Inheriting assets from a loved one can be a bittersweet experience. But what about inheriting debts? Many Canadians are understandably concerned about the possibility of being saddled with a deceased…
Empower Yourself with Knowledge for a Debt-Free Future In the complex world of debt, questions abound. We understand that navigating the unknown can be difficult; we're here to guide you…
Unlocking Financial Wisdom for a Stress-Free Life! Given our busy lives, budgeting, and financial planning are easy things to overlook, especially irregular and unexpected expenses, leading many into debt spiral.…
In the realm of debt relief, the journey often begins with enthusiasm and determination. Clients are fueled by excitement, anxiety, and motivation to finally embark on the process of debt…
What is debt insurance? Debt insurance is never called debt insurance, it’s called mortgage insurance, balance protection insurance, and other names. Essentially this insurance is to pay back your creditors in the event of your death or life-threatening injury or illness, depending on the specific coverage. Debt insurance has more benefit for your creditors than it does for you, and here’s why: it’s expensive, the monthly premiums do not go down although the coverage does as the debt decreases over time, and it pays only that creditor for that specific debt. Of course it benefits you too if that is your only insurance option, but it isn’t.
We find comfort in the belief that more money would solve all of our problems (or at least most of them). It gives us something to work for (more money), hope for (winning the lottery!), and dream about (what would I do with all of my money?). When it comes to having more money, the possibilities seem endless – you could finally travel, spend more time with your children, buy that fancy car that you deserve, or purchase that lakeside cottage you’ve always wanted. You could go on shopping sprees, jet set to exotic destinations, spoil your family and friends with lavish gifts. All of your debt would be paid off and you could finally quit your soul sucking job.
Contrary to popular belief, more money doesn’t guarantee more happiness. Obviously too little can make us miserable; however, research has shown that once you reach a certain earning point (between $50,000 to $75,000 are the figures that I have read here), you are not more happy than an individual with a salary in the six figures or more. It seems confusing, right? We are constantly inundated with advertisements and other media and insists that we would be happier with more – more of everything! So how is it possible that more money wouldn’t make us happier?
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