Many Canadians try to reduce debt by attacking the wrong problem: using payday loans, chasing Bitcoin, or defaulting to high-fee mutual funds. This article explains why solving the right financial problem matters, how to identify root causes, and how smarter, low-cost strategies can accelerate debt reduction. Inspired by a classic creativity lesson, this is a reminder to rethink your approach before wasting money, time, or sanity.
Do you know what your personal debt ceiling is? Can you figure out what is the most money you can have on credit before you are in deep trouble? Why not?
Reducing debt is crucial for financial freedom, but the motivations behind it can be surprising. This article explores odd debt reduction reasons, from avoiding financial embarrassment to gaining the ability to invest, donate generously, and even vacation without post-trip debt. It also critiques traditional debt advice, highlighting the importance of balance—cutting expenses, but not at the cost of financial well-being. The key takeaway? No matter your reason, eliminating debt improves financial security and peace of mind.
Keywords: debt reduction, financial planning, budgeting, investing, savings, financial freedom
While debt-shaming seems to be a new buzzword, being in debt does not make you bad. This does depend on how you managed to get in the predicament.
What great things can you do with your HELOC now that interest rates are going up? You would be surprised, here are 3 solid ideas of what you can do with your Secured Line of Credit even with rising interest rates.
