Posted On: August 16, 2019

Having a traditional 9-5 job is great. It will give you regular pay, that means having a steady income you can rely on to meet all your basic needs. But what about if you have a heavy debt load and need to pay off those debts? Your regular pay won’t be enough. You’ll need to look for ways you can make extra money and meet those extra needs so you can get out of debt quickly.

Making extra money is the best way to increase your income. Of course, you will need to cut your spending back. However, that can only get you so far. A lucrative side hustle can bring in much needed cash flow that you can use to put toward paying off your debt.

Here are some great ways to bring in more cash every month which you can all do in your spare time.

Sell items online

Selling stuff online is one of the surest ways you can make extra money. If you’re getting rid of any of your used items, such as household appliances, furniture, used books, collectibles, or pretty much anything you’re not using, you can try selling them on Kijiji, Craigslist and Ebay. All you need to do is list the items for sale and you can start selling right away and earn some extra bucks quickly. If you specialize in some craft or hobby, like knitting, painting and jewelry making, a great place to sell this is on Etsy. If you’ve got a really good product,  Amazon would be a great place to sell your stuff. You can even make the leap into entrepreneurship, start small and then slowly but surely build your brand and expand your business, who knows maybe one day you can build your own online store where you can sell all your products. If you don’t have your own product to sell, you may want to look into dropshipping as an option.  You  can also sell for others as an affiliate and collect a commission for each sale you make.

If you don’t want to create listings and ship items and pay a service fee for using these sites, there are many neat apps nowadays that make selling items online a much quicker and much easier process. There’s Let Go, where you can sell anything from smartphones to shoes. Poshmark is a luxury fashion app where you can sell your high-end handbags, shoes, clothes and accessories. 5Miles is an app that is much more location specific, so you can put up local classified ads and yard sales online and sell your stuff to buyers that are within five miles of your location.

Drive on your spare time

Why not drive for Uber or Lyft on your spare time? It’s another popular way for making money nowadays. Thanks to the boom of the sharing economy more passengers are in need of rides and Uber and Lyft drivers are sought-after by employers. The great thing is, they have this very neat feature where you can turn on and off your availability on their networks by just clicking a button on your phone, so in effect you can set your own schedule, run it as your own side business, and make good money in the process.

Rent your home or a spare room on Airbnb

If you are willing to rent out a spare room or even your entire home to travelers for a short period of time, AirBnB can be a great resource for you to make extra money. Just create an account and list your space or home for free and you can decide your own schedule, when your home or room is available, and also have full control of prices and requirements for guests. When your listing goes live, guests can start to contact you and you can communicate with them through chat message or any means you’re comfortable with. You get paid 24 hours after a guest checks in. Some people have managed to make this a very lucrative sideline for them that it has become their primary source of income source.

By earning extra money you can earn a respectable amount of cash that’s going to supplement your income and help you to get out of your debt plan as soon as possible.  It’s not hard to find opportunities at all as nowadays there are many ways you can make extra money and earn a few extra bucks to pay off your debt. All you really need to do is make the decision and commit yourself to it.

Posted On: August 13, 2019

When it comes to managing debt, do credit rating reports help?

There is a simple way to avoid taking on personal debt: never take out a loan without first knowing its purpose, the long-term goals and benefits it will achieve, and the plan to pay it back. Simply put, use credit with good judgment ideally to profit from your borrowing. But as we all know, we often borrow without considering the consequences, and then we find that our debts pile up quickly, resulting in an overall negative impact on our financial position.

Look before you leap

The best way to know how to control debt is to look before we leap. We need to ask ourselves if the credit is necessary, what it will involve, is there a better way to get what we want without incurring this debt and how fast will we be able to get rid of it. Also, it’s good to know where we stand with our creditors. If we know exactly who we owe, we can figure out how much we owe, either as a pay-out figure or as an amount to be repaid over time. If we’re not sure who we owe we can also pull our credit report from each of the two national credit bureaus in Canada: Equifax Canada and TransUnion Canada. If we just need to see what debts we have and how much we owe, looking at our credit reports is a great place to start, though it probably won’t be able to provide current amounts owing.

These credit bureaus are companies who carry a file on each of us which was opened the first time we applied for a credit card and it contains all our financial information, at least where our credit is concerned. This information is usually supplied by the credit companies with which we do business. When we request a report, it will give a fairly detailed summary of our individual credit history including key information on all our financing transactions like our credit card balances, outstanding mortgage, auto or student loans. It will also note any negative events like a default collection record, bankruptcy or consumer proposal filings, or any other court-related event like a judgment or garnishee, tax liens and even promissory note defaults from personal loans, even from friends and family if they are reported. The credit bureau report will also provide past creditor information that we may have forgotten about because a lot of time has elapsed since we last paid them.

Ideally, obtaining a report from both credit reporting agencies is a good idea because there is no guarantee that they will both have the same information. But before requesting a report, it’s important to know a few things about how this system works and that our rights are protected. In Ontario, the credit bureaus are regulated by the provincial government through the Consumer Reporting Act. This law lays out:

● what a consumer reporting agency can report,
● how a consumer’s credit report can be used,
● when someone can request a credit report, and
● what consumers can do if their files contain any information that is wrong or incomplete.

The Consumer Reporting Act also recognizes that businesses, landlords and employers need to have correct information, but at the same time it must ensure:

● that agencies collect, maintain and report our credit and personal information responsibly;
● our right to know what is being reported about us and to whom; and
● our right to correct (or fix) information about ourselves that is inaccurate.

