The third step to end your debts
Establish an action plan
Have you defined your financial and personal goals? You know exactly where you want to go?
From this essential base, you now need to establish an action plan to reach your goals. This is where our advisors come in and ensure that your plan is feasible and especially adapted to your current financial situation.
First, get off to a good start!
Before considering your medium and long-term goals, consider your goals in the short term. These should not be too ambitious because you may then give up or get discouraged quickly. If your month ends are currently difficult and your debt ratio is important, the objectives and actions implemented will be aimed primarily at returning to a balanced budget. By paying off your creditors, you will end their incessant phone calls and gain peace of mind! Living in correct conditions, without anxiety the next day, is already a great challenge!
A budget reorganization, avoiding unnecessary expenses, can sometimes be enough to achieve a balance. Other solutions also exist if your situation is more critical: negotiation with creditors, consolidation of loan, voluntary deposit, consumer proposal or even bankruptcy. Our advisors will guide you to the most appropriate solution for your current financial situation so that you can make a fresh start.
Then put money aside
Once your budget is balanced, in order to achieve your medium and long-term goals, you need to adopt an investment strategy. If you want to save for an unforeseen expense, turn to secure investments that leave your money available at all times, but which, in return, have a low return, such as bonds. On the contrary, if you are already thinking about your old age, you will opt for a high-yield but blocked investment type registered retirement savings plan. There is a wide range of available investments and our advisors, through their knowledge of management and finance, will be able to offer you an effective personalized strategy.