Whether you call it rainy day savings or an emergency fund, the need to save up a sum of money that you can use at a moment's notice is real one that many people ignore. Twenty or so years ago, financial experts suggested that people put away enough money to cover all of their living expenses for a minimum of three months. Today, that number has been increased to six …
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When debt collectors are calling, you need to know how to manage your debt. You may have medical debt, student debt, or credit card debt. You may have a problem with old bills, or you may have issues paying your mortgage. There are a few steps listed below that will help you manage your debt. You do not need to make a payment when the debt collectors call, and you do not need to handle your debt alone.
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Credit counseling is a good way for you to manage debt, understand how to repair your credit, and get help with creditors who are calling you all the time. There are a few tips below that explain when you should talk to a credit counselor, and you will learn about the benefits in each example. Credit counseling is a good thing for anyone to try when they feel they cannot get their debt under control.
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If you have a portfolio of debt that you are managing, you really need to start saving money. Paying off debt without saving will never get you to the point of being able to break the borrowing habit.
If your finances are in really bad shape, you may need to get them stabilized before you can start saving. In extreme cases, it may be appropriate to seek help from food …
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The RRSP is also known as the Registered Retirement Savings Plan. This is a financial tool that is used in Canada to pool retirement funds or create a personal retirement account. The money that is paid into these accounts can be deducted from your income taxes, and it is taxed at the marginal rate when you make a withdrawal. However, there are several different styles of this account. You need to figure out how you want to use an RRSP when it is time to save for your retirement, offer benefits to your employees, or pool funds with friends and family.
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