When we receive our report, we will see a score — a number on a scale — that indicates whether we are in good stead with our creditors or whether we have some adjustments to make to improve our score. Basically, every transaction we make, every application we file and every legal action we get involved with ends up on our file for others to see, and those actions are taken into account when determining our score. While on the surface, this process may seem daunting, but in fact it’s empowering. Not only can we ensure that our information is true and accurate, we can also use the knowledge to improve how we manage our debt, which is good news.

Richard Killen, Licensed Insolvency Trustee and author of the new eBook The Glass is Half Full which is now available to be downloaded for free from iBooks, Amazon, Indigo and Kindle. Richard Killen & Associates, with offices conveniently located across the GTA, have been helping Canadians resolve their debt issues since 1992.

Posted On: July 5, 2019

We’re now just getting into the start of summer and hot, humid summer days are coming. With the rising temperatures comes an increase in water use for most Canadian households, which in turn means a spike in your monthly water bill. So we thought we’d take this time to share some ways to save water at home this summer so you don’t get punched in the wallet with a huge water bill.

Many households experience a dramatic increase in water usage during the summer. Maybe it’s because we take more showers to avoid getting sweaty and smelly. And yes, also the lawn sprinkling, garden watering, car washing, and other yard and garden activities where we use a lot of water.  Of course, when we use more water we can expect to see our water bill go up. Now, for a homeowner with lots of debt to pay off and a very tight household budget to manage, a huge spike in your water bill is the last thing you want to see. You have to save money in the budget wherever you can, and reducing water usage, especially during the summer months when you use up more than usual can go a long way in helping to save money on bills.

These tips will greatly help save water usage at home this summer.

Let’s start  indoors.

Repair water leaks

The City of Toronto has confirmed to residents that leaky faucets or toilets attribute to higher bills. It is best, therefore, to regularly check if you have any water leak issues in your house that you need to attend to and fast so you don’t waste thousands of litres of water and end up with a massive water bill.

You can do DIY repair on many water leak issues in the home. If you have faucets that are leaking, all you have to do is replace worn-out washers. To check if you have leaky toilets, just do the toilet test.  Put a few drops of food coloring in your toilet tank or drop a dye tablet into the toilet tank and lightly stir it. After a few minutes, if the water in your bowl turns color, then your toilet is leaking. You can fix this yourself by replacing with an inexpensive rubber flapper. However, if the toilet is leaking around the base, you will need some professional help to fix this.

Adjust the flow

An easy fix that will save you money and reduce your water use is to regulate the amount of water flowing out of the tap. One effective way is to install low-flow faucet aerators in your kitchen or bathroom sinks.  Aerators are inexpensive devices and they can reduce water flow by 25 to 50 per cent. Another way that can save you much in water costs is to use low-flow showerheads, which can reduce water use by about half the amount of water as with a standard flow rate shower head.

Retrofit your toilet

About 30% of water use in the home is caused by toilet flushing. Now, if you really think about it, you don’t need that much to cleanly flush your toilet. A full-flush toilet uses about 18 litres of water per flush, but if you use a low-flow toilet, you can lower water use to just six litres per flush.

Before buying a new toilet, check first if you already have a low flow toilet. Look between the seat and tank for a flush volume stamp. You might find this on the walls of the tank or on the lid itself. There might also be a date stamp inside the tank. If you see a “1.6 gpf or 1.28 gpf,” your toilet is already a low-flow model. If you can’t afford to buy a new toilet just yet, you can simply buy a $10 water retention, displacement or alternative flushing device which you can find at  most hardware stores to reduce the water flow of your current toilet.

Now, let’s go outside your home.

Outdoor water use during the summer months can spike consumption by as much as 50%. So, here’s what you can do to save water at home this summer when you are out on your garden or yard.

Garden smarter

One easy tip to follow is to water your lawn at night or early in the morning, ideally before 9:00 am. This way you avoid the heat of the day and reduce evaporation, allowing water to properly sink into the ground. Also, avoid overwatering. Generally, lawns need only about 2.5 cm of water every week. If you have a sprinkler system, you can plan a watering schedule by setting up the timer and making sure that the water comes on at the exact time you’ve scheduled it, and that it does turn off accordingly so that you avoid wasting water on your yard.

Deep watering

Another simple way to help reduce evaporation and thus use less water is to set your lawnmower to maximum height. This way when you cut the grass you leave it just a little taller so that it shades the soil and prevents water to evaporate giving time for the water to soak below the soil surface. The deep watering method lets you use less water because you only need to deep water once a week while at the same time you ensure that water gets to the roots of plants and trees.

Landscape using native and drought-resistant plants

Another advise that the City of Toronto would like residents to follow is to plant native plants and trees in your garden or yard. Common plants and trees like Sugar maple, Red maple, Canada anemone, Cinnamon fern, Lowbush blueberry, Balsam firs, Manzanitas, Black-eyed susan, Red osier dogwood are low maintenance and naturally drought-tolerant which means they will need less water to thrive in the local environment. Not only that, they’ll also help give shade, privacy, color to your property and will help keep your home and yard cooler in the summer – which will help lower your air conditioning costs, too! 😉

It’s really worth it to make the effort to save water at home especially during the summertime because it’s one of the best ways you can save money on your utility bills. It may not seem like a lot of money to save each month, but if you can maintain regular savings in this way every month it can add up significantly over the course of a year.

