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debt consolidation ottawa

Back-to-school season can be one of the most expensive times of the year for families. Whether your children are in elementary school or college, providing the supplies they need can be pricy. These expenditures can add up quickly and increase your overall debt. That’s why it’s important to create a budget and stick to it. Here are a few tips to help you create a plan for the back-to-school season.

• Make a list. Check with your kids’ teachers to determine what they’ll need when they return to school in the fall. Take an inventory of what you already have. Determine which items on your list you absolutely need for the first day of school. If you can wait a little longer, you should be able to save a significant amount of money on clearance items once the shopping rush is over. • Establish a spending limit. Come up with a budget that you’re comfortable with. Setting a limit will help keep your spending on track and prevent you from making impulse purchases. Consider paying in cash. This way you can plan to take only what you need with you and avoid spending more than you intend. • Look for deals. Take the time to compare prices at different store. Look for sales, coupons and other offers. Sign up for promotional emails before the back-to-school season so that you don’t miss out on any deals. Don’t forget to check out the dollar store for low-cost supplies. • Buy second-hand products. You don’t need to buy everything brand new — especially when it comes to electronics. Electronics are expensive and they can make a huge dent in your budget. Consider purchasing used or refurbished items instead. • Get your kids involved. Use your back-to-school planning to teach your kids about money. Getting them involved is a great way to teach them how to create a budget and stick to it. It also encourages them to prioritize what’s important and what isn’t and to come up with creative solutions.


Do you have multiple credit card balances and other high interest loans? The licensed insolvency trustees at D. & A. MacLeod Company Ltd. can assist you with developing a plan for debt consolidation. They can help you obtain a loan with a low interest rate so you can simplify your finances and pay off your debts sooner. We have offices in Ottawa and throughout Eastern Ontario. Contact us today to book an appointment.


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