04 Money basics #3 How to avoid debt

Debt, like fog, creeps in on little cat feet. It’s pretty much impossible to manage day to day live without its convenience (think credit cards) but it can spin out of control with breakneck speed. And not all debt is bad. Well used, it can be a critical tool to realize your dreams. But Canadians are getting more and more comfortable with large amounts of debt…more comfortable that is, until you find yourself in trouble, and then it’s a nightmare. We talk about it all, good debt, bad debt, avoiding consumer debt, but even more importantly getting out of the debt that leaves you awake all night staring at the ceiling.   Links: If you need help:  https://www.canada.ca/en/financial-consumer-agency/services/debt/debt-help.html HELOCs: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/home-equity-line-credit.html#toc0 Student Loans: https://www.canada.ca/en/services/benefits/education/student-aid.html