Money Suggestions To Stop Yourself From Spending Too Much


Many people identify that their biggest barrier to saving money each month is themselves. If you believe that this is the main reason why you can’t seem to save any money, listed below are some strategies and tips to try.

  • Ask your bank remove access to your savings account from your bank card and your online banking. In case you have to go to the bank to get the money out, you are going to be less likely to spend it. Entering the bank to make a withdrawal will provide you with more time to think about a purchase before going ahead with it.
  • If you live with an individual, and your partner is, of course, a better saver than you are, take into consideration giving your partner some power over your savings. This can make it hard for you to spend your money.
  • Invest your money in an investment that you can not withdrawal from. It will commonly take a number of days for you to get your money free from an investment company. That should provide you with extra time to think about your decision to spend this money. Your investment advisor or investment representative may ask you why you are withdrawing the money, this could create another barrier to keep your money safe.
  • Tracking your spending is the best way to recognize areas that you will save money. When it’s written out, many people are surprised on how much they spend and the areas where they can cut back.

In case you are facing financial issues and would like a free consultation, consider J.P. Graci & Associates Ltd.

J.P. Graci & Associates Ltd.

150 Colborne St. Suite 2,

Brantford, ON N3T 2G6

Brantford: 519-753-7361

Hamilton: 905-525-7077

How Do Consumer Proposals Impact Families?

Families have a wide selection of expenses that draw on their financial
means. Families with children have expenses that are usually larger and more varied than predicted.

Sadly families do feel the financial pinch, and this triggers arguments and emotions. Being Short of necessary cash while raising a family is terrifying, and causes a lot of tension. A Consumer Proposal presents relief for debtors. You shouldn’t be humiliated about this, and you should get the advice of a Licensed Insolvency Trustee.

The downside is that all your credit cards and unsecured loans will be included in a Consumer Proposal that will be closed. If the bank is among the creditors, you will need to open a new account at a different bank.

For anyone who has a mortgaged home, the amount of equity that exists in the property will influence how the Proposal is structured. If there is a whole lot of equity, it could be necessary to sell the home. A Licensed Insolvency Trustee may quickly advise.

Consumer Proposal will adversely impact your credit rating for many years. On the other hand, the credit bureau will remove information regarding your Proposal from your credit report 3 years after you complete your Proposal.

Selected families who realize they desire financial assistance have already cut out all luxuries to feel easiness once the Proposal is in place.

You’ve read this far, take a look at reaching out to a Trustee. It is Free and Confidential.


J.P. Graci & Associates Ltd.

150 Colborne St. Suite 2,
Brantford, ON N3T 2G6
Brantford: 519-753-7361
Hamilton: 905-525-7077

Which Debts Will Be Covered By Consumer Proposal?

Should you file a consumer proposal in Ontario, make sure you meet with a Licensed Insolvency Trustee because they are licensed by the government to act as administrators of consumer proposals and bankruptcies. A Licensed Insolvency Trustee is able to effectively determine your circumstances and will help you with your the very best option.

Debts That Are Included

Should you meet with a Licensed Insolvency Trustee, you need to let them know what all your debts are. Include all of your unsecured debts in a consumer proposal. Unfortunately, you can not pick and choose which debts to include, or leave out. The creditor will determine how their debt is handled. There are two sorts of creditors. There are unsecured creditors and secured creditors. Each debt is handled differently in a consumer proposal.

Unsecured Creditors

  • Credit cards
  • Payday loans
  • Certain bank loans
  • Loans from individuals
  • CRA debts (income tax, HST)
  • Student loans

There are a few unsecured debts that are a bit more complicated to navigate around in a consumer proposal.

Secured Creditors
A secured creditor that holds a charge or security over an asset, such as a home loan.

  • Bank
  • Asset-based lender

There are two options with secured creditors:

You can keep the secured asset but you are required to keep up with current payments
You can surrender the asset back to the secured creditor.

If you happen to be going through a challenging time keeping up with your debt repayments and are considering of filing a consumer proposal, contact an administrator today. They can tell you if you qualify or not. A Licensed Insolvency Trustee is your best option for getting out of debt.

Graci & Associates Ltd.
150 Colborne St. Suite 2,
Brantford, ON N3T 2G6
Brantford: 519-753-7361
Hamilton: 905-525-7077

Don’t Wait Around to Take Charge of Your Debt

Among the reasons why people file for insolvency is because of a job loss. You might be reaching your financial obligations now, however staying on track with your mortgage and the minimum payments could be a challenge. For many Canadians, your whole pay cheque is consumed each month with your living costs and debt payments.

Doing something about it today

The simple fact is that any time is a very good time to take the appropriate steps to deal with your debt. Now that you have encountered the very fact that your debt payments are no longer controllable, here is what you should do:

  •  Prepare a budget
  • Stop unnecessary spending
  • Calculate all your expenses
  • Make a list of all your monthly payments
  • Be realistic
  • Look into a licensed insolvency trustee about your options.

Dedicate time t to eliminate your debts early. If you want help and advice, don’t be scared to talk to a licensed insolvency trustee in your area. You might not need to file bankruptcy. Consultations are free, so take advantage of this free advice now.

J.P. Graci & Associates Ltd.
150 Colborne St. Suite 2,
Brantford, ON N3T 2G6
Brantford: 519-753-7361
Hamilton: 905-525-7077