Industry Views & NewsBlogs
Welcome to the official blog of the Canadian Association of Insolvency and Restructuring Professionals! We hope you will enjoy insightful and informative posts by our team of expert bloggers on a wide range of topics, including individual, small business and corporate insolvencies, budgeting, financial planning, credit rebuilding and other money management tips for anyone looking to live a debt free life.
Summer activities on a budget for every age
August 5, 2021
With summer vacation upon us, and with covid restrictions lifting across the country, we can finally think about leaving the house and looking for activities other than watching Netflix. Travel is still...
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Free Yourself from Financial Debts
July 27, 2021
If you were to google “Steps to Financial Freedom,” there is no shortage of experts’ suggestions, tips, Top 10 lists, publications and posts, outlining the best way to achieve financial freedom....
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Tax Debts in Bankruptcy
July 7, 2021
For one reason or another, most people who come to see me for advice seem to believe that tax debt will not be included in a bankruptcy. When I ask them why they have this preconception, most people simply say, that is what I was told.
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Money Management: Financial Literacy Lessons for Kids at Every Age
March 26, 2021
Teaching children about money can seem like a daunting task, especially if it’s not a skillset you have necessarily perfected yourself! But breaking down the core concepts of money and finances into
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Take Care of Yourself, Take Care of Your Money
March 24, 2021
Financial wellness can be part of an overall health wellness program. The Financial Consumer Agency of Canada stated that “mental, physical and financial wellness are three pillars of good health”
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Give Your Finances Some Love This Valentine's Day
February 12, 2021
With Valentine’s day rapidly approaching, here are some budget friendly suggestions to keep this occasion all about the love. These tips could easily be applied to other occasions such as anniversaries and birthdays, especially during these Pandemic times.
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How to get your debt under control
January 29, 2021
It’s a new year with new beginnings. When polled by CIBC, tackling debt remained the top financial priority for most Canadians. Debt-to-income ratio is a measure of how much debt a household has relative to its income.
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Rate your Impulse Spending Habits; 10 Tips to Stop Impulse Spending
December 17, 2020
On a scale of 1 to 5, with 1 being “not at all” and 5 being “always”, how often do you impulse spend? This is one of the questions I use when doing the mandatory counselling sessions under the BIA.
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The Seven Enemies of Financial Success
November 30, 2020
Most blog posts and advice columns talk a lot about what it takes to be successful financially and share tips on improving your finances, such as setting up and following a budget, spending wisely and saving strategically.
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The importance of considering all costs when budgeting for a vehicle
November 19, 2020
As a Licensed Insolvency Trustee (LIT), one of they many duties we are charged with is reviewing an individual’s budget.
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How insurance may reduce risk of income loss
October 8, 2020
Many financial advisers and counsellors recommend saving a few months expenses to cover contingencies such as job loss. Insurance coverage for income loss may be an alternative for long term external factors beyond our control such as the current COVID-19 pandemic.
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CERB Tax Implications
August 18, 2020
If you’re one of the many Canadians who collected Canada Emergency Response Benefit (CERB) payments in 2020, it’s not too early to start thinking about tax time.
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