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Leaving debt for your children and grandchildren

Friday, June 30, 2017

Current and future government debt
Despite some hopeful sentiments currently being spouted in the political arena, many experts say that leaving the next generation with significant debt in British Columbia is inevitable. This conclusion takes into account current consumer debt across the province, which is expected to reach almost $80 billion in the next few years. As consumer debt across Canada has risen steadily, Vancouver and other cities have certainly followed suit and it falls on taxpayers to worry about this―both now and down the road. 

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The impacts of paying only the monthly minimum on credit cards

Tuesday, June 27, 2017

Credit cards provide a great deal of comfort to consumers who would otherwise struggle with paying medium to large sums of money upfront for their purchases. Using a credit card delays the actual payment with the idea of a temporary loan from your financial institutions and the expectation that you will pay back the money later on. Your monthly credit card statements are your deadline to pay it back without earning interest. 

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Effects of Increased Gas Prices on Personal Budgeting and Debt

Friday, June 16, 2017

Rising gas prices have seemed to become a natural part of life. And just like the inflated housing market, it is very difficult to avoid if you drive a vehicle (or need somewhere to live). Unfortunately, these needs have become two of the most expensive aspects of day-to-day life. But they also affect almost everyone because shelter and transportation are so important. High expenses can lead practically anyone who is already struggling with their finances to require debt help and even face potential bankruptcy in Vancouver

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How Increased Canadian Business Investing can affect Personal Debt

Friday, June 09, 2017

Now that the significant dip in oil prices that occurred three years ago has been mostly rectified, businesses are apparently gaining more confidence in the market. That means that many companies are looking to make investments and more than half plan to hire more employees to work for them in 2017 than they have since the dip first occurred. This factor, coupled with a rise in energy and the positive impact of the lower Canadian dollar when it comes to trading and attracting tourists, means a probable boost in the economy that businesses have been craving. 

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The Importance of Saving for Emergency Funds: are you ready for life’s unexpected turns?

Monday, June 05, 2017

Life’s little unexpected expenses aren’t always so little. Emergency dental surgery, urgent roof repairs and a busted transmission are all expenses that’ll easily cost you thousands of dollars. But most costly of all may be an unexpected job loss. An emergency fund can prevent you from being forced to take out costly loans, dip into retirement savings or rely on high-interest credit cards to get you through the rough patch. 

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