How to Get Out of Debt & Stay Out of Debt
Debt solutions and strategies to get out of debt can vary for everyone, however, the sooner someone is able to deal with their debt, the more options they generally have available to them. Part of getting out of debt is learning new money habits, which help someone stay out of debt in the future.
How to Stay Out of Debt
Now that you are trying to work out how you are going to get out of debt, does it feel like your pay cheque doesn’t seem to go quite as far as it used to? Maybe you’re just managing to live pay cheque to pay cheque. Part of staying out of debt means planning for rising living costs. Living costs have increased significantly for most Canadians.
- Gas prices have gone up.
- Housing costs, including utilities, maintenance, taxes and insurance have risen, not to mention the price of the home itself.
- Groceries and consumer goods and services have become more expensive.
- The cost of borrowing has changed. While rates have been lower for several years, what goes down will eventually go up again.
How to Get More Help to Get Out of Debt, Stay Out of Debt, Create a Personal Budget or Find a Credit Counsellor
Eliminating what you owe to get out of debt, using credit wisely to stay out of debt and saving for the unexpected are all part of a responsible money management plan. And a good plan will reduce the possibility of a financial crisis. If you want help getting started with a budget that works for you, try our free, interactive budget calculator spreadsheet.
If an Excel spreadsheet isn’t your thing for creating a personal budget, we have our step-by-step workbook, webinars and workshops, budgeting resources or free, individual help from one of our professional Credit Counsellors.
Whatever works best for you, we’re happy to help. Our appointments are free, confidential and objective. They don’t obligate you to anything, so contact us today to ask us some questions or to make an appointment. We are here to help you!
Getting Rid of Debt
We’re happy to help you figure out your options. There are more than you might think.
Debt Management Program
You’re not alone if you’re wondering if a DMP is right for you. Here’s what it is and how it works.
Are you curious about what credit counselling is or how it works? Here’s what you need to know.