Debt stress can be overwhelming – but you are not alone, we are here to help you find a better way to move forward towards a debt-free future.

Since 1990 Sands & Associates has helped thousands of people across BC get a financial fresh start and a future free from the worry and stress of debt. We are proud to play a non-judgmental and supportive role in helping our clients move forward with their lives and are grateful for those who choose to share their stories, in the hopes that they may offer encouragement and support to someone else facing similar circumstances.

Meet Tammy and watch her tell her debt-free success story, unscripted and in her own words.

Read more about Tammy’s story:

Tammy was managing on a narrow budget as a single Mom raising her son on her own, but when her employer’s company changed hands and she lost her job, debt began to take root in her daily life. After a period of having her income reduced to EI benefits, Tammy did find work, but the decreased income left the strained family finances suffering.

“…starting off at minimum wage again…it hurts because you’re taking such a pay cut…”

“It was very difficult to keep up with payments and bills, my rent especially, that was the hardest one because the rent is so expensive in BC.” As Tammy tried to keep a handle on her finances bill collectors began calling and she was caught in the trap of credit cards and payday loans “…repaying them back to borrow again…”

Battling the relentless demands of her debts, the emotional drain and constant stress and embarrassment left Tammy feeling alone, “I would get two steps ahead and something else would happen and I’d be another three steps back, it felt like I was taking more steps back than I was forward.”

Tammy’s biggest worry was that she wouldn’t be able to care for her son. She describes an incident that triggered her drive for change the most: “…I literally could not buy my son anything for Christmas. That was the worst feeling of my life.”

“I tried my hardest to try to hide it from my son, but he knew something was up because I wasn’t myself….”

Learn the 4 Debt Help Resources Everyone Should Know About

Struggling with feelings of failure, but realizing she was “on a never-ending debt payment system that just didn’t work”, Tammy pushed past the habit of independence that made her shy about asking for help. Despite her nervousness, she sat down with Sands & Associates. “I didn’t feel like I was alone anymore. I had somebody in my corner helping me…” Learning that she could conquer her debt without filing bankruptcy left Tammy feeling energized…and finally stress-free.

“…I just kept taking those steps forward… Life just rolls, and we have to know how to deal with it.”

Connect with a caring Sands & Associates debt expert – book your free debt consultation today.

What kind of debt can a Licensed Insolvency Trustee help with?

Licensed Insolvency Trustees are the one debt professional endorsed and legally empowered by the Canadian federal government to offer solutions that can help individuals manage virtually all types of debts. Whether you choose a Consumer Proposal or even a personal bankruptcy to consolidate and cut debt, working with a Licensed Insolvency Trustee gives you options that can help you deal with debts from:

• Credit cards, overdrafts and lines of credit;
• Payday loans and cash advances;
• Debt consolidation loans from a bank or other financial institution;
• Mortgage or vehicle shortfalls;
• Income tax, GST and other Canada Revenue Agency debts, and their interest and penalties;
• Student loans, whether they are private, federal or provincial;
• ICBC and MSP;
• Personal loans and guarantees;
• Debts incurred while owning your own business.

Tailored to your individual needs and circumstances, a Consumer Proposal can serve to successfully consolidate your debts and cut the amount you need to repay down to what you can afford, with the remaining balance being written-off and forgiven by your creditors – your debts may be reduced by as much as 80% and future interest charges will be stopped permanently.

If you find yourself unable to make any future payments on your debt, a Licensed Insolvency Trustee can also provide bankruptcy services and a personal (or business) bankruptcy can have these debts forgiven.

Meet with a Licensed Insolvency Trustee to find out how we can help you move forward.

Ready to get started? Your debt-free future is waiting. Book your free debt consultation now.

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To meet with a representative for a free, confidential consultation in one of our 17 BC offices, please contact us.

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Read on to learn eight holiday planning and spending tips from Sands & Associates’ team of Licensed Insolvency Trustees, Canada’s debt help experts, to help you avoid relying on credit this season.

Plan Your Spending – Affordable is the Best Strategy

1. Set a Holiday Spending Budget: Planning ahead is a golden rule for virtually every aspect of the holidays, so be sure to give yourself enough time that you avoid last-minute (and often overpriced) purchases:

• Make a list and check it twice – before you shop for gifts take time to list what you’re getting for whom, and where you’ll shop.
• If you’re hosting meals or gatherings, sort out a menu and check flyers. Also be sure to have extra freezer space for your leftovers so you can make the most of your groceries.
• Double-check whether you already have incidentals such as wrapping paper, greeting cards and even canned goods before you shop.

Learn Budgeting Best Practices and Tips

While it’s always a good idea to have a shopping plan and to stick to your budget, you can also move beyond the golden rule of holiday shopping with these smart spending strategies:

2. Avoid Impulse Buys: Sometimes sticking to your plan is easier said than done – if you find your holiday budget is usually derailed with unplanned purchases, consider:

• Unsubscribing from email lists with too-tempting shopping offers.
• Using a grocery service that delivers so you can stay out of stores packed with seasonal wares and resist the urge to look at last-minute buys.
• Stepping back from online shopping carts before checking out – are those purchases still going to be what you want in another half an hour? After you’ve had a break, consider how you feel about the items you’re about to buy – if you can do without or aren’t solid on any of your purchases close the browser and walk away. 