Posted On: July 2, 2019

The summer season is upon Canada and everyone’s excited for warm weather. Time to plan out some things to do in Toronto to enjoy the amazingly warm temperature of the Summer months.

Summer is one of the best times of the year in Toronto. Lots of delightful events and activities to lure us to go outside and see the wonderful sights and sounds of the city once again – music festivals, street fairs and parties, flea markets, food and drink events and nature trips.

Let’s go find them…

Capture the beauty of the cherry blossoms in High Park Toronto

First off, let’s celebrate the arrival of the Spring season with a visit to High Park and view the magnificent cherry blossoms on the Sakura trees along the hillside of Grenadier Pond. The cherry blossoms usually reach their peak bloom days in late April or early May, so it’s the best time to see them in all their full pink glory. It’s one of the most popular spring events in the city, so make sure you don’t miss this spectacular blooming experience – it’s totally free!

2019 Spring flower show

If you can’t wait for the cherry blossoms to be in full bloom, you can enjoy  the colourful display of fresh spring flowers at the annual Spring & Easter Flower Show held at Allan Gardens Conservatory & Centennial Park Conservatory which will take place until May 10, 2019.These gorgeous gardens and greenhouses are full of all kinds of flowers that are already blooming – daffodils, tulips, hyacinths, fragrant Easter lilies and hydrangeas! There are also a variety of trees, palms and plants from many climates and parts of the world. You won’t miss the coy ponds and the birds, too! A walk through these gardens will surely give you 30 minutes of natural therapy in a colourful and tranquil oasis right in the heart of the city — all for free!

Get back to Mother Nature

Another great way to come out of hibernation and enjoy a great day outdoors is to go walking and hiking at one of the city’s many hike-friendly parks. A great spot is the Humber Arboretum, a 250 acre parkland full of botanical gardens and nature trails for the whole family to enjoy.

The Evergreen Brick Works is another gorgeous place to go hiking in the middle of the city. What it has are tons of hiking trails, mountain biking trails and quiet streams where you’ll enjoy beautiful skyline views and nature walks. Don’t miss the Saturday farmers markets for wonderful local produce and other organic, fresh food items.

Go birdwatching or fishing at the Tommy Thompson Park

Birds have long been known to signal the arrival of Spring and many celebrate by heading to the Tommy Thompson Parks for the annual Spring Bird Festival which will take place on May 11, 2019 in line with International Migratory Bird Day. Tommy Thompson Park is one of the city’s largest green spaces and is a prime hotspot for different types of migratory birds, such as the Baltimore Oriole, Ring-billed Gulls, Black-crowned Night Herons and the Common Terns. You will surely enjoy watching the colorful birds swooping and diving and delight in their sweet chittering sounds as they rest on the branches of trees. It’s a unique urban wilderness full of natural areas such as wildflower meadows, cottonwood forests, coastal marshes, cobble beaches and sand dunes, and of course, the birds, butterflies and fishes! It’s just minutes from downtown so make sure to plan a quick getaway from the hustle and bustle of noisy Toronto.

Cheer on the Jays

The beginning of Spring is also the start of the Blue Jays season. If you love baseball, then of course you won’t want to miss out on the chance to cheer for our home team the Toronto Blue Jays. They promise an exciting season, with 4 home games at the start of April to kick off the season and more throughout the month. You can grab tickets and watch them under the dome at the Rogers Centre or cheer them on with a group of friends at some of Toronto’s best sports bar – there’s Toronto Style Bar & Grill which has some outdoor seating,  The Dock Ellis is another good spot to watch sports and enjoy some tasty decently priced food items, and Homestand is Toronto’s newest sports bar and has all sorts of Jays-related events to hype up sports enthusiasts.

Spring festivals galore

Another perfect Spring adventure that’s not to be missed are the Spring festivals.

Kick it off with the exciting outdoor street festival ‘Spring Into Parkdale’ which is taking place on May 12, 2019. It’s an annual event which features a sidewalk sale with tons of outdoor vendors selling food, plants, cell phone cases and many, many more! Plus, there will be live entertainment and free family-friendly activities.

Art festival in Toronto’s Distillery District

The annual Artfest Toronto takes place this year from May 19th to 21st. Local artists from across Ontario, Quebec and other cities and provinces will be exhibiting their amazing art and craft at the beautiful Distillery District. Drop the kids at the Artfest Kids pavilion for a free art workshop while you explore the array of paintings, photography, sculpture, pottery, glass art, jewellery, designer clothing and more. Admission is free, so go and immerse in some fine art!

6th annual film festival

Who would want to miss the largest film festival ever? The annual National Canadian Film Day (NCFD) returns on April 19. This year marks an exciting milestone – the centennial year of Canada’s first blockbuster film,  its most successful silent film todate, and its oldest surviving feature film – Back to God’s Country starred by Canadian film actress Nell Shipman. In commemoration of this, the festival will host a selection of films celebrating 100 years of Canadian cinema. So, for the film buffs out there — check the NCFD website and book a screening!

We’re sure you won’t run out of things to do in Toronto this Spring, you probably won’t even have enough time to do all the things that are out there to explore. The best thing is, you won’t really need to open your wallet to have fun and enjoy. Some events and activities are cheap and will cost you just a few dollars but, believe it or not, there’s plenty of free things to do as well!

