126 - Should You Pay Debts First or Save

DebtMatters Podcast

English - November 11, 2023 10:27 - 16 minutes - 15.1 MB
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Previous Episode: 125 - Paying Off Your Credit Card With a Lower-Rate Card

Next Episode: 127 - More Canadians Are Living Paycheque-To-Paycheque

With rising interest rates, paying off debt can feel like it has to be your only financial priority. But should you not be saving for those unexpected expenses that keep popping up? How do you build financial resilience in these challenging times? Savings versus paying down debt, it’s a balancing act. Licensed Insolvency Trustee, Mary-Ann Marriot talks about strategies you can use to do both at the same time.

He also discusses:

Finding out and tracking the expenses you are using credit forTypical savings objectives divided into 3 categories Advantages of using multiple bank accounts Common mistakes we make when savingOptions to consider when your income is not meeting your expenses

Licensed Insolvency Trustees are federally regulated and governed by the Canadian government. You can be assured you are receiving the best unbiased advice from these debt professionals.

About Mary-Ann Marriot

Mary-Ann Marriot has been working in the insolvency field for over 25 years. She received her Chartered Insolvency & Restructuring Professional designation in 2005 and her Licensed Insolvency Trustee license in 2014.

Mary-Ann is passionate about helping people become financially literate. She feels honoured to be able to help individuals discover solutions to overwhelming situations and find peace-of-mind in their lives.

Additional Resources Allan Marshall & Associates Licensed Insolvency Trustee What Happens if I Can’t Pay My Credit Card Bills? Late Payments & Credit Scores Debt Podcasts