Windsor Auto Title Loans Advice: Top Reasons Why Canadians Incur Debt - Instant Loans Canada

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Windsor Auto Title Loans Advice: Top Reasons Why Canadians Incur Debt

Jun 09, 2014

There are so many Canadians suffering from some form of debt than those who are not. In fact, the number is overwhelming in that in every 3 Canadians, 1 is likely to have debts. Aside from this statistics, almost all Canadians are exposed to one main factor for having a debt – owning a credit card. About half of the Canadians have more than one credit cards. And we all know that credit cards are one of the culprits of being trapped in a debt cycle. Aside from credit cards, there are other reasons for debts among Canadians. Let’s consider each of them below:

No Budget Plan

Aside from incurring credits, poor money management is another reason why Canadians suffer from debts. The best way to be financially stable is to learn how to track the money that comes in and goes out. You can do this by primarily preparing a budget and sticking with it. When you have a budget plan, it is more than likely you will spend lesser and save more. You will also become more responsible of every swipe you make through your credit card.

Legal Separation

Another reason why majority of the Canadians suffer from debt is divorce. When marriage ties start becoming sour, couples are forced to hire legal counsel, pay legal fees and spend on expensive settlements. Indeed, divorce is more than just an emotional problem. It is also a financial problem. So if possible, if you are see your marriage coming to the brink of extinction, always try to resolve it primarily by learning to compromise. Resorting to a legal process should be your last resort as it is a very costly process.

Medical Bills

Oftentimes, medical bills just pile up out of our control. It is then very important for every Canadian to prepare enough cash in cases of medical emergency. As an alternative to cash, a good medical insurance coverage can be very helpful. There comes a time though wherein even your medical insurance cannot cover all your medical expense. You are left with nothing else but financial aids because you also have not saved the right amount of extra cash. It is when this happens that you will find Windsor auto title loans extremely helpful. Windsor auto title loans can cushion all your medical bills during the summer season or even during the year round.