By Ajay Oberoi
From the recent studies, it has been identified that most of the people get into debt after the Christmas vacation. That’s mainly because they don’t pay special attention towards their finances when enjoying the holiday season. Hence, they have to experience a variety of negative consequences in the month of January. To overcome such consequences, you should have a clear understanding on how to recover from Christmas debt. Here are 4 useful tips that you can follow to overcome your debts.
- Return all stuff that you didn’t use
During the Christmas season, we do shop and purchase a lot of items. But you only use a handful number of items out of them. After the Christmas, you can take a walk around your home and see how many items you have used out of the items that were purchased while you were engaged with Christmas shopping.
The worst thing about Christmas shopping is that we rarely pay attention towards the value of the products when purchasing them. As a result, we run into financial difficulties after Christmas. This can be used to get rid of Christmas debt as well. All you have to do is to gather all the unused items and return them. When you do it, you will figure out that there is a possibility for you to save a considerable amount of money.
It doesn’t matter whether you made the original payment with your credit card or with cash. The refund that you get will provide you with an excellent financial assistance, especially when you are trying to overcome Christmas debt. The vendors will not hesitate when purchasing these items as well, because they will still be able to sell them and get a decent profit.
- Combine all your balances
One of the biggest challenges that people face after the Christmas season is to settle their credit card debts. We often use multiple credit cards. Calculating how much credit we have to pay in every single card can bring us a lot of headache as well. However, you can think about combining all the credit card balances to make your life easy. This can provide an excellent assistance to you when settling the debts. When you make such debt payments, you will also get a secure feeling at the end of the month.
You can take a look at the available options and figure out a way on how to combine the balances on your credit cards. Then you will be able to figure out what your true expenses are. You can also shop around for some low interest balance transfer cards available in the market. They are in a position to provide a great help to you, when you are following a plan to overcome Christmas debt.
- Keep an eye on the debt recovery process
When you settle your debt, you should also keep an eye on the debt recovery process. In fact, you are encouraged to create milestones along with your payment plan. Then you will be able to focus only on one milestone at a time. This will help you to make sure that you don’t face any issues or unwanted stress by taking a look at the big picture. You just focus on the milestones and they are in a position to provide an excellent assistance to you with recovering your debts.
Depending on the total debt amount, you can give a gold star on the calendar to signify each milestone. Then you can work accordingly to achieve the milestone in a timely manner. It is also better if you can make other people a part of this progress. You can work along with your friends and family members, who face a similar situation to overcome the Christmas debts. Then you will be able to share some of the money saving ideas and stay motivated. You can also share your experiences with them.
When you are working according to such a plan, you will be able to overcome the pain of paying Christmas debt. Hence, you can enjoy the maximum Christmas joy as well.
- Get in touch with the creditors
Most of the people who try to overcome their Christmas debts forget this step. But it is one of the most important steps, which you need to follow to end up with positive results in overcoming Christmas debt. You will be able to discuss with your creditors and negotiate on a convenient plan on how to settle your debts. Then you will be able to settle the debts while creating the least impact on your credit history as well. Moreover, you will not get any stress while you follow such a plan to settle all your Christmas debts.
All the credit card companies are looking forward to getting their money at the end of the day. Therefore, you can assure that you will be able to help the company get back their money and you can craft a plan on how to do it. If you can get their involvement, you can come up with a plan, where both parties are happy. Then you will be able to stick to that plan and make sure that you don’t run into any financial difficulties when trying to settle your debts. You should also focus on your debts that are tagged with a higher interest rate. Settling them within a short period of time can provide relief to you with debt recovery. In case of you have credit or debt issues visit www.gtacredit.com or call 416 650 1100
Doing your taxes is now easier than ever
(NC) Life can be complicated but doing your taxes shouldn’t be. Whether this is your first time filing a return or your circumstances have recently changed, there is information and free help available to put your mind at ease. Here’s what you need to know for this year.
Not sure if you need to do your taxes? Even if you didn’t have any income in 2018 or your income is tax exempt, you should still file a tax return. Doing your taxes gives you access to important benefit and credit payments, like the goods and services tax/harmonized sales tax (GST/HST) credit, the Guaranteed Income Supplement, the Canada child benefit and any related provincial or territorial payments.
How do you complete your return? Most people choose to file online since it’s fast, easy and secure, and it often means you’ll get your refund sooner. There is even free tax software available that does most of the hard work for you. If you prefer to do your taxes on paper, you can download the forms online or order them by phone. Limited quantities of tax packages will also be available at Canada Post, Service Canada and some Caisse populaire Desjardins locations. If you filed by paper last year, the Canada Revenue Agency will send you a paper tax package by mail – you should receive it by February 11.
Need help doing your taxes? If you have a modest income and simple tax situation, volunteers from the Community Volunteer Income Tax Program may be able to do your taxes for free. There are free tax preparation clinics all over Canada. If you live in Quebec, you can get help through the Income Tax Assistance Volunteer Program, offered in partnership with Revenu Quebec.
What if you don’t have access to a bank account? If you don’t have access to a bank account, you can choose to have your refunds or benefit and credit payments mailed to you. Make sure you keep your address up to date so that you continue to receive your payments on time.
What if you don’t have a permanent address? If you don’t have a permanent address and you are staying with a friend, family member or at a shelter, you can use that address when you fill out your tax return and your payments can be mailed there. You can also sign up for direct deposit so that you get your tax refund and benefit payments deposited directly into your bank account.
Find more information at canada.ca/taxes-get-ready.
Stay Motivated and Achieve Your Goals with These 5 Tricks
(NC) We all have our mountains to
climb – just ask Lisa Thompson, the second American woman to climb Pakistan’s
wildly dangerous K2 Mountain. At 8,611 meters above sea level, the
summit is one of the world’s most difficult to climb. In fact, it’s estimated
that one in four people who attempt the climb do not survive.
Thompson faces hurdles at low altitudes, too. Between everyday challenges and unexpected hurdles, modern life can be stressful. That’s why Lisa, a breast-cancer survivor, dedicated dog mom and former biomedical engineer is sharing her top tips for reaching new heights and conquering life’s obstacles.
- Create a plan and prioritize goals. Setting and prioritizing goals will help you better navigate through busy, everyday life. Keep two lists on the fridge to break up short and long-term goals. The action items on these lists can range anywhere from “buy new sneakers” to “inspire my sister to join me on a climb this year.”
- Draw motivation from others. Align yourself with like-minded people who have already tackled the goals you’re working toward. These people empower you to jump higher, run faster and do more.
- Let go of the history that is holding you back. You’ll never propel forward if you’re stuck in the past. Staying present-minded is key. Try using a meditation app to stay on track. Some apps that work well include Headspace, Calm, or Mindfulness Daily, which are all available on iTunes.
- Have fun in the process. Be kind to yourself, take breaks and find the humour in those moments of unbearable frustration. You’ll have fonder memories if you do.
- Prioritize physical health. Both mind and body are important when it comes to achieving new feats. You can’t reach new heights when your body feels crummy. I’m a long-term sufferer of dry eye, which can affect my vision. To ensure my senses remain at 100 per cent, I count on Systane Complete lubricant eye drops, the first all-in-one drop for all types of dry eye. The solution keeps eyes hydrated and protected, so I can focus on the things that matter most. Being able to see clearly is paramount to my success, for not only big expeditions like K2, but also the day-to-day mountains we all have to overcome.”
