Options and solutionsReworking a budget

A balanced and rigorously followed budget normally allows a person to limit their chances related to problems of excessive debt. Using our simple and effective budget calculator tool will help you to create and follow your budget.

Your objective is to:

• Make cuts in unnecessary expenses
• Delay non essential purchases
• Prioritize paying back the debts before the highest interest rate is in effect
• Consider selling non essential goods (like a second vehicle)

If a problem occurs, the first thing to consider is to redevelop your budget, in order to try to avoid aggravating the situation and it just becomes a matter of maintaining control over it. It is important to pay attention, especially to the early warning signs.

In certain cases, the reworking of your budget can fix a problem that is not temporary, an example of this being a major unexpected expense. In other cases, reworking your budget can allow you to see what money you can be reimbursed and to find alternative solutions such as a consolidation loan or coming to a settlement with your creditors (consumer proposal).

It occasionally happens where a problem of excessive debt leads to the collection of certain things you own such as a house, a cottage, a second car, a motorcycle, etc.

In certain cases selling things can help fix financial problems quickly. It is also beneficial to get rid of certain things if they are too expensive and are not helping your financial problems. You get the chance to potentially rebalance your budget by eliminating these types of expenses.

A member of our team will happily help you regain control of your financial situation. Take a first appointment now, it is free and confidential. Contact a member of our team