Are you out of your debt comfort zone? Does it seem as though you’re paying too much to bill collectors and not enough for savings and the things you enjoy in life? If so, it’s a good idea to figure out just how much debt you have and compare that to how much you earn. This will give you clear understanding of your financial health.
Debt load is a term that is used to describe a consumer’s amount of debt. It is often used to understand if you are carrying a “safe” amount of debt. Creditors look at a debt/income ratio, comparing your income with your debts to analyze whether you have an appropriate amount of debt. The debt/income ratio is figured monthly and reveals either how good — or bad — your financial situation is. Read more
Employers must acknowledge the role of family caregivers to get a true picture of the costs of cancer care, according to a University of Alberta professor.
Janet Fast, a professor of department of human ecology at the University of Alberta, told the audience at Benefits Canada’s 2017 Employers Cancer Care Summit in February that the army of family and friends assisting patients with their everyday needs are an often-overlooked pillar of the medical system. Yet without them, the entire health system would collapse, she noted. Read more
Most people have at least one bad financial habit. Whether it’s impulse shopping, forgetting to pay bills on time or putting off building that emergency fund balancing what you want to do and what you “should” do is never easy.
You might recognize a few of these common bad financial habits in your life:
- Paying bills after the due date
- Paying only the minimum required on bills
- Ignoring bills and letting them go to collections
- Putting off saving for retirement or a rainy day
- Impulse shopping or “retail therapy”
- Not keeping track of how much debt you have
- Taking on debt to pay for something you don’t currently need.