58 - How Soaring Inflation Can Affect Your Budget

Inflation remains prevalent across all aspects of our lives, not just concentrated in a few areas such as food and gas. Alongside this, wage increases are not keeping up with inflation and households are losing purchasing power. Experts say it will be a while before Canadians can breathe a sigh of relief. How are we Canadians coping with rising interest rates and inflation? What advice could help us through these precarious times? Derek Chase, Licensed Insolvency Trustee tackles these questions and shares his thoughts on adjusting our spending habits and budgets.

Other topics covered include:

• Reducing discretionary spending to combat inflation 
• The difference between demand and supply driven inflation
• Rising interest rates affecting variable rate loans
• The renaissance of gardening and preserving
• The advantage of talking to a Licensed Insolvency Trustee sooner rather than later

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They are the ones that will give you honest unbiased advice and options for managing your debt. 

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted. 

• Derek L Chase & Associates Ltd. Licensed Insolvency Trustee
• Everything You Need to Know About Canadian Inflation Rates & Hyperinflation
• Utility Bills: Rebates, Budgeting, and Saving Energy