3 Tips to Help Reduce Student Debt

When you’re still in school, it can seem like you have all the time in the world to pay of the debts you’ve been accruing. You’d be surprised how short “all the time in the world” will seem in a few years, when you’re on the job market and taking the first steps towards establishing your life.

At Fox-Miles & Associates Inc. Licensed Insolvency Trustee, we provide services for credit counselling in Edmonton. We know that no one intends to go into large amounts of debt. It happens in increments over several years. Despite the best intentions, people can end up in trouble from debts that began when they were in school.

How Bad is Student Debt in Canada?

If you’re a student that wants to put your best foot forward after school, there are a few things you can do:

  • See a professional for credit counselling in Edmonton today. No matter what the state of your finances is, you can always benefit from professional help to make sure you’re on the right path. A professional will help you make a personal plan to meet your financial goals.
  • Pay off student debt before taking on new debt. Most people shouldn’t expect to immediately move into an expensive condo when you land your first job. Making paying off your student debt an early priority will allow you to move on to other large purchases in the future, such as a car or house.
  • Practice making and sticking to a budget. Having a budget doesn’t mean cutting out all luxuries. It simply means not spending more than you can afford. The sooner you get in the habit of economizing, the sooner you’ll be on a path to success.

Get Credit Counselling in Edmonton to Help Secure Your Future

If you’d like to set a course for financial stability, contact us at Fox-Miles & Associates Inc. Licensed Insolvency Trustee today. We offer credit counselling to everyone in the Edmonton area. If you’re in financial trouble and are thinking of bankruptcy or a consumer proposal, or you simply want a little help getting your credit score to where you want it to be, we’re here to help!

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