This post is written by 4 Pillars’ managing partner and financial literacy expert Paul Murphy. Paul has 20+ years of experience in the banking and financial service industry.  In a sea of sharks, who do you trust? In this post, I do a comprehensive tour of all of the debt options in Canada. It’s a...Continue reading

This post is written by 4 Pillars’ managing partner and financial literacy expert Paul Murphy. Paul has 20+ years of experience in the banking and financial service industry.  Ryan, age 50, (name changed for privacy) ran a successful ad agency in a medium-sized Canadian city. Despite being a respected local business owner, his company began...Continue reading

This post is written by 4 Pillars’ managing partner and financial literacy expert Paul Murphy. Paul has 20+ years of experience in the banking and financial service industry.  I’m happy to report that my book, Beating the Debt Game, is complete!  Thank you to all the readers that have emailed me over the years, sharing...Continue reading

Debt Help: Not Everyone is an Expert                         “Beware of False Knowledge; it is more dangerous than ignorance.” George Bernard Shaw The road to hell is paved with good intentions When you live with a lot of debt, sometimes you ask for help from friends and family. A small loan to cover expenses, help...Continue reading

Your Survival plan – When your payments exceed your income. Let’s not beat around the bush, these are scary and stressful times. Remaining physically healthy is the priority — and thankfully, most of us seem to be achieving that.  However, very few of us can say our current or future financial situation is a healthy...Continue reading

For small business owners the fear is overwhelming.  The challenges faced today are unlike any other challenges small business owners have faced before.  In the past, when we’ve faced financial challenges we have been able to look back on a decision or a string of decisions and events that caused the issues and recognize what...Continue reading

Early indications of 2020 numbers (that is, before the COVID-19 crisis hit) mentioned that bankruptcy and insolvency numbers would be at an all-time high. However, since March and over the next couple of months we are likely going to see a large decline in projections. Normally a decline in bankruptcy numbers is a positive and...Continue reading

Don’t forget CERB is a taxable benefit. The Canada Emergency Response Benefit (CERB) provides Canadians whose jobs and income have been affected by COVID-19 with desperately needed cash to meet their basic day to day living expenses. The federal government will provide those approved for CERB $500 per week, for 16 weeks. For those needing...Continue reading

Canadians with federal student loan debt are getting a break on payments and interest over the next six months as all efforts to stabilize the Canadian economy is being taken. The payment relief is optional, and students can keep making their payments, it is always recommended that if you can pay, you should pay.  Deferring any type...Continue reading

Don’t sweat your credit score during COVID19 A good credit score is important but not a priority during financial crisis. If you are one of the millions of Canadians suffering financially from the coronavirus pandemic, you should not focus on how this will impact your credit score right now. However, you should protect it where...Continue reading