Owning a car can give you the freedom to go where you want and when you want, but there are costs that are rarely calculated. Unless you plan on paying for your car with cash, monthly car loan payments generally last from 3 to 8 years. Things have changed in the new and used car market since the pandemic. There is apparently a microchip shortage that is impacting manufacturers across the globe. But what does that mean to you? Licensed Insolvency Trustee, Francyne Myers takes a look under the hoo...
Aug 24, 2022•20 min•Ep. 62
Renting versus buying is one of those questions that has been asked by millions of Canadians in every generation. But the answer is not as straightforward as it used to be. With the real estate market slowing down and interest rates rising, it is a difficult decision. Many are wondering if this may be a good time to buy or is it more economical to keep renting. There are other factors to consider, including your lifestyle, your finances and what the property market is like where you are buying. ...
Aug 24, 2022•20 min•Ep. 61
If you are like the average Canadian who will carry some level of debt, your 3 digit credit score can have a lot of influence on your life. It is a financial gauge that tells you and others how you are doing financially and if you can be trusted to use credit responsibly. How credit worthy are you? Licensed Insolvency Trustee, Mary-Ann Marriot explains the difference between credit worthiness and what your credit score is. She talks about the 3 elements that can ensure the best score. Other topi...
Jul 15, 2022•19 min•Ep. 58
To be discharged from Bankruptcy means that you are released from your obligations to repay all debts that have been included in the Bankruptcy filing. Although this is an important step in eliminating debt, the process is not complete until you receive your discharge. After you have gone through all of the requirements, your Licensed Insolvency Trustee will issue you a Certificate of Discharge. What actually happens after you have been discharged from your Bankruptcy? Is there a possibility of ...
Jul 15, 2022•19 min•Ep. 57
Contrary to popular belief, you will not lose everything when you file for Bankruptcy. Each province has its own exemptions. The Bankruptcy law dictates which assets and how much equity you are allowed to retain. Licensed Insolvency Trustee, Derek Chase walks us through the BC Bankruptcy exemptions rules that allow some assets to be retained. He explains that the Bankruptcy asset exemptions are set to help people get a fresh financial start and not to cause hardship. Derek also explains: How the...
Jul 13, 2022•20 min•Ep. 56
A recent Canadian Survey of Financial Security found that people with disabilities, or who have spouses with disabilities, held 25% less in assets, not including housing. In accordance, they are less able to save for hard times or retirement. With the added stresses of a pandemic many are struggling. Today's podcast features Derek Chase, Licensed Insolvency Trustee talking about disability and debt. Debt is debt whether you are disabled or not, but there are programs and tax benefits specificall...
Jul 13, 2022•19 min•Ep. 55
The rising cost of nearly all aspects of daily living is taking a toll on Canadians. Many are feeling less hopeful about their financial future than they did a year ago and are looking for ways to get out of debt. As the cost of living rises, more Canadians are realizing they need to get a handle on their finances. Leigh Taylor, Licensed Insolvency Trustee, takes a look at the different professionals that may be able to help and what they offer. He also covers: The first step to taking back cont...
Jul 07, 2022•17 min•Ep. 54
The rising cost of housing, groceries, gas and most other goods and services are weighing heavily on Canadian’s minds and budgets. Record inflation rates are taking a toll on stress levels. This is causing many to take action to get a handle on their finances. Licensed Insolvency Trustee, Leigh Taylor, addresses these concerns in today’s podcast. Taking positive steps to get a handle on your finances can alleviate the stress. Leigh talks about some of the options to deal with debt. Other topics ...
Jul 06, 2022•18 min•Ep. 53
Lending money to family or friends is tricky terrain to navigate both financially and personally. Before co-signing that loan or writing that cheque, make sure you take measures to reduce your financial risk and avoid lasting damages to the relationship. If your efforts to help someone you care about lead to disagreements or put your own finances in disarray, then saying ‘no’ is the right thing to do. Licensed Insolvency Trustee, Matthew Fader, sees people who have had lasting consequences when ...
Jun 03, 2022•20 min•Ep. 50
Housing prices in Canada are set to keep rising throughout 2022. The trend is not expected to slow down even with the prospect of higher interest rates. Homeowners with existing mortgages are the ones benefiting from the gap between low interest rates and high inflation. But what is the true cost of home ownership? Is it still a good investment? In today's podcast Licensed Insolvency Trustee, Matthew Fader, talks about mortgage and debt. He goes through the different refinancing options availabl...