Posted On: January 25, 2019

Toronto is an exciting place during the winter and with these 8 cheap and free things to do you’ll definitely be in the mood to go out and enjoy all the not-to-be-missed experiences. If you’re tightening your budget after all the holiday spending, don’t worry. There are plenty of free and cheap things to do in Toronto in the winter.

From DJ skate nights to light festivals, there’s a long list of activities and events happening all over the city — we’re sure you’ll find something unique to do to lift your spirits and shake off the winter blues.

Toronto Winter Light Festival

The annual Toronto Light Festival lights up the long gloomy nights of winter from January 28 to March 3, 2019. This free event takes place again this year in the Historic Distillery District with local and international artists putting on a magical display of illuminated artworks and large-scale installations that will surely be a sight to behold.

Icefest

Another winter favourite, Icefest is a cultural event held every year to celebrate the winter season. Now in its 14th year,  the event showcases tons of ice-related festivities for the entire family to enjoy —  incredible ice sculptures, live ice carving demonstrations, ice exhibitions, photo booths, live DJ’s, scavenger hunts, warm food and hot beverages! All activities take place in the heart of the city at Bloor-Yorkville from February 9th to February 10th and admission is free for all ages. Icefest is also a charitable as it continues to raise funds for the Heart and Stroke Foundation in support of Heart Month in February. Everyone’s sure to have so much fun and its all for a good cause!

Go Ice Skating at the Bentway Skate Trail

Ice skating is a favourite winter activity, and if you’re one of those who loves to ice skate the figure-eight shaped Bentway Skate Trail located under the Gardiner Expressway is definitely a must-visit. The Bentway is open for the winter season until Feb. 18, 2019, and admission is free for all ages. If you don’t have skates, you can take advantage of the free skate rentals on Thursday nights from 5pm to 9pm. If you don’t know how to skate and are dying to learn, then make sure you check out the free drop-in skating lessons from 6pm to 8pm every Thursday until February 14. There’s also an event presented by Kahlúa for adults 19+, Après Skate Saturdays, where you can meet up with other skaters and enjoy complimentary samples with coffee or hot chocolate from 5pm – 9pm. If you don’t want to skate, you can take advantage of the snuggly blankets, warming lounges and fire pits all around the place and just warm up from the cold for a few hours. That’s lots of free stuff at the Bentway, don’t you think?!

Party at Toronto’s DJ Skate Nights

If you’re in the mood for an outdoor party – the kind with really loud music and a crowd of people, then lace up your skates and get into the groove at  Natrel Rink, Harbourfront Centre for DJ Skate Nights every Saturday from 8pm to 11pm until February 20. A stellar lineup of local and international DJs play lively beats of disco, hip-hop and techno so you can dance and skate the night away and beat the winter blues. The best thing of all, this nighttime winter party on ice is totally free!

Learn Something at Your Local Toronto Public Library

Reading is a relaxing pastime for many of us and if you’re in the mood to snuggle in a warm, cozy spot with a good book, you can enjoy a few bestsellers at a Toronto Public Library near you. But that’s not all that you can do in your local library! You can borrow the latest books and DVD’s, yes, plus you also have access to a variety of newspapers and magazines from different countries all across the world, so you don’t have to pay for a subscription just to keep up with current events. Then there are free classes you can attend to help you hone some skills, you can learn crafts and hobbies, workshops and livelihood projects and skills to help you look for a job and ace a job interview. There are also seminars where you can get the latest information on web design, web technology, health and employment. They also hold free concerts and exhibitions from time to time so make sure to check back regularly. What’s more, you also get free passes to museums, music, theatre, film and art events all year round with your Toronto Public Library card. So take advantage of these free resources and services!

See Frozen Waterfalls

Waterfall viewing is a winter must do in Toronto because these cascading beauties are transformed into a frozen landscape of intricate ice formations in the winter. There are hundreds of waterfalls scattered within Toronto and the surrounding area and most locations offer free parking and are only a short walk to the viewing platform. Just pack a picnic lunch so you save up on take out. Whether the flow is completely frozen or just a gentle trickle surrounded by snow and ice, there’s just an added dimension of beauty to these wonders that you can’t miss out on.

Tobogganing Fun

Tobogganing is one of the most fun free things to do all winter season. Just grab your toboggan or sled and head to a snowy hill near your neighbourhood and start sliding down the snow-covered slopes. Squeal with delight all you can and just have fun in the snow!

Winterfolk Music Festival 2019

The Winterfolk Music Festival is back for another year taking over Broadview and Danforth from February 22 to 24. You can listen to blues, folk and urban roots music from over 150 artists set on five different venues. There are both free and paid events, but you can get tickets for some of the paid events at just $10 if you buy in advance. A great bargain is the three-day weekend pass which cost only $15 and you can watch all the stages lined up except for the  five ticketed shows. So, don’t miss out on enjoying some great music to sing away the winter blues.

There’are tons of amazing free and cheap things to do in Toronto in the winter. So, explore your city every chance you get this season because you surely won’t need to stay in to save with these activities that won’t break the bank!

Posted On: January 23, 2019

You’re short on cash, its winter and are wondering what indoor or outdoor activities you can do with the kids for free or nearly free in Toronto. We love having our kids home for winter break. School is out, and they are at home most days with a lot of free time. Some parents like to go on vacation from work and spend time with their children. However, parents often wonder what they can do to keep the kids busy. Luckily for us Torontonians, there are lots of great ways to entertain kids in Toronto winter for free — and well,  maybe almost free.

