By now most Canadians have opened their post-Christmas credit card bills and if you have not been of the majority to gasp in dismay, congratulations, you probably do not need this book. However, according to report released by CIBC in late December*, nearly half of Canadians are not on top of their bills, and less than a third say that paying down their debt is a top priority in 2017.
Christine Conway (CFP, CHA) hopes to help average Canadians alleviate their debt - and the anxiety that goes along with it - in her simply organized financial guide. She leads off relating how she and her husband struggled in their first jobs while living in metro Vancouver, one of the most expensive areas in which to live in Canada. Her claim is also simple – if she and her husband, making a living wage when they were starting out – could not only manage their debt but reduce it while living in Vancouver, well… anyone can, and that is a comforting thing to know. Using other average scenarios Conway illustrates both the cons and pros of debt, and explains the ins and outs of mortgages, retirement saving and most importantly, budgeting; budgeting that is simple enough to do in 15 minutes after a pay-cheque comes in, yet effective to use for debt management and reduction.
Does this leave room for big-ticket items like homes, vehicles and travel? Conway insists this depends on your own values, and her concise explanations and illustrative anecdotes leaves room for individuals to find clear paths to these too – yes, there may be sacrifices, she explains, but your goals are as unique as you are, and if well-defined there should be no obstacles in obtaining them. It all comes down, she contends, to your power to choose – and that is a powerful thing.
Find The Debt-Free Lifestyle in the Shelf Life 2017 list at http://spl.bibliocommons.com