Over the past several months I have been fortunate to share 14 blog posts with you. The information we have covered together has hopefully helped many of you get control of your debt, or at least learn more about the options you have when facing a budget crisis. In preparation for this blog, I took some time to review all of the Credit Coach blogs to date. I was quite surprised by the amount of information that has built up over the past several months. After some encouragement by a family member, I have decided it is time to create a blog recapping all of the posts to date to assist those readers and followers hoping to find something specific in the previous blogs.
Season or event-related topics
These blogs offer advice on budgeting and planning ahead during a holiday or annual event. My very first post, Dodging Debt During the Holidays, is a primer on how to stuff the bird not empty your wallet. You’ll find four straightforward tips on how to avoid debt and overspending during the holiday season. Spring Break Has Sprung talks about planning for a holiday getaway. This blog, although grouped in with the seasonal bunch, is really quite relatable to any special getaway that you are planning with the family. Within this group I would also include Your Tax Refund: An Opportunity to Get On Top of Your Debt. Surprisingly enough, the question of what to do with your refund pops up all over the financial services world. This decision-making process can be applied to other one-off life events such as receiving your annual employment bonus, a financial windfall or an inheritance. How to Avoid a DIY Disaster is a personal favourite due to my underappreciated home improvement skills outside of my life as a Licensed Insolvency Trustee. The DIY Disaster blog is a quick guide on what to do (or not to do) when planning a backyard renovation.
Debt help topics
Debt help blogs are the cornerstone of the Credit Coach blog series because they provide you with important information on debt relief strategies and debt options. Proposals to creditors — either formal or informal — is included in this group in the blog titled Consumer Proposals, Debt Settlement. This blog talks about making a proposal to your creditors and the various types of debt settlement or consolidation options. It also provides information and links to resources to get help with settling debts through a negotiated settlement. Two blogs talked in greater depth about the option of filing for bankruptcy: Information on Filing a Personal Assignment in Bankruptcy and Debunking Some of the Myths of Personal Bankruptcy. I am hopeful that these resources will provide some help to families that are largely and likely quietly struggling with debt, unsure what to do next.
Family and lifestyle
As I was reviewing the Credit Coach blog library, family and lifestyle was another theme that jumped out at me. How to Raise Financially Literate Children seems to be the most liked by the family in this group. It provides good advice about how to have those money talks with your children. For those that are struggling with debt and the stress that comes with it, Your Personal Health and Wellness: Is Financial Stress Affecting You provides tips about what to do when financial stress is affecting your overall health. Finally, Avoid the Retirement Debt Trap talks about retirement planning and provides useful tips and tricks on how to avoid debt when you are looking to retire.
Personal finance
Given my many years working with BDO Canada Limited as a debt help professional, the blogs about personal finance are favourites of mine. How Do You Know When You Have a Debt Problem, What to Do When Debt Becomes a Problem and Taking Control of Your Finances With a Budget can help anyone looking for information on creating and sticking to a budget or looking for help in taking control of the family finances.
I’ve enjoyed the task of putting this recap blog together for you. I do look forward to your review of the last several months of Credit Coach blogs, and I hope you as the reader will continue to find these blogs helpful.
Jayson Stoppel is a Licensed Insolvency Trustee and Chartered Accountant with BDO First Call Debt Solutions. With over 15 years in practice, Jayson assists individuals, families and companies with financial difficulties in Thunder Bay and throughout Northwest Ontario. To reach Jayson by email: JStoppel@BDO.ca