The chilly weather may want you to stay inside more than you would like to. That’s no problem at all because there are many indoor activities throughout the city that will keep children busy and cognitively focused while it’s cold and snowy outside.  However, it’s also important for kids — and parents as well — to get outdoors and engage in physical activities during a holiday break or weekends.

You and the kids can simply go outside and have a snowball fight or make snow angels in your yard, but you can go and have fun around the city without breaking the bank.

Free Public Outdoor Skating

Winter is the season for ice skating, so time to grab those skates, hit the ice and spend some time with the whole family at one of Toronto’s outdoor public ice rinks. There are many free places to get your skate on in Toronto that will be open through to March 2019 if the weather permits. Brave the freezing cold and go practice those triple axels!

Fun Winter at Ontario Place

Ontario Place is a must-go-to destination for all your favourite winter activities and attractions. A winter festival that’s free to the public seven days a week until March 17, 2019. Enjoy the Winter Light Exhibition, an amazing 18 light exhibits created by local artists that showcase the artful effects of light. Try out the synthetic ice skating rink that will be open to the public all winter long. The Cinesphere features family-friendly films that you can watch on their massive screen with shows at 7:30pm daily. Bask in the glow of fairy lights wrapped around more than 100 trees as you go around and explore the West Island. There’s also a bonfire to warm up around while you sip hot chocolate and roast marshmallows.

Discover a Toronto National Park

It’s all fun and exploration this winter when you and the kids join in on a friendly and fun guided walk with Parks Canada. The park offers family-friendly trails for hiking that cater to all ages. You’ll get to discover a wide array of trees, plants, grasses and wildlife sightings. You can go on quiet nature walks to experience the beauty of the Rouge in winter or just to meet new people. Check out their website for their January and February schedule.

Winter Stations 2019

Okay, so the beach may not be the first place you would want to visit in the winter, but maybe looking at art installations attached to lifeguard posts will make it interesting for the adults and stimulating for the kids. The winter event is now in its 5th year, so it’s obviously a favourite activity around town that you would want to consider. Another thing that may change your mind, admission is free! Take the kids for a stroll on The Beaches and enjoy the playful art displays of international artists and designers showcased along Toronto’s snowy waterfront from February 18 – April 1, 2019. Last year’s installations included a wire nest sculpture weaved together by colourful fabrics and a nuclear cooling tower decorated with tiny pinwheels. Hmmm, wonder what this year’s winners will bring?

Escape to an Indoor Pool

The thought of swimming during the cold months may make you cringe, but swimming in indoor pools can be a great way to stave off the bitterly cold temperature. Swimming is a great workout, and it can help heat up the body naturally. The rise in your body temperature, will give you a soothing, calming effect and boost your mood. It’s just the perfect antidote for the winter blues. What’s more, the workout will keep your family’s immune system strong so it can fight off bacterial and viral infections. This is particularly important during the winter season when colds and flu rear their ugly heads.

Family Snow Tubing

Snow tubing is another winter family favourite activity because, really, what’s more fun than sliding down a hill! Many people say it’s a lot more fun than sledding because the snow tubes can spin in any direction, unlike in a sled where it just makes you go downhill in a straight line. There are many local parks and ski areas that offer snow tubing that rent out tubes for guests to use free of charge, so check out details before heading out. Don’t forget to check for weather updates too, as many winter activities are available depending on weather conditions.

Toronto International Boat Show

Spend the day with the kids at North America’s largest indoor boat show. You can ski and dine around,  take a look at the impressive fleet of 1200 boats of different sizes ranging from 6 ft. to 60 ft. or just browse through the wide array of marine accessories on display. Lots of other family fun events to look forward to: watch professional wakeboarders compete in the Toronto Indoor Wakeboard Championships, attend fly fishing classes in the world’s largest indoor lake, watch remote-controlled sailboats race on the lake just like in Central Park, and meet with pilots and technicians at the Royal Canadian Air Force exhibit. The event will take place from January 18 to January 27, 2019. There is free admission for kids with ages 16 and below, an admission ticket for only $5 after 5pm and free parking on weekdays after 4pm!

Go to a Model Train Exhibit

Model trains can be fascinating to some kids (and some older “kids”). If your brood is up for it, take them to a real train museum. The Toronto Railway Museum showcases interactive exhibits of steam and diesel locomotives so kids can learn about the city’s railway history.  Better yet, they can go on a guided tour in the outdoor museum and explore a collection of full-size trains, a live steam miniature railway and the main attraction, a fully operational 120-foot long locomotive turntable. The museum also has a miniature train ride operating on weekends, which cost $3 for adults and $2 for kids.

You don’t have to stay inside throughout the frosty season! So, when everyone gets bored and the kids start to bicker and it’s driving you bonkers, you know it’s time for a break. Round up everyone, bundle up, and have some free family fun with these affordable indoor and outdoor activities to entertain kids in Toronto winter for free.

Posted On: January 18, 2019

There are many things you can do in Toronto for free or almost free. If you’re climbing out of a difficult debt situation – making lifestyle sacrifices is necessary. You need to tighten your budget and settle into a new lifestyle with a monthly budget that’s been drastically cut back. It’s just one of the things you have to do to get a good grip on your finances.

