Changes
→What do I put in my budget?
The next step is to work out your budget. Your budget lists how much money is coming into your household and how much you need to spend.
'''Income: ''' List all the income for your household. Make sure that the amounts are realistic. Include all of your current sources of income:
:*wages,:*disability assistance,:*social assistance,:*a family member’s or partner’s income,:*gifts,:*child tax credits / benefits,:*pensions and old age security,:*GST refunds.
'''Expenses: ''' The next thing you need to do is list all your expenses. Make sure that the amounts are realistic.
Figure out all of your expenses on a weekly, monthly, or seasonal basis. Make sure you remember to include personal expenses, such as loans, restaurant meals or gym memberships, and household expenses,such as rent, groceries, cable, and utilities. When you make a list of your expenses, think about whether you may be able to make any cutbacks. If you can make cutbacks, this will make more money available for you to pay back your debts. When you have listed all your income and expenses, add up the figures and see if you have any money to spare to pay your creditors.
If you have any money to spare, decide which debts are the most urgent ones, and which debts are less urgent. Pay off the most urgent debts right away. Then make a plan for how you are going to pay the less urgent debts.
You may wish to contact the Credit Counselling Counseling Society for help in developing your plan to pay off the debts. You may also wish to write a letter to your creditors that explains what you have decided. ''What can the Credit Counselling Society do to help me?'' You can contact the Credit Counselling Society online at [http://www.nomoredebts.org www.nomoredebts.org]. They will look at your finances with you, and suggest options. You can call them toll free at 1.888.527.8999. The Credit Counselling Society may be able to help you get into a debt repayment program to help you pay off your debt.
''What can the Credit Counseling Society do to help me?''
You can contact the Credit Counseling Society online at [http://www.nomoredebts.org www.nomoredebts.org]. They will look at your finances with you, and suggest options. You can call them toll free at 1.888.527.8999.The Credit Counseling Society may be able to help you get into a debt repayment program to help you pay off your debt.
==''How do I contact my creditors and what do I say?''==