Victoria Bankruptcy - PDSC Trustee Site

2014-06-23 20:55:35

Should You Buy It?

Once you declare bankruptcy you are obligated to attend mandatory counselling; a program implemented by the OSB in 1992 to decrease the number of repeat bankruptcy filings and help rehabilitate bankrupts. The counselling will try and help you identify practices that contributed to your debt problems and develop strategies for coping with your finances in the future.

However, once you are discharged and no longer have access to these services, it is up to you to stay on track.  The Internet has a wealth of financial advice and tips for managing your money.  The Globe and Mail recently compiled a list of Canada’s best financial bloggers who have tips ranging from the simple things like budgeting, to the more complex like which investments to chose.

One way many of us lose control of our finances is buying things we shouldn't.  Below is a quick flow chart from one of the contributors on the best blogs list that helps you decide whether you should buy something.  You can print it out and put it on your fridge or above your desk to remind yourself to think before making a purchase.

 

Should You Buy It? Flowchart