MNP 3 Minute Debt Break

Today, many Canadian households are struggling to keep up financially. To compensate, many have relied on credit to carry them through financial difficulties. While credit can be a valuable tool, credit reliance can quickly lead to a dangerous cycle of debt and stacking interest.

Les fraudes financières existent depuis des décennies. Mais elles ne semblent jamais avoir été aussi courantes, insidieuses et envahissantes qu’ils le sont aujourd’. Il serait tentant de croire que vous ne tomberez jamais dans une fraude. Mais nous sommes tous vulnérables et nous pouvons tous devenir des victimes si nous ne savons pas à quoi nous attendre.

Canadians are becoming acutely aware of how interest rates and the cost of necessities impact their household budgets, as both measures continue on an upward trajectory. Increasing a staggering seven points since last quarter, six in 10 Canadians say they’re already feeling the effects of interest rate increases, according to the latest MNP Consumer Debt Index which is conducted quarterly by Ipsos on behalf of MNP Limited.

Post-secondary education costs money. Depending on the program, sometimes a lot of it. But there are steps every student can take to prepare for these costs and minimize the future financial impacts of pursuing a higher education.

Les études postsecondaires coûtent de l'argent. Selon le programme, parfois beaucoup d’argent. Mais chaque étudiant peut prendre des mesures pour se préparer à ces coûts et minimiser les impacts financiers futurs de la poursuite d'études supérieures.

Every family is different. But usually the one constant in every family is “they’re busy”! Between work, school, extra-curricular activities, making sure everyone is fed and clothed and still trying find the time to sleep… the family budget can get neglected. Without a plan to get or stay out of debt, many households may inadvertently be setting themselves up for failure. The good news is that budgeting doesn't have to be complicated.

The average person spends most of their life chasing financial stability. We may not feel like we’re getting ahead, but for many of us that’s ok; as long as we’re not falling behind.

La personne moyenne passe la majeure partie de sa vie à rechercher la stabilité financière. Nous n'avons peut-être pas l'impression d'avancer, mais pour beaucoup d'entre nous, ce n’est pas grave, tant que nous ne prenons pas de .

Credit cards can be a valuable tool for personal finance. If you can control the spending, and pay off the balances regularly there are no issues. But it’s easy for credit card spending to get out of control. Before you start cutting that plastic in half, consider these steps in credit card spending: analyze, monetize, prioritize and stabilize.

The bills are piling up. You’re constantly getting calls from creditors. You borrow money from friends and family but it doesn’t seem to be helping. You know that you need to do something, but… what exactly do you do?