90 Days to Financial Stability

Is this how you see your debt? A large monster always growing? There are 10 common reasons this happens and you are not to blame for all of them. 1. Interest rates. You may have a lower interest rate on some of your debt but this seems to be pretty average for interest rate on a credit card. 2. Cash advances on credit cards. Isn't it just so easy to go to an ATM, whip out your credit card and get some cash for spending? Many credit cards have a higher interest rate for cash advances.  3. Impulse spending. Walk into a mall and everything is so shiny, so new and looks appealing. Before you even get a chance to really think about, you are spending the money that you probably don't have to spend. The item may have been on sale but was it really such a great deal? 4. Closely associated with #3 is #4, retail therapy. Are you the type of person who, when they are feeling down or out of sorts, buys things? This can REALLY add to your debt. 5. Sha...

Are you deeply in debt? Is that debt constantly growing and you can't seem to stop it? Are you ashamed that you have gotten yourself into this position? You are not alone. 73% of adult Canadians have credit cards and the average is 2.2 per household. You might have more - as of October 2014, 72 million Visa and Mastercards were in use in Canada. In December of 2015, spending on these cards increased by 5.29% over the previous December.  For the last quarter of 2015, spending on credit cards rose 7.16% over the spending in 2014. Credit card debt accounts for 5.4% of total household debt in December of 2014 and 46% of Canadians have credit cards. (source: http://canada.creditcards.com/credit-card-news/canada-credit-card-debit-card-stats-international-1276.php) 1 in 10 Canadians are ashamed of their debt. Are you 1 of the 10 Canadians who feel ashamed by their debt? Shame can manifest itself in many ways. Perhaps you don't discuss your debt. At all, with anyone...