Blog & News

April 17, 2013

Is anything really free on the Internet?

My view – Jan Zacharias

Most of the sites that you see advertised in Canada promote play on Internet sites where you can gamble for fun and learn how to play a variety of games.

These sites offer free tutorials on a variety of games and talk about teaching poker strategy. They help potential players understand a variety of poker terms such as the blind, the flop, or a button.

April 10, 2013

Internet Gambling

Is it worth the risk?

My View – By Jan Zacharias

Turn on the TV these days and it would be unusual not to run into either a channel completely devoted to poker tournaments or a sports network carrying a poker tournament. These shows feature celebrities wearing the required garb that usually consists of hats, hoodies or dark glasses.

April 3, 2013

I have been asked to answer the following questions regarding the recent implementation of the new BC Family Law Act.

March 27, 2013

We received some good news – good financial news for a change, today. As reported in today’s Vancouver Sun, “British Columbia has become the first province in Canada to create legislation for group pension plans,” for the vast majority of people who do not work for the public sector or a large corporation. According to the report, this opens the door to two-thirds of residents.

March 21, 2013

Here we go again. The Bank of Montreal reduced its five-year, fixed mortgage rate by 0.10 points to 2.99 per cent March 5th which has triggered heated debate about the housing market.

Economics is not a precise science. A room full of economists would rarely achieve consensus on what is happening in the economy or what to do to fix it. So, it is important for us non-experts to try and get a complete picture before jumping to any conclusions.

March 6, 2013

Are you suffering from debt creep? Never heard of it?

Most people have heard of bracket creep, an economic term that refers to a situation where inflation pushes income into higher tax brackets. The result is an increase in income taxes but no increase in real purchasing power.

A similar principle applies to debt creep, (a term I use) that refers to how debt keeps going up once you start using it.

February 12, 2013

Today, the TD bank cast a dark shadowy prediction for the future. Jobless youth will cost the Canadian economy $23 billion over the next two decades.

Martin Schwerdtfeger, an economist, reported in the Vancouver Sun that the loss of tens of thousands of youth jobs after the 2008-09 financial crisis will impact the Canadian economy for up to two decades.

This obstacle for the young stands on top of the shoulders of a mountain of student loan debt necessary for many to finance post secondary education, which may not help secure a well-paying job. The crunch – they need the education to get a job interview.

January 28, 2013

Equifax has just reported that Canadians are paying off their debts faster.

We see a very different picture at our licensed credit counselling agency, Solutions Credit Counselling Service Inc. Our client intake is up 20% over last year.

The income to debt ratio reached an all time high in October 2012 as reported by Stats Canada at 163.4 percent. This finding suggested a greater dependency on credit rather than a lesser one.

Struggling to make only your minimum payments, or not being able to make any payments and having your debt in collections can add a lot of stress to your life. This situation can lead to nasty calls from your creditors and even garnishment of your wages if they sue you.

The debt is not going to go away on its own and could take a lifetime to pay off at this rate unless you file for Bankruptcy. However, there is another solution that could see you paying off your debts within five years or less- it’s called a Debt Management Program, or DMP, which you can create through a Licensed and reputable Credit Counselling Agency such as Solutions Credit Counselling.