Most people are doing the best that they can do... with what they have to work with.
Sometimes all someone will need is a little education, assistance or a helping hand to resolve financial difficulties. Other times individuals will need a lifestyle change to resolve their difficulties.
Some people have enough money to pay for the necessity of life expenses and nothing else...
If this is the case for you:
- pay for your necessities so that you will be able to survive
- and then prioritize how to spend your money
Until your circumstances change:
- realistically, there isn't much else that you can do
- survival is the number one priority
- debts will have to wait until some other time when your circumstances have changed
If individuals know that their situation isn't going to improve anytime soon and they have debts that they haven't been able to pay there may be other options available to them.
Some of the choices may be as follows:
- liquidate assets by selling items you don't really need for survival
- borrow from family and friends
- get a second job, take in a roommate to share expenses, look for a cheaper place to live
- return to school for training and education to upgrade skills so you will be more marketable when looking for employment
- use the food banks in your community for food
- make settlement offers to your creditors
- cash in RRSP's, or liquidate savings
- ask for assistance from credit counselling
- declare bankruptcy, or make a consumer proposal
There is no magic involved when dealing with finances! If you require assistance to deal with financial issues contact us
