One comment we here a lot in our Cambridge Office is “I wish they taught you how to handle money in school”.
If I was teaching how to handle money and finances in school, my first piece of advice would be “Have a Plan”. As outlined in this video, the message is clear, if you fail to plan, your planning to fail.
Here’s the quick version of financial planning:
The first step in planning is understanding where you’re at. Grab your bank statements, use a blank piece of paper or spreadsheet and list what money you currently have coming in and what’s going out. See and understand where you money goes on a regular basis.
Step two, is think of the future… the classic question of “where do you see yourself in 5 years?” comes to mind. Are you planning a wedding, having kids, moving, retirement? All these goals have differing impacts on your budget.
For example, if you’re single and you’re thinking of getting married and having kids, you’ll be wanting to think about how much a bigger house will cost, bigger utility bills, RESP savings, bigger life insurance premiums, more expensive christmas’s and birthdays.
All these things will require more money and putting the expenses on a credit card or credit line is not the answer.
The biggest are most people have worry over is how much the debt is costing them. Again, we hear the expression “I could get ahead if I was not stuck having to pay these debts”.
In the following video Doug Hoyes further explains the importance of planning and taking the first two steps towards creating that plan.
The good news is, it’s never too late to email or call us on our number (519) 622 3773. Myself and my colleagues are happy to talk with you about your situation. One of the good things about calling us, is that you’ll get advice on all your options and we’ll chat to you about the pro’s and con’s of all available options we can think of relevant to your unique situation.
Whether it’s better budgeting, re-financing, consolidating debt, credit counselling, consumer proposals or even bankruptcy, we’re trained to educate you on all aspects of these options to help you find a solution and better yet, a plan to get you back on track or keep you heading in the right direction.
Most people we talk to often end up saying “wow, I’m glad I called – I feel better already”.
About Howard HayesHoward has worked in our Cambridge office for many years helping Cambridge residents find solutions for debt problems. As an Estate Manager Howard is able to explain all your options and find a solution that works for you.
