restructuring Group. Rob holds a Bachelor of Business Administration, is a Chartered Accountant, and a Chartered Insolvency and Restructuring Professional.

Rob enjoys helping people restore balance and improve their quality of life by working together with the goal of solving their financial burdens.

• Allan Marshall & Associates - Licensed Insolvency Trustee
• Bad Money Habits and How to Break Them
• Keeping Track of Your Money

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

APR is an acronym for annual percentage rate. It is a calculation that includes both the interest rate and the finance charges of a loan. In other words it is the annual cost over the life of a loan - the total cost of credit. Do you know how much the loan you just signed will end up costing you? Have you calculated the true financing costs? Most people see only the interest rate calculations.

Today’s podcast interview is with Licensed Insolvency Trustee, Rob Johnson of Allan Marshall & Associates. Rob discusses brokerage fees, loan fees and the hidden costs in financing agreements with lenders. Other topics discussed include:

• Calculating the interest rate and APR on your mortgage
• Payday loan companies interest rates and additional fees
• What affects the interest rate that lenders offer you
• Using the APR instead of the interest rate to compare the cost of loans
• When the APR is the same as the interest rate - there are no hidden charges. 

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. With their extensive knowledge of financial services you can be assured that you are getting the best qualified advice.

Rob Johnson joined Allan Marshall & Associates in April, 2010. Prior to joining the practice, he was a Vice President with Ernst & Young Inc.’s Corporate Restructuring Group. Rob holds a Bachelor of Business Administration, is a Chartered Accountant, and a Chartered Insolvency and Restructuring Professional.

Rob enjoys helping people restore balance and improve their quality of life by working together with the goal of solving their financial burdens.

• Allan Marshall & Associates - Licensed Insolvency Trustee
• Preparing for Higher Interest Rates When You Have Mortgage Debt
• Canadian Inflation Rates – How to Protect Against Hyperinflation & Avoid Debt

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Whether you are an online shopper or shop in store, you have undoubtedly been offered the option to make your purchase now and pay for it later. Known as the Buy Now, Pay Later, this type of instant, no-cost financing has become increasingly popular. But is there a catch? How is it that these companies can offer this kind of service and how can they make money? Daniel Maksymchak, with LCTaylor, Licensed Insolvency Trustees in Winnipeg, takes a look at how to make delayed payments work for you. He also discusses:

• What happens when you aren’t able to make payments when they become due
• Hidden costs in the terms and conditions to be aware of
• Under what circumstances would it be to your advantage to use this service
• Alternatives to the Buy Now, Pay Later financing
• The necessity of budgeting

Licensed Insolvency Trustees are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada. They can help you take back control of your finances by eliminating your unmanageable debt. 

Daniel has worked in the bankruptcy and insolvency field since 2010. His career began in accounting, receiving his Chartered Accountant designation in 2009. He attained his Licensed Insolvency Trustee accreditation in 2014. 

Daniel is a member of the Canadian Association of Insolvency and Restructuring Professional (CAIRP) and has volunteered his time with numerous causes in the community. 

• LCTaylor Licensed Insolvency Trustee
• Budget Planning Basics: 7 Reasons Why Budgeting Is a Must
• LCTaylor Debt Services

Inflation is defined as a decline in the purchasing power of currency over time. The inflation rate in Canada is driving up the cost of living which means your money is losing some of its value. Unless you have savings to rely upon or are someone who can demand better compensation during an inflationary period, inflation will affect your standard of living. 

Today's podcast features Licensed Insolvency Trustee, Daniel Maksymchak of LCTaylor discussing what impact rising inflation means to Canadians. He specifically looks at how it affects those in debt and how to make the best of where you are. Questions answered include:

• How will rising interest rates affect my mortgage and unsecured debt?
• Are there advantages to inflation increasing?
• What advice would you give to people who don’t have savings and are in debt?
• What are second tier lenders and how to avoid them.
• Why should your first point of contact for debt relief be a Licensed Insolvency Trustee?

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. They have access to all the debt relief options and can assist you with everything from budgeting to Bankruptcy.

Daniel has worked in the bankruptcy and insolvency field since 2010. His career began in accounting, receiving his Chartered Accountant designation in 2009. He attained his Licensed Insolvency Trustee accreditation in 2014. 

Daniel is a member of the Canadian Association of Insolvency and Restructuring Professional (CAIRP) and has volunteered his time with numerous causes in the community. 

