Revenue Canada Collector Scam This may be hard to believe, but phone scammers have actually started to pretend to be CRA (Canada Revenue Agency – aka Revenue Canada) agents in order to try to coerce people into paying them money. Don’t fall for this recent and very prevalent phone scam. We help a lot of people deal with and reduce their debt, and this sometimes includes helping people and businesses reduce their tax debts; so a...

Adults know they need to save money for that proverbial “rainy day,” but how do you teach a child that saving money is a good idea? Whether they are saving up for a new toy or a long-term goal, it’s important to teach them the skills needed to achieve that goal. Needs vs. Wants A good first step is to teach your child the difference between needs and wants, because otherwise it is the foundation of good money skills. Needs: Explain to your...

It’s 2 o’clock in the morning and you’re still awake worrying about how you’re going to make ends meet this month. You’re not alone. Canadians have been particularly anxious about finances since 2007, when Lehman Brothers bank collapsed, plunging the world into the worst economic crisis in years. According to the Holmes and Rahne Stress Scale, the 16th highest stressor is a major change in financial position (good or bad). In 2012, the Canadian...

Debt-related stress affects everyone in a family — adults aren’t the only ones who feel that anxiety. Children pick up on stresses around them, even if you think you’re hiding your own anxiety well. Keep in mind that just because you speak about your situation in hushed voices doesn’t mean your child doesn’t hear and understand. Children are much more astute than we realize and pick up on all the little changes in our manner, speech, and...

More and more people are getting into debt because of how easy it is to get a credit card or to switch credit companies. Most people don’t want to be in debt, but sometimes circumstances are out of their control. Let’s say you’re in a two-income household and your partner loses his or her job. You still have car payments, house payments, daycare, and other bills to pay. These don’t stop when you lose your job. You may be able to defer...