Jun 01, 2022•22 min•Ep. 49
Being stuck in the debt cycle can seem like a never ending struggle to try to keep ahead of repayments. Many Canadians are trapped in long-term debt cycles they can’t escape. But with a little planning and a bit of discipline, you don’t have to be stuck in the cycle forever. No one needs to live under a cloud of debt indefinitely. This podcast features Derek Chase talking about debt cycles and how to break them. Derek also speaks to: What keeps us in the cycle of debt How inflation is affecting ...
May 30, 2022•19 min•Ep. 48
It can be hard sometimes to try to figure out financially where your company ends and where you, as a person, begins. This is especially true when personal and business debts and assets have become entwined. If a business is not a corporation, then there’s not much difference between personal Bankruptcy and that of a small business. This podcast takes a look at the differences between business Bankruptcy and personal Bankruptcy. Licensed Insolvency Trustee, Derek Chase, talks about the similarit...
May 29, 2022•15 min•Ep. 47
Being self-employed is about being independent. Most people enjoy the feeling until it comes to tax season. Obligations to the Canada Revenue Agency (CRA) can feel like you’re twisted in red tape and paperwork. But it doesn’t have to be so. In this podcast, Licensed Insolvency Trustee, Derek Chase talks about taxes and self-employment. How can you avoid the stress of the annual tax season? What systems can you put in place that will keep you on track through the year. Derek also discusses: Why s...
May 28, 2022•18 min•Ep. 46
Licensed Insolvency Trustees (LIT) are licensed through the federal government. Many are accountants by trade and have specialized in debt management. They have completed an extensive program of training and examination. Jillian Taylor-Mancusi watched her father, Leigh Taylor, work as a Licensed Insolvency Trustee as she grew up. She saw how he helped people manage their debt and how it changed their lives. Jillian realized that she too wanted to be able to do the same. She received her Licensed...
May 08, 2022•19 min•Ep. 45
Statistics Canada says the ratio of household debt to disposable income has hit a record level. Canadians are taking on more debt. Looking for ways to get debt relief can be a stressful and bewildering process. In this podcast, Licensed Insolvency Trustee Jillian Taylor-Mancusi talks about her experiences working with people dealing with unmanageable debt. She shares the Bankruptcy questions she most frequently gets asked and also gives her advice on how to reframe these questions. The five topi...
May 07, 2022•18 min•Ep. 44
Women have made gigantic strides toward equality in recent years but still face financial challenges that men don’t. It’s hard to believe that, in this day and age, women are still not considered equals when it comes to money management. This podcast takes a look at the myths surrounding women and money. Licensed Insolvency Trustee, Francyne Myers shares her insights gathered over the 20 years she has been working with people in debt. Along with busting the myths around women’s poor money manage...
Apr 25, 2022•23 min•Ep. 42
Sitting down and talking about your financial values is going to help your relationship be much more open now and in the years to come. Discussing finances early on in your relationship is one of the best ways to make sure you both can get on the same page. It is important to understand each other’s financial status, expectations, and habits when it comes to money. You can then make informed financial decisions based on mutual agreements. Francyne Myers, Licensed Insolvency Trustee with Allan Ma...
Apr 25, 2022•21 min•Ep. 43
Many Christians and people of faith feel guilty about not being able to pay their debts. Is it righteously or morally wrong to file for Bankruptcy, knowing it would mean not being able to adhere to the original terms of agreement with creditors? Bonnie Hooley is a Licensed Insolvency Trustee and a person of faith. In this podcast she shares her experiences working with people who have concerns about managing their debt with their religious beliefs. Is it morally wrong to file for Bankruptcy? Thi...
Apr 11, 2022•15 min•Ep. 41
During the ongoing pandemic, Canadians have increasingly relied on the internet to conduct everyday activities. But with increased activity online scams have also been on the rise. People of all ages can become victims of fraud. The Canadian anti-fraud centre estimates that less than 5% of fraud victims report their occurrences. Today’s podcast delves into online fraud. Licensed Insolvency Trustee, Bonnie Hooley discusses the different types of scams and how anyone can become a victim. She answe...
Apr 05, 2022•18 min•Ep. 40
Technology has changed our world in many profound ways. It really is impossible to ignore it. With the high price of cell phone, internet and streaming services it’s hard to remember that there are pieces of tech and software that can actually help you save money. Mary-Ann Marriot, Licensed Insolvency Trustee with Allan Marshall & Associates explores ways of using technology to save money. She offers advice on: Points cards and how to stack points Cash back apps and how to increase your earn...