• LCTaylor Licensed Insolvency Trustee
• How to Avoid Financial Difficulty When Good Intentions Leave You Broke
• Anyone Can Go Bankrupt

We’ve all heard the Chinese proverb reminding us that ‘the best time to plant a tree was 20 years ago and the second best time is now’. It also reminds us that the best time to start saving was when we were young. But were we given that advice and if so - did we take it? Today's podcast features Derek Chase, Licensed Insolvency Trustee, on Vancouver Island. We asked Derek what advice he would have given to his younger self. He also discusses:

• How to educate yourself and gain an understanding of terminology
• Teaching our children early by letting them manage their cash flow
• Who the best people are to ask for advice
• Understanding the need to plan for the long term
• Being aware of asset management fees 

If you didn’t receive the advice you needed and find yourself deep in debt, it may be time to speak with a Licensed Insolvency Trustee. They are the government regulated professionals that have access to all debt management options, including Consumer Proposals and Bankruptcy.

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted. 

• Derek L Chase & Associates Ltd. Licensed Insolvency Trustee
• Way to Save Money and Reach Your Financial Goals
• Get Financial Assistance or Debt Forgiveness Through a Debt Relief Program

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Bank of Canada says that food price increases will likely outpace inflation. This is mainly due to supply disruptions and higher commodity and energy prices. Canadians may have to change their habits and make different choices that are more affordable. Today's podcast looks at ways to prepare and make adjustments for food price increases. Licensed Insolvency Trustee, Derek Chase discusses creative ways to grocery shop within a budget. Other topics covered are:

• Online apps for food that is nearing their expiry dates
• Importance of knowing how much you are spending on food each month
• Grocery store loyalty credit cards offering points 
• When to shop to take advantage of markdowns
• Seeking help when your debt load is increasing paying basic expenses

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. Speaking with an LIT ensures that you are getting the best qualified advice and support creating a workable budget.

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted.   

• Derek L Chase & Associates Ltd. Licensed Insolvency Trustee
• Grocery Shopping Tips: Eat Your Way to Healthy Finances
• Saving Money During Pandemic: How to Improve Your Quarantine Finances

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The COVID-19 pandemic has been a factor in the rise of same day money services. A recent survey found that 80% of those who used payday loans did so to pay for everyday living expenses like rent and groceries. With annual interest rates ranging from 25% - 400% this is a worrisome trend. But is the cost worth the benefit? In this podcast Derek Chase, Licensed Insolvency Trustee, explains the true cost of these same day money services. He also looks at:

• The negative momentum and dangers of starting these loans
• Ease of procuring loans online
• Cost of administration fees, interest rates, and the length of the loan
• Understanding cash flow in order to avoid needing same day money
• Alternative sources for financial assistance

Licensed Insolvency Trustees can help you take control of your finances. They are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada. 

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted.  

• Derek L Chase & Associates Ltd. Licensed Insolvency Trustee
• Payday Loans – They’re a Trap!
• 5 Debt Warning Signs & How to Deal With Them

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Money management isn’t always easy and teaching your kids can be just as difficult. We sometimes forget that our kids do have money from their allowance or from birthdays and they will need to make choices about what to do with that money. This podcast is all about teaching your children money management skills. It’s not a subject many of us are comfortable with. Mark Marshall, Licensed Insolvency Trustee with Allan Marshall & Associates helps us recognize teachable moments to build in money lessons appropriate for their age.

Mark also discusses:

• The best way to get started and at what age
• Tips to get them started saving
• Letting your kids make poor spending decisions early
• The difference between needs / wants and how to avoid impulse buying
• Signs that your kids are making good or poor money management choices

Licensed Insolvency Trustees can help you take control of your debt. They are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada. 

Mark Marshall has been working in the insolvency field for 20 years. He received his Licensed Insolvency Trustee accreditation in 2012 and has also been an active board member with Music NB. He endeavors to give each client he meets advice on all of their available options so they can proceed with the knowledge they need to make an informed decision.

• Allan Marshall & Associates Licensed Insolvency Trustee
• How to Teach Kids Money Management at Home
• Living Within Your Means

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

According to Statistics Canada, the average graduate finishes school with more than $26,000 in student debt. According to the Canadian Student Loan Program it takes an average of 10 years to pay the loans off in full. But what happens when you are unable to repay your student loans? Mark Marshall, Licensed Insolvency Trustee with Allan Marshall & Associates, talks about all aspects of student loans. He answers the questions:

• When can I include my student loans in a Bankruptcy or a Proposal?
• Why do I need to confirm my end of study date?
• Will I qualify for a student loan if I am or have been bankrupt?
• How do I keep my student loan in good standing?
• What role does credit counselling play after I have been discharged?

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. With their extensive knowledge of financial services you can be assured that you are getting the best qualified advice.

Mark Marshall has been working in the insolvency field for 20 years. He received his Licensed Insolvency Trustee accreditation in 2012 and has also been an active board member with Music NB. He endeavors to give each client he meets advice on all of their available options so they can proceed with the knowledge they need to make an informed decision.

• Allan Marshall & Associates Licensed Insolvency Trustee
• Student Loans, Student Debt & Bankruptcy
• The Source of Student Debt: Tuition

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.