Dealing with debt – Tips and tools to help you manage your debt

Money and how we spend it can be an emotionally charged subject especially when it comes to debt. Simply discussing finances can be a struggle but talking about debt is riddled with even more challenges, including stress, shame, and worry. Credit card debt and mortgage debt is commonplace today and yet it can result in unmanageable financial burdens.

What’s important to understand is that if credit can be managed well, it remains a useful money management tool, not a source of stress. Being able to reduce debt and not rely on credit to pay for everyday expenses is a necessary part of achieving financial well-being.

 

Our new booklet, Dealing with debt -Tips and tools to help you manage your debt, provides a series of seven worksheets to help your clients manage their debt and offers tips on how to reduce it. The worksheets can help them identify money priorities, calculate what they owe and strategize how they can pay down debt. Dealing with debt also provides information about reviewing credit scores and credit reports. The worksheets can be completed in sequence, or in the order that works best for the individual. Copy pages that you think you may need to use more than once, such as the budgeting sheet or debt action plan. 

 

Similar to our Managing your money series, we recommend that clients use the Dealing with debt worksheets in partnership with a trusted financial coach or credit counsellor if possible or complete individually on their own if preferred.  

We are pleased to have collaborated with our partners at Credit Counselling Sudbury to develop this content.  

 

Free individual worksheets are available for download on our Learning Hub.

 

Printed copies of Dealing with debt can be purchased for $150 per box of 50, plus shipping.  

 

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