Get Me Debt Free

Interest Rates are Climbing – Now’s the Time to Pay off High-Interest Debt

Interest Rates are Climbing – Now’s the Time to Pay off High-Interest Debt

While paying off your debts should always be a priority, the urgency is heightened as interest rates and the cost of living in Canada continue to climb. If you have high-interest debt, you need a strategy to lock in a manageable rate and make timely payments. If rates continue to increase, your monthly minimum payment […]

6 Common Practices that Harm Your Credit Score

6 Common Practices that Harm Your Credit Score

Your credit score is a fundamental financial metric essential to securing loans and lines of credit. Getting out of debt and building your credit is challenging, so the best way to achieve excellent credit is by avoiding common mistakes that will impact your FICO score, also known as a Beacon. In this article, we cover […]

Creating a Debt Repayment Strategy – Steps to get out of debt

Getting out of debt can seem like an impossible task. However, if you break down the steps and create a strategy, your journey to becoming debt free is far more attainable. In this article, we’ve created a 6-step process to help you take a step back and create an actionable, personalized debt repayment plan. By […]

Why You Shouldn’t Use Your Mortgage to Consolidate Your Debt

couple deciding how to consolidate their debt

You’re facing a lot of debt, and you’ve been researching different ways to eliminate that debt. During your research, you’ve probably read a lot about using your home equity to help consolidate your debts. Many people will tell you about the benefits of tapping into your home equity to consolidate your other high-interest debts. Unfortunately, […]

The Rule of 72 – How it Works Against You

woman calculating the rule of 72 on her credit card debt

Perhaps you have already heard of it, or perhaps you haven’t heard of it yet. The rule of 72 is the most powerful rule in all of personal finance. It is a simple formula that has helped the rich get richer. A tool that has helped Canadians build their wealth. At the same time, it […]

What To Know Before Hiring A Debt Relief Company

young couple considering a debt relief company

When you visit the Government of Canada website, this is the first thing they say about using debt consolidation companies: “Consumer alert: Some companies offering help to pay off debt or repair credit are misleading consumers.” Unfortunately, there are many companies out there claiming to help those who are financially struggling, only to mislead their […]

What you need to pay off your debt, besides money

two people making a debt relief plan to get out of debt

Is debt constantly on your mind? Owing money can be extremely overwhelming. Especially when you’re not sure where the money is going to come from to pay it off. You work hard, but your bills just keep piling up. When it gets to a certain point, your debt relief can feel as though it’s taking […]

What is debt restructuring?

two people signing new debt restructuring paperwork

Debt is difficult to live with. It can feel as though there is a weight on your shoulders at all times. It’s overwhelming and impacts our everyday lives. Many Canadians struggle when it comes to talking about their financial hardships. Because of this, they don’t confront their debt until it becomes out of control or […]

How to turn your finances around

an older couple going for a walk, talking about the debt

As we’ve discussed, debt has become the new normal for Canadians. But why? We live in a society where it seems impossible to live without putting ourselves in debt. To buy a house, most need to take out a mortgage loan, which many people spend years, even decades paying off. For some of us to […]

What happens when you file for bankruptcy?

what happens when you declare bankruptcy

Dealing with debt is never fun. Many of us try to sweep our financial woes under the rug and hope they disappear with time. But what happens when that pile under the rug becomes too big to go by unnoticed? Debt is never fun to deal with, but it has to be done. The bigger […]