Personal Finance: New Year’s Resolutions

Personal Finance: New Year’s Resolutions

It is a smart and responsible idea to include personal finance in your New Year’s Resolutions this year. There are several ways you can improve your financial year if you follow these suggestions then perhaps your goals can lead to a small reward for yourself year-end.

1. Manage your spending. Buying items at 50% off is still spending money. Eliminate wasteful spending, cut back and have a system to call a friend if you want to purchase something over $100.00.

2. Grow your income. If you have $10 or $100 to save just start investing your savings and/or add extra dollars to your superannuation. Visit a financial planner once a year or once every two years—research or ask friends if they know a great financial planner. If you have someone teaching you the language and steps you need to take to secure your future, you are spending your time wisely.

3. Set financial goals. Not only is it important to set long and short-term goals and rewards it is also equally important to talk about them with friends and family. Discuss these goals with your financial advisor and ask for suggestions.

Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years. 

Shopping the Smart Way

Shopping the Smart WayShopping

Start organizing your budget and shopping list. Shopping Centres and Individual Shops are starting to package gifts, introduce gift with purchase and have flash sales. Retailers goals at this time is to convince you to not only shop for gifts for others but to also shop for yourself and buy little extras that add up to many extras.

DO NOT GIVE IN TO DISCOUNT ALLURE!

Here are 5 tips to shopping smart so you can live stress free!

1. Make a LIST of who you need to buy

2. BUDGET for each purchase. Consider tax in this individual budget.

3. WITHDRAW that amount from your bank account and PAY CASH FOR EVERYTHING

4. COMPARE prices for purchases online before you shop and shop smart

5. BUY yourself something small as a reward for managing to get through shopping and debt free!

Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. Thank you. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.

What Happens If I Lie To My Licensed Insolvency Trustee?

What Happens If I Lie To My Licensed Insolvency Trustee?

It is a statutory obligation for every person filing an assignment in bankruptcy to make full disclosure of all assets, liabilities, income and living expenses. As well, you must disclose information as to the disposal of any of your assets within the past 12 months (5 years if the asset is real estate). If you intentionally do not disclose significant information to your trustee, you will have your discharge from bankruptcy opposed by the trustee.

You might even be required to appear in court to explain why you did not disclose full and complete information. The court can impose penalties on you, depending on the significance of the non-disclosure. You should also be aware that you are asked under oath to swear that all of the information that you gave to the trustee is reasonable and accurate to the best of your knowledge and belief.

Swearing a false affidavit is called “perjury” and now you may be charged under the Criminal Code as well as under the Bankruptcy and Insolvency Act. Not a good situation to find yourself in when you are already stressed out over your debts.

Please read our blog entitled – How a Trustee Searches for Hidden Assets.

Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form.

To learn more please visit our YouTube  Channel. 

Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.  

We Want Your Debt & Financial Freedom Stories!

We Want Your Debt & Financial Freedom Stories!

Retired couple discussing their financial budget at home
Retired couple discussing financial freedom!

To submit a story go to www.rumanek.com/contact/submit-a-story/

Do you have a story that can help others with their finances? Did your financial decisions lead you to financial freedom? Join us in helping thousands of others attain the financial freedom they have always dreamed of. For over a decade now, Rumanek & Company Ltd. have received positive emails, letters and inspiring stories from people who said: Good Bye to Debt! and started living their financially abundant lives. Rumanek & Company Ltd. have now decided to share these positive financial stories in a 3 Volume Series: Financial Freedom-it Forward.

But they need your help!

This is a call for the opportunity to share your story, help and inspire others. This is your opportunity to share your positive financial stories. How did you get out of debt? What worked for you? What story can you share with others to help them make the right financial choices and steps towards freedom? Are you an RRSP expert? Did you make the right financial choices?

Email us your stories for the chance to be involved in this amazing process to help others attain financial freedom. Your story may be chosen for this 3 Volume Series and you will get the opportunity to: Financial Freedom-it Forward!

We will be accepting inspiring financial freedom stories for the next 3 months so share your story with us and don’t miss the opportunity to help others feel great about their finances. To submit a story go to www.rumanek.com/contact/submit-a-story/

Best Regards,

Rumanek & Company Ltd. – Trustees in Bankruptcy & Administrators of Proposals

To learn more please visit our YouTube channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.