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Our Location - 5050 Kingsway, Burnaby, BC V5H 4C2
Consumer Credit Counselling (1993) Ltd
Head Office
#310-5050 Kingsway
Burnaby, BC V5H 4C2
Local 604-435-7800
Fax 604-435-7810
Toll Free 1-800-565-4595


Recently, there was an article in Metro regarding allocating your income to money jars for such things as debt repayment, vacations, pensions etc. There is definitely nothing the matter with that idea. However, if you are in debt, you most likely have encountered some serious spending problems along the way, and that needs to be dealt with immediately because interest charges are killing you and preventing you from living life to the fullest.

So, at the end of each month, where does your money go and what do you spend it on? Not sure?

Well, here we go – and please keep in mind, you need to do this for 30 days and only 30 days because at the end of 30 days it will be time to put together a financial life plan.

You have fixed costs each month: mortgage/rent, groceries, car payment, utilities etc. These numbers rarely change and are easily identifiable. It’s the discretionary spending that needs to be brought under control; the little things we don’t track such as our daily coffee, lottery tickets, snacks etc.

Here’s what we would like you to do for the next 30 days. Get a receipt for every single item you purchase regardless of how insignificant you think the item is. Place the receipt in a jar or envelope marked – “groceries”, “incidentals”, “entertainment”, “transportation”, etc. At the end of 30 days take a look and add them up by category, now you know where your money goes.

Now what?

Next is a budget. We have a budget work sheet available on our web site at or click this link or feel free to send us a email to info@iamdebtfree.com and we will be happy to send you a copy. You know most of the numbers because you have spent the last 30 days keeping track of spending. So let’s get down to the serious task of becoming debt free. First and foremost is making sure you make the minimum monthly payment on credit cards, lines of credit and loans. A good rule of thumb is take the card with the lowest interest rate, make the minimum payment and add what you can afford monthly. Continue this payment until the card is paid off and then do the same with the next card. You will be surprised that you have paid your credit cards of in full in a lot less than the 30+ (?) years the credit card company has stated on their statement. If this doesn’t work for you and funds are still very limited and you are just paying interest and the balances are not going down, maybe it’s now time to call someone to assist you with a debt management plan. You can contact us at the addresses above or call us at 1-800-565-4595, if you do, you will save a bunch of money.

Despite being diligent about your spending and being smart about repaying your debts, sometimes that just isn’t enough. This is where a professional debt consolidation and debt management company can help – we work with your creditors to reduce your debt so you can pay it off much faster. Want to know how it all works? Give use a quick call at 1-800-565-4595 and ask us whatever questions you may have…we’re happy to help!

No matter what route you choose for debt management, you will always need 3 things to make it work:


Good luck.


Consumer Credit Counselling

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