However, don’t forget to have fun along the way. You deserve to have some fun, especially on some days when it will be really rough, and you will be stressing out, and you’ll feel pretty much like a zombie. You’ll need to take a break, and you’ll benefit a lot if you take it easy once in a while.

I know you’re thinking that it’s going to be impossible to still have a life while you are focused on paying off debt. However, it’s not impossible. It can be done. You can definitely still have a fun and healthy lifestyle even when you need to tighten your budget. You just need to be smart with the resources you have.

Let’s start off with some of the things you can do in Toronto for free, or for cheap, to help you take your mind off your debt problems even just for a little while — and have some fun, enjoy life and simply live in the moment.

FOOD AND EATS

For many of us, life is food. We feel we are living well if we eat well. Luckily in Toronto, there are many places you can dine on delicious meals that cost $10 or less without having to sacrifice quality or taste.

Groupon

The best place to find great food at cheap prices is on the Toronto Food & Drink Groupon page.

Groupon is a popular money-saving website that features local discounts in over 150 cities. If You’ll find the latest food and drink deals in Toronto to have breakfast, dinner, lunch or to celebrate birthdays and other special occasions that offer great savings from 40% and up. New deals get added many times daily and weekly so keep checking back, so you don’t miss out.

ART AND MUSEUMS

These are some great places you can check out if you are a person who has a great love of art:

Bata Shoe Museum

If you love shoes but can’t afford to buy any yet, you can still stare open-mouthed in wonder and amazement at over 10,000 items of footwear in Toronto’s unusual and unique shoe museum. The four galleries housed within the four-storey structure regularly organizes exhibitions, so there are always some new shoes for you to see. On Thursdays from 5 – 8 PM, you only have to shell out $5 for admission.

Art Gallery of Ontario

Admission is free at the AGO on Wednesday nights from 6 to 9 PM. You can take a look at close to 95,000 pieces of art: everything such as contemporary art, prints and drawings, photography, and art collections from around the world. Make sure you don’t miss out on unique events that any art fan will enjoy.

MUSIC

Some of us need the sound of music to help us relax, so here are some fantastic places to enjoy.

Free Concert Series by the Canadian Opera Company, Richard Bradshaw Amphitheatre

For this season, the COC has organized a variety of worldwide performances for free until May 2019. However, you have to check out their website regularly for upcoming events in their 2019/2020 lineup as they hit their 1,000th concert. Free concerts are mostly on Tuesdays and Thursdays at noon, and at times on Wednesdays at noon or 5:30 PM. Admission is free, however, seating is limited, so plan your visit ahead and come early.

Canadian Music Festival

This is an annual event that happens every first week of May where you can get to listen to over 1,000 live bands and musicians from a wide range of genres held at numerous venues across downtown Toronto. Get ready to get your groove on with so much music and so much fun for very little cost!

SHOPPING

Kensington Market

This place is a charming, pleasantly old-world neighbourhood right next to Chinatown. You’ll find lots of unusual vintage or surplus clothing, shoes, jewelry, bags, and one-of-a-kind gifts and arty-crafty home accessories and creative artworks in many retro furniture shops. There are also plenty of coffee shops and restaurants to pick up a cup of good & cheap coffee or tea and affordable breakfast and lunch specials for take out. It’s so diverse you can spend a whole afternoon or evening just strolling around and window shopping.

GARDENS AND PARKS

Toronto has over 1,500 parks and gardens that are free all year round. You can walk the dog, stroll around, explore on a bicycle, picnic with the family, play with the kids, lounge in the grass or simply sit all day on the benches and people watch. No matter what you do, a visit to one of Toronto’s parks and gardens are a great way for you to get outside and have some fresh air.

Here are some you’ll want to visit soon:

Trinity Bellwoods Park

A beautiful oasis in the west end of Toronto that’s well-suited for you if you like traditional green spaces with lots of greenery and century-old trees. The park organizes lots of special events, such as art installations, plays, book fairs, drum circles, meditation clubs so you can meet lots of new friends there. And you don’t have to go far to eat and dine as there are also plenty of incredible and affordable places to eat and drink within and outside the park.

Allan Gardens Conservatory

If you are a fan of exotic plants and floral displays a visit to Allan Gardens Conservatory is a must. It’s a botanical haven of unusual flora, tropical plants, spiny cacti, and exotic palms from all over the world.

PASTIME FUN

Graffiti Alley is getting to be a really popular attraction in Toronto, so if you suffer from FOMO or the fear of missing out, it’s one of the things you can’t miss to experience. You can stroll around with friends or a significant other and admire wall after wall of fantastic street art and take lots and lots of selfies to post on your social media accounts. The murals can keep changing as artists regularly paint over old works and replace them with new creations, so there’s always something new to see and photograph the next time you visit. There’s also often something going on in nearby areas, such as outdoor ice skating in the winter and live music, outdoor movies and cultural festivals during the summer months.

Paying off debt does not mean you can’t have a life. There are tons of things you can do in Toronto for free or for cheap, whatever mood you’re in. All you really need to do is find the time to get to some of the city’s main attractions and enjoy life.

Posted On: December 21, 2018

If you are struggling with debt, you are certainly not alone. Most Canadians, if not all, have debt. Some of us have just a little bit of debt and that’s completely normal, and we must know how to take measures to keep it at a manageable level and avoid becoming trapped in a cycle of debt.

On the other hand, there are also some of us who have a large amount of debt and it’s creating stressful financial issues as we try and juggle payments on the debts and put more effort into meeting the monthly payments on time.