3. Know the True Cost: No matter what your holiday budget is, it’s important to factor in the full cost of anything you’re purchasing and whether what you’re buying is truly worth it – after all, a $500 item you buy for $400 is still $400 spent – or more!

• Read all the fine print in any “buy now, pay later” deferred payment specials offered – you may find there are fees for using what is essentially a store’s credit.
• If you’re charging purchases to your credit card, remember that if you’re not able to pay the balance in full at the end of the month, you’ll be charged interest on those purchases.

Learn More About Credit Card Interest Costs and Ways to Pay Off Credit Cards

4. Travel Smart: If you’re headed out of town, try to book everything as far ahead as possible and compare your options and rates. Consider cost-savings such as:

• Mid-week flights as they often have lower prices, or booking less expensive connecting flights, and take advantage of any student or senior discounts available.
• Driving yourself? See if you can carpool with other family or friends to split costs.
• Booking group accommodations if everyone is heading out of town together.
• If you’re hosting travellers don’t be afraid to delegate hosting duties or ask your guests to bring along provisions if it’s a lengthy stay. Besides taking a toll on your wallet, having house guests can create extra anxiety over getting things just right.

Gift Giving – Aim for Less Debt, More Cheer

Surprising someone in your life with a thoughtful gift doesn’t have to come with a big price tag. Instead of breaking the bank doling out gifts, consider alternatives such as:

5. Charitable Donations: Many charities offer the option to give a gift on behalf of another person, providing much-needed support to worthy causes both locally and globally. These types of gifts can be a thoughtful option for individuals in your life who may be hard to buy for, and for children this can be a great opportunity to demonstrate empathy and stimulate a conversation about helping someone who may be less fortunate.

• An added benefit for you the gift giver is that these gifts are also charitable donations that you can receive a tax credit for – win-win!

6. Share Experiences Rather Than Purchases: Consider gifting an activity or organizing an outing rather than adding to collections of belongings this year – it may cost less to collectively organize a group or family outing than to individually buy for everyone on your list. A bonus benefit is that these types of gifts make memories that last longer than a trendy toy, and they don’t need any fancy packing to give! Some ideas to try out (and don’t forget to check places like Groupon):

• Learn a new skill with a class such as painting, crafting or cooking.
• Catch a live performance show, market or sports event.
• Book a local walking tour or excursion to be a tourist in your own city.

If you’re at the point where your budget doesn’t allow for outings or gifts, use the opportunity to try to do something completely different. Some of the most meaningful gifts may cost nothing at all, for example, you could:

• Take time to sit down and hand write a letter to a friend or family member. In our fast-paced society, your letter will stand out and show you’ve taken the time, and thought, to do something meaningful.

Understanding Debt Liability for Couples & Families – See More

7. Start New Low (or No) Cost Traditions: If your holiday traditions come with a big price tag, consider revamping, so you can focus on feeling positive about the season’s festivities. Talk to other family members and get everyone to share some new ideas – you may find you’re not alone in wanting to celebrate in fresh (and budget-conscientious) ways. Here are some ideas to consider, keeping the emphasis on people instead of prices:

• Try a ‘no spend’ season where everyone contributes towards a meal without a gift exchange.
• If gift-giving is a must, try drawing names and play “Secret Santa”, swap re-gifts or cap gift budgets at a low number to see who can be the most creative with $20-30.

Don’t forget to look out for and check in with one another – the holidays can be a financial strain for many people, and often people who are struggling all year feel embarrassed or worried about letting someone down.

If you really can’t avoid using credit for your holiday spending, then implement a realistic plan to have it all repaid no later than the end of February. The longer you carry a balance, the greater the interest charges you’ll pay which could make even a ‘great deal’ something you regret later. No one wants to be stuck paying for the holidays until June!

Dos and Don’ts for Credit Cards and Managing Your Credit Card Debt

New Year – Financial Fresh Start 

8. Plan Beyond the Holiday Season: Do yourself a favour and set aside some time over the holidays to assess your financial situation as the year ends.

• Have you kept to your monthly budget throughout the year? What annual costs should you consider for the upcoming new year?
• Are you on track to meet your financial goals such as savings and/or paying down your debt?

If you forecast it will take more than five years to pay off your non-mortgage debt, take time to talk with a Licensed Insolvency Trustee before the end of the year. There are options such as a Consumer Proposal that can help you get your debt paid off sooner, saving you considerable costs.

• Be sure you get advice from a Licensed Insolvency Trustee directly. There is no cost to get information about your options and resources.

Sands & Associates is BC’s largest firm of Licensed Insolvency Trustees focused exclusively on debt help services for consumers and in just 30 minutes we can help you better understand your financial situation and options, and get you a plan to be debt-free.

Talk with a non-judgmental debt expert today, your debt-free future could be closer than you think – book your free, confidential consultation now.

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