CAIRP

Canadian Association of Insolvency and Restructuring Professionals

Financial Planning

How to Make This Year a Financial Success

January 25, 2024A guide to improving your financial health and well-being. Many people start the new year with the goal of improving their financial situation, but often struggle to stick to their plans or achieve their...

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Stress-Free Holiday Spending Tips

December 8, 2023The holiday season is a time of joy, celebration and often, overspending. It is easy to get caught up in the excitement of the holidays and end up with a hefty credit card bill come January. However, with...

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Modeling Financial Behavior

September 27, 2023September is always a season of change. As young children take their first steps into learning, older children begin to consider their options for work life or post-secondary education. As parents, guardians...

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Planning for Retirement: Age-appropriate Advice

September 20, 2023When it comes to planning for retirement, there are two very different groups of people. The first group consists of those who start planning early and the second group consists of those who had a late...

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Is there such a thing as "Debt-Free"?

August 16, 2023In theory, it is possible to be debt-free. Being debt-free means that you do not owe any money to lenders or creditors, so you have no monthly payments or interest charges to pay off. This situation can...

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What to keep in mind when refinancing your home

May 24, 2023According to the Canadian Bankers Association, in December 2020 Canadian homeowners had an average home equity of 73% of the home’s value. I suspect this statistic is largely attributed to mature homeowners...

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How to build a solid family financial plan

March 2, 2023I grew up in a generation where, when a conversation about money was happening, I was asked to go to the other room. It was a taboo subject that was talked about in private rather than an open family conversation....

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Inheritance: Using Family Day to Start a Conversation with Your Heirs

February 14, 2023RBC Wealth Management reported that Baby Boomers in Canada are set to transfer a whopping $150 billion to their heirs by 2026.  In the US, that number is closer to $68 trillion.  It will be the largest...

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Top 5 Financial Pitfalls for Seniors and Advice on How to Avoid Them

November 21, 2022Increasingly seniors make up a greater percentage of debtors who find themselves in financial straights and in need of assistance from a Licensed Insolvency Trustee.  These are the Top 5 financial pitfalls...

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Tips for Navigating Back-to-School Financial Stress

September 21, 2022All across the country, students are starting a new school year this month. Smiling, eager teachers are greeting them at the doors. There’s no doubt, September is a time of exciting transitions for many—and...

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Mortgage 101

June 16, 2022At the time of writing, the sale price of the average home in Canada is over $800,000 and well over $1 million in major urban centres like Toronto and Vancouver. Let’s face it, if you have made the decision...

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Spring Cleaning your Finances

April 25, 2022As the weather improves, so does our motivation to spring clean our homes and gardens.  But what about your finances?  Here are five ways to spring clean your finances: Take Inventory * Pull your...

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Financial Resolutions for the New Year

January 31, 2022With the start of a new year many of us will take the time to reflect on resolutions for the coming year. Some of the more popular resolutions tend to be health related or about relationships, work, and...

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Budgeting: The Key to Financial Success

November 11, 2021The thought of budgeting may feel difficult and add additional stress but if you break it down into sections it is not as daunting as one may think. No matter what your financial situation is, budgeting...

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The Importance of Financial Literacy

September 29, 2021What is financial literacy anyway? It is an understanding of concepts including saving, investing and debt that leads to an overall sense of financial well-being. With knowledge you set yourself up to...

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Money Management: Financial Literacy Lessons for Kids at Every Age

March 26, 2021Teaching 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, 2021Financial 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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Rate your Impulse Spending Habits; 10 Tips to Stop Impulse Spending

December 17, 2020On 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, 2020Most 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, 2020As a Licensed Insolvency Trustee (LIT), one of they many duties we are charged with is reviewing an individual’s budget.

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Budgeting Apps: Which ones should I use?

March 6, 2020With a multitude of apps available it can be difficult to choose which is right for you. As a follow-up to last month’s How to be more financially secure in 2020 blog, I took a look at popular budgeting...

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How to be more financially secure in 2020

January 14, 20202019 has been an eye-opening year for everyone, especially when it comes to finances. If you haven’t heard the news yet, consumer insolvencies are rising in Canada and will continue to do so. If you...

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