And then there are a number of Canadians, unfortunately, who have out-of-control debt that has really become a burdensome problem and causing them to feel a deep sense of shame, guilt, and embarrassment to the point that they suffer physical and psychological health issues, such as anxiety and depression.

Managing debt is the very first step to prevent it from getting out of control. That’s really the rule of thumb when you take on credit. Once you take on any type of debt, it can affect your entire financial life. That’s why it’s so important that you take the steps towards being the one in control of your debt, instead of debt taking over your life. If you are in control of your debt, it will make you feel confident about being able to pay it off in a timely manner and you won’t be afraid about facing any financial demons over time.

Here are two important things to understand to help you always take control of your debt:

Know how much you owe.

Monitor your debt so that you are always aware of how much you owe. You monitor your debt simply by creating a detailed budget to plan your expenses.  A budget will provide very important information for effective debt management. It will show you:

• The net income you have available to spend.
• What your regular expenses are (e.g. rent, childcare, food, transportation, savings).
• The total of the payments you have to make each month for your debts (e.g. credit card debts, mortgage, car loan and other loans).

Make sure you list each of your debts, one by one, indicating the total amount each creditor it is owed, the monthly payment you need to make, and when the due date is. Check your credit report to verify all your existing debts and to make sure you didn’t miss putting something on your list. Total up your expenses and payments and subtract this from your net monthly income. Depending on how much money you have left over at the end of the month, you’ll need to decide whether you have too much debt or if you feel comfortable with the level of debt you have now. Make it a point to update your debt list as you make payments on the due date. This will help you to stay aware of how much you owe all the time and prevent you from making any financial decisions that will lead to potential debt problems in future.

Recognize if you need help.

For some people, following a realistic budget to pay off debts and plan expenses is enough for them to take control of their debt. However, for others who have bigger debt problems and budgeting is not enough, there may be a need to create a manageable repayment plan to help you pay your debt and other bills each month in order to regain control of your finances.

As soon as you find that you’re struggling with payments and feel that you may have a potential issue on your hands, maybe you’ve made a late payment or think you’re not going to make a payment on time, reach out to your lender right away to find out if they can offer some ways for you to catch up or stay on time with payments. You’d be surprised that there are a number of creditors who are more than willing to work with borrowers who reach out to them for help before they are way behind on payments.  Creditors may lower your interest rate, reduce your payment or even temporarily suspend your payments for a number of months until you get back on your feet. The key is not to wait until you’re delinquent because you have more options if you have no missed payments.

If you really cannot pay even the minimum payments on your debts or cannot even meet your basic monthly needs such as buy food or pay the electric bill, then your debt problems are more severe and you may need a more permanent solution to help reduce or eliminate your debts entirely.

At this point, the best thing you can do to take control of your debt is to talk to a debt professional. A licensed insolvency trustee is the only debt expert in Canada licensed by the federal government to give advice about other options for debt relief such as a debt management plan, a consumer proposal or a bankruptcy. Each of these debt solutions have advantages and disadvantages and a trustee will be able to explain each option thoroughly and answer any questions you may have. The trustee will do an in-depth assessment of your financial situation and be able to make recommendations on the best option to solve your debt problems. By getting the help you need, you can get back in the driver’s seat and take back control of debt with some good advice instead of ignoring your debt problem and making matters worse like leading you to declaring bankruptcy.

Taking control of debt is a commitment. You need to be able to manage it responsibly. Even if you have just a little bit of debt, you need to exercise restraint to keep it at a level you are able to manage. If you have more than just a little debt, you need a little more self-discipline to have more control over your debts. If you have more debt than you can handle, it would require you to seek the help you need and make certain sacrifices to get back on top of things.

Debt problems and financial challenges are inevitable in life.  They will happen to each one of us at some level and at some point in our life. It’s important to realize that there are solutions to debt problems no matter how terrible your situation may seem to be. There is no need to spend your entire life in debt and allow it to ruin your other financial goals. All you need to do is make the decision to take control of debt and do all that is necessary to improve your financial situation.

Posted On: December 14, 2018

The new year is around the corner, so have you given any thought to the potential financial hangover you may wake up to in early January? Perhaps you spent too much, even though you created a holiday budget. If you think you might have spent more than you planned, here are some helpful tips to get you back on track before the next big holiday.

Assess how you spend money

Are you an emotional spender who needs to spend all the time? Or are you a careless spender, who doesn’t know or care where your money goes? Perhaps you’re somewhere in the middle. Identifying your spending style and taking positive steps to make a change will put you on the right financial path in the coming year.

Watch where your money goes — Understanding your cash flow

Do you have a personal and/or family budget? If yes, then go through it very carefully. You may be able to find extra money by cutting expenses in less important categories. Calculating your monthly income and expenses — your cash flow — is relatively simple. Simply add up all your income from all sources and the amount of expenses you usually have each month. If you have properly listed all your expenses, including things that aren’t paid out on a monthly basis like car insurance premiums, utilities and other bills, then you’ll have a good idea if you have the money to take on another monthly payment.

Here’s an example of the lists you may have:

Monthly net income.

