Consumer Debt needs to be an Election Issue. Now. October 3, 2019 I’ve been in the business of supporting consumer debtors for nearly 20 years. In that time, I have observed a steady and alarming trend toward rising consumer debt and financial instability. This week, yet another report was released pointing to what is a...Continue reading
WELCOMING A NEW VOICE: CANADIAN DEBTORS For about two decades now, I have worked with colleagues across the country to offer valuable services and support to Canadians facing crushing debt and insolvency. It has been a rewarding career journey as I know we have helped thousands move out of crisis and into financial stability. In...Continue reading
Canadians not as confident about debt loads as Bank of Canada. October 24, 2018: Today, Bank of Canada Governor Stephen Poloz raised the benchmark interest rate a quarter-point to 1.75 per cent. In this announcement, Poloz was clear that this measure was taken to achieve a relatively consistent inflation target of between 2.5% and 3.5%....Continue reading
Inflation squeezes those in debt even harder. September 5, 2018: Today, the Governor Stephen Poloz, released the Bank of Canada’s most recent decision on national interest rates. As expected, he indicated there would not be a rate increase at this time, even while inflation rates continue to hover at the outer edges of their comfort...Continue reading
20-year financial veteran Paul Murphy explains his system for building a realistic money management plan. If you’d like an expert to review your debt situation, you can contact your local 4 Pillars office here. After working in the finance industry for 20 years, there’s one truth that seems to be proven again and again: people...Continue reading
This past July, after seven years of leaving its key interest rate steady at near-historic lows, the Bank of Canada increased its overnight rate by 0.25 percentage points to 0.75 percent. In September, the bank raised it another quarter-point to 1.0 percent amid strong economic growth. While we’re unlikely to see another increase this year, they left...Continue reading
As Frank Sinatra had crooned, love and marriage go together like a horse and carriage. If finance were part of this picture, it would be driving the carriage. Disagreements over the management of household finances have long been known to be a source of major stress on a relationship and, not uncommonly, lead to divorce....Continue reading
From pre-natal preparations to preschool to post-secondary, raising a child in Canada is not for the financially faint of heart. The average annual cost for raising a child to the age of 18 has been estimated to be a cool $13,000 which, of course, will not necessarily decrease at that age if you plan to...Continue reading
20-year financial veteran Paul Murphy shows you why the Rule of 72 is the most powerful (and dangerous) personal finance rule to master. It’s the most powerful rule in all of personal finance. A simple formula that has helped geniuses like Warren Buffett turn millions into billions. And a powerful weapon that Canadians can either...Continue reading
