Right now the average household in Toronto carries around $40,000 in debt outside of their mortgage. A staggering amount since we’re facing the worst economic times since the Great Depression. With the average annual salary in Canada at roughly $38,150 means we’re spending more than we make. You don’t have to be a rocket scientist to know where that will eventually end up.
If you have to borrow money to keep afloat and make ends meet, then you might already be in trouble. But to borrow money in order finance a lifestyle you simply can’t afford is crazy. Each time you whip out that credit card for a purchase you must yourself, do I really need this?
Instant gratification and the inability to differentiate between needs and wants are the two biggest contributing factors. We are all human with desires, but desire often leads us to dire consequences down the line, particularly when that credit card bill comes.
Every time you make a purchase ask yourself: “Is this something I absolutely need?” An effective method is to tape the words “Do I really need this” to the front of your debit and credit cards. The second step is to establish a program to eliminate your current debt. You can never truly be free unless you owe nothing, and being debt free is the first step towards becoming financially free.
But what if you’re already beyond that stage, and standing on the brink of financial ruin and so overwhelmed you believe there is no place to go for help? That’s where synergy Debt Group’s debt management steps in.
Synergy Debt Group of Ottawa and Scarborough has debt management programs that enable consumers caught in the “minimum monthly payment” trap to become debt free within 36 to 48 months instead of decades. At Synergy Debt Group, we designed debt management programs to help our clients achieve their financial goals and quickly gain independence from creditors. If you are truly serious about getting out of debt, preserving your credit, and saving money with a higher degree of financial literacy, then whether Synergy Debt Group, or another debt service company, take that first essential step.
If you have to borrow money to keep afloat and make ends meet, then you might already be in trouble. But to borrow money in order finance a lifestyle you simply can’t afford is crazy. Each time you whip out that credit card for a purchase you must yourself, do I really need this?
Instant gratification and the inability to differentiate between needs and wants are the two biggest contributing factors. We are all human with desires, but desire often leads us to dire consequences down the line, particularly when that credit card bill comes.
Every time you make a purchase ask yourself: “Is this something I absolutely need?” An effective method is to tape the words “Do I really need this” to the front of your debit and credit cards. The second step is to establish a program to eliminate your current debt. You can never truly be free unless you owe nothing, and being debt free is the first step towards becoming financially free.
But what if you’re already beyond that stage, and standing on the brink of financial ruin and so overwhelmed you believe there is no place to go for help? That’s where synergy Debt Group’s debt management steps in.
Synergy Debt Group of Ottawa and Scarborough has debt management programs that enable consumers caught in the “minimum monthly payment” trap to become debt free within 36 to 48 months instead of decades. At Synergy Debt Group, we designed debt management programs to help our clients achieve their financial goals and quickly gain independence from creditors. If you are truly serious about getting out of debt, preserving your credit, and saving money with a higher degree of financial literacy, then whether Synergy Debt Group, or another debt service company, take that first essential step.
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