• Take-home pay
• Bonuses
• Pension
• Dividends
• Social security
• Child support and alimony
• Any other main sources of income in our household

Monthly debt expenses:

• Monthly mortgage or rent payment
• Monthly alimony or child support payments
• Student loan payments
• Car loan payments
• Credit card minimum monthly payments
• Monthly payments for personal loans or any co-signed loans
• Monthly payments for real estate taxes and for homeowner’s insurance (only if they are held in escrow)
• Income Tax Remittance if self-employed
• Note: Do not include monthly expenses for groceries, utilities, gas.

Next, divide your total debt payments by your total income and multiply by 100 to get a percentage result. This is your debt-to-income ratio. Now, you’ll have a comparative percentage to help you understand how much of your income is used up paying monthly debt payments. If your ratio is 35% or less, you’re managing your debt well. If your income turns out to be equal to or less than our monthly expenses, then you’d better postpone or cancel taking on new debt. If it’s between 36% to 49%, you’re managing your debt to an acceptable extent, but your finances may not be able to handle unforeseen expenses. If you’re looking to borrow money, lenders may ask us for additional security to make their final decision. If your ratio is 50% and above, you’re at a critical level; you simply have too much debt. If you fall within either of these last two ratio levels, you should seek professional advice before things go too far. Keep in mind that you are not alone as many Canadians carry debt at 50% to 80% of their monthly income. It’s only after they realize that they no longer can meet the payments, that they’ve borrowed too much.

Pay off the debt and start saving

You’ve done the math and maybe things don’t look too bad. You are practically convinced that you can do this. But if you get away from the numbers a bit and reflect on a few other aspects of your situation, you may reconsider taking on additional debt:

• The reasons for taking on the new debt — the good reasons and the not-so- good reasons;
• What the benefits will be from doing so;
• What effect will this new liability have on other members of your household;
• What other costs will arise from the deal, such as the cost of lost future opportunities because of the need to service this new debt;
• The psychological costs to both yourself and others that stem from the existence of the debt and payment burden it creates;
• And whatever other personal, perhaps non-financial effect all this will impose on us and our family.

Based on your answers, you may decide it’s better to use the cash flow wiggle room you identified in your budget and apply it to pay off your current debts and start a savings program. Remember that it’s possible to change bad financial habits. It’s just requires you to make a concerted effort to simplify your life. By changing your consumer mindset now, you’ll find that you’ve made yourself richer. One way to make the change is by making spending harder. For example:

• Set up a pre-authorized payment program every payday to force yourself to save and pay down your debt.
• Limit your ATM withdrawals and bank fees. Plan your spending and always use cash. You may want to consider leaving your debit card at home, too.
• Put your plan in place. The key to financial success is self-discipline. Keep your eye on your goal. It may hurt at first but after a while your program will feel very natural.

The message here is not to encourage anyone to go into additional debt, but rather to tread carefully if that’s the direction you’re headed and avoid debt situations like bankruptcy in Toronto. If you allow yourself to get too comfortable, you may very subtly, perhaps without realizing it, be giving yourself permission to keep piling it on, which will eventually prevent you from reaching your goal of living debt-free. Remember, going into debt is a choice. At the end of the day, the numbers show that a well-researched, unemotional and honest analysis of your financial situation will pay far greater and better dividends to you than all the fancy baubles that you buy.

Posted On: December 5, 2018

As we get closer to the holiday season, there is one thing we can all agree upon: the holidays stress us out. Whether we’re juggling an increased social calendar, rushing to finish work before the end of the year, or trying to grab that last-minute gift, we’re all feeling somewhat overwhelmed. Along with all this rushing around is a tendency to over spend. We know we probably shouldn’t, but we tend to shrug it off and think about the consequences later. But then the first credit card bill arrives in January and we’re hit with one of the most difficult kind of stresses to deal with: debt stress.

Debt stress has an overarching effect on our lives. It affects our credit score, our financial independence, career choices, well-being and standard of living. In October, Equifax Canada announced that consumer debt continues to rise; in fact it’s up 5.4% since last year. But, we have it in our power to avoid the pitfalls and handle debt properly to achieve positive and desirable results. To ensure we don’t let debt control us it’s important to remember the difference between good debt and not-so-good debt. For example, good debt should leave us better off in the long-term and provide us with lasting benefits. By contrast, not-so-good debt will not provide some increase in value to us over time and tends to reduce our wealth.

Also, another way to control our debt at this time of the year is to understand how much we currently owe. Then we should set a holiday spending budget to ensure we don’t continue to overextend ourselves financially.

Calculate how much cash and debt you currently have: On a spreadsheet or paper and pencil, list your assets (what you own) and your liabilities (what you owe). Now calculate your net worth by adding up your assets and then subtracting your liabilities. If your net worth is positive, you’re doing a great job of managing your money. If your net worth is negative — or “in the red” — it’s time to be honest with yourself and not take on any more debt this holiday season.

Make a list, pay in cash and stick to your plan: Consider this list a mini-budget. Itemize what you realistically think you’ll need over the holidays, like modest gifts, food, refreshments and decorations. Based on the calculation you did above to identify how much you can afford and put an affordable spending limit next to each category. Your goal is to stick to this plan. There are often great sales in November and December, so do your research to find the best bargains.

Enjoy the season: It is possible to have a great festive season without spending a lot of money. Besides, it’s the thought that counts, not the expensive price tag. It’s also possible to use credit with good judgment and with a solid plan to pay it off. Happy holidays!

Richard Killen, Licensed Insolvency Trustee in bankruptcy and author of the new eBook The Glass is Half Full which is now available to be downloaded for free on this page.