Mar 21, 2022•20 min•Ep. 39
Our money beliefs are something we rarely consider and almost never talk about. So where do they come from? What we believe about money is born of our past experiences and can predict our actions in the future. In today's podcast, Licensed Insolvency Trustee, Mary-Ann Marriot of Allan Marshall & Associates takes a deep dive into money beliefs. Where do these beliefs come from and how can we shift them. She also explores: The top 3 money beliefs that get in the way of Resources for learning a...
Mar 21, 2022•18 min•Ep. 38
Do you have bad financial habits? You are not alone. A recent survey found that two-thirds of Canadians confess that they have personal financial habits that they plan to work on. A financial habit is just the value standards and routine practices that people rely on to move through their day to day financial lives. It supports our ability to effectively manage money and respond quickly to financial decisions and challenges that occur. Licensed Insolvency Trustee, Rob Johnsom from Allan Marshall...
Mar 09, 2022•18 min•Ep. 37
APR is an acronym for annual percentage rate. It is a calculation that includes both the interest rate and the finance charges of a loan. In other words it is the annual cost over the life of a loan - the total cost of credit. Do you know how much the loan you just signed will end up costing you? Have you calculated the true financing costs? Most people see only the interest rate calculations. Today’s podcast interview is with Licensed Insolvency Trustee, Rob Johnson of Allan Marshall & Asso...
Mar 09, 2022•14 min•Ep. 36
We’ve all heard the Chinese proverb reminding us that ‘the best time to plant a tree was 20 years ago and the second best time is now’. It also reminds us that the best time to start saving was when we were young. But were we given that advice and if so - did we take it? Today's podcast features Derek Chase, Licensed Insolvency Trustee, on Vancouver Island. We asked Derek what advice he would have given to his younger self. He also discusses: How to educate yourself and gain an understanding of ...
Feb 24, 2022•19 min•Ep. 33
The Bank of Canada says that food price increases will likely outpace inflation. This is mainly due to supply disruptions and higher commodity and energy prices. Canadians may have to change their habits and make different choices that are more affordable. Today's podcast looks at ways to prepare and make adjustments for food price increases. Licensed Insolvency Trustee, Derek Chase discusses creative ways to grocery shop within a budget. Other topics covered are: Online apps for food that is ne...
Feb 04, 2022•17 min•Ep. 32
The COVID-19 pandemic has been a factor in the rise of same day money services. A recent survey found that 80% of those who used payday loans did so to pay for everyday living expenses like rent and groceries. With annual interest rates ranging from 25% - 400% this is a worrisome trend. But is the cost worth the benefit? In this podcast Derek Chase, Licensed Insolvency Trustee, explains the true cost of these same day money services. He also looks at: The negative momentum and dangers of startin...
Feb 04, 2022•16 min•Ep. 31
Money management isn’t always easy and teaching your kids can be just as difficult. We sometimes forget that our kids do have money from their allowance or from birthdays and they will need to make choices about what to do with that money. This podcast is all about teaching your children money management skills. It’s not a subject many of us are comfortable with. Mark Marshall, Licensed Insolvency Trustee with Allan Marshall & Associates helps us recognize teachable moments to build in money...
Jan 31, 2022•20 min•Ep. 30
According to Statistics Canada, the average graduate finishes school with more than $26,000 in student debt. According to the Canadian Student Loan Program it takes an average of 10 years to pay the loans off in full. But what happens when you are unable to repay your student loans? Mark Marshall, Licensed Insolvency Trustee with Allan Marshall & Associates, talks about all aspects of student loans. He answers the questions: When can I include my student loans in a Bankruptcy or a Proposal? ...
Jan 29, 2022•20 min•Ep. 29
There is no question that carrying a lot of debt can be stressful. While financial difficulties often lead to mental health problems - it is also probable that mental health problems can lead to financial concerns. Today’s podcast is about the effect that financial stress has on mental health. Leigh Taylor, Licensed Insolvency Trustee, explores how the two can go hand in hand and how to prevent a downward spiral. Leigh relates stories from his many years of experience helping people deal with th...
Jan 26, 2022•16 min•Ep. 28
The Covid-19 pandemic has changed the way millions of Canadians work. Many people are finding that the money they could depend on coming in each month has now turned into irregular income. How can you make plans and live within a budget when the money that comes in varies from month to month? Licensed Insolvency Trustee, Leigh Taylor, tackles that question and shares his advice on handling finances with an irregular income. Other topics covered include: Tracking basic expenses Setting short and ...
Jan 25, 2022•18 min•Ep. 27
