It cannot be denied that student debt load is a problem – and a serious one at that. The pressure of mounting student debt while juggling between studying and employment only compound the burden. Research has found that debt aversion is strong among those who choose not to pursue post-secondary education and high student debt levels dissuade recent graduates from entrepreneurship. In addition, student loan obligations also tend to reduce the ability of new graduates to start a family or find gainful employment to cover the cost of rising tuition fees. Many students or new graduates end up taking lower paying jobs in their desired field simply to get a “foot in the door.” According to Statistics Canada student unemployment is almost twice as high as the rate of unemployment for the general population.
Getting into debt can happen to anyone, causing mental stress and uncertainty. To learn how to better manage your money, you must also have an understanding of your relationship with money. Building a relationship with money is just as important as relating to the people in your life. You have to learn to love the value and importance of money, as well as pay attention to how and where you spend it. Improving your relationship with money requires a fundamental change in your mindset. You need to not only recognize the type of person you are in relation to your money, but to also look at your own motivations for earning and spending money.
Consumers have often expressed their concerns to me about harassing calls from debt collectors and how to deal with collection agents. Some even complain that even though they have made an assignment in bankruptcy (i.e. filed for bankruptcy) or made a Consumer Proposal, some credit collection agents continue to call.
First of all, it must be understood that the job of all debt collectors is to convince debtors to pay the debt. These debt collectors take their job seriously and because they work on commission, they are highly motivated to collect.
While no one really wants to borrow more than they can afford, life doesn’t always go as planned. Things happen in life in which you have no control. To avoid the feeling of being strapped into debt for life as you approach retirement, it is necessary to make sure you’re debt-free by the time you’re actually ready to retire. This means your mortgage should be paid off, your credit cards should have zero balances and you should own a car that has been paid off.
There is an often quoted proverb of Aesop—the saying of which goes like this, “you cannot please everyone”. Being your own person is not a new struggle. In every age people have constantly struggled to be themselves. What I see missing from this age old problem is the faculty of insight that all of us have been blessed with and the intuitive ability which unfortunately we do not often use these to our advantage. There is nothing wonderful or joyful about feeling trapped or coerced in a life devoid of happiness and fulfillment. The rapidly changing world around us constantly calls for reinventing ourselves in the ways we never thought were possible. The need to be appreciated is so intense that some people even go to the extent of believing if they act weak and meek other people are sure to love them, or if they go along with the crowd just to please them, they will feel protected from any blame; and that if they keep their hands tied up and do not work, or make any effort somebody will likely feed them. Read More…
All of us have an innate capacity for happiness and being wealthy because we are resilient beings. Happiness brings with it more joy, more competence, more productivity, and more success. The key paradigm is to realign your focus and diminish stress that comes from a narrowly defined focus. Studying and admiring rich successful people I learned that there is a thread of consistency that runs through them: they do not worry about money and each had a strong unshakeable belief in their own ability to see the grand picture, loved their lives and had great self-esteem. There is a correlation between less worrying and success. Less worrying equates to more success in life for too much worrying creates fear, and fear prevents an individual to move upward and forward with their full potential. Worrying about not having enough will only attract the negative thoughts, and you end up with “nothing” in actuality. If you ask God specifically to give you money, it is likely that your prayers will go unanswered because there is a trace of selfishness inherent in that prayer. Read More…
From the first time I met my friend some twelve years ago, I have always felt a certain thrill of anticipation that grabs me every time I am greeted by her Chilean effusiveness. To talk to her is like leafing through a walking encyclopedia; she is not pedantic or over powering in any way. She is a delightful, sensitive, intelligent, intuitive, self-confident career woman constantly multi-tasking her life at work and at home. Our relationship, (if that term can be used in a pure sense is rich enough without the intimacy) is a high and low romancing and courting nature that essentially runs deep and transcends time and space. And even though there are differences on certain issues and things, the friendship is strong and continues to evolve over time.