Mack has decades of experience in the non-profit sector, including 10 years at ABC Life Literacy Canada. As its Executive Director, he led ABC’s efforts in Financial Literacy and was instrumental in the launch and growth of the highly successful Money Matters program. Through his work at ABC, Mack also became a voice and advocate for the financial literacy sector and the partners within the community.

Most recently, Mack was the VP Learning and Public Programs at the Royal Ontario Museum, where he led a large team of passionate educators, facilitators, and administrators working towards a museum experience for everyone.

He begins this new role on October 1st, 2024.

Credit Counselling Canada is the national industry association and accrediting body for Non-Profit Credit Counselling Agencies.

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A study conducted by Angus Reid for Credit Counselling Canada shows that more than 50% of the respondents indicated financial stability to be the top measure of financial health, and more than 42% stated that rising costs of living and housing had an adverse impact on their mental wellbeing.

20% Canadians spend 30%-50% of their income towards paying debt, and 10% spend more than 50% of their income on debt repayments. 77% cited the importance for credit card statements listing resources for safe and affordable debt. 40% indicated that their financial situation since the pandemic has adversely affected their mental health, with most of the population being Generation Z and Millennials. 84% of parents were worried about their child’s level of stress due to financial constraints. More than half of the survey participants were confident about bouncing back, and yet this requires help.

Financial pressures, pandemic stress, relationship issues, worry about who is influencing their children, job challenges – they have taken a toll on mental and physical wellbeing. While many turn to online streaming or music, they are merely distractions. Few seek the help of a professional counsellor, a vital step in beginning the journey back to emotional and mental health. Financial stress is the number one issue over which couples argue, and the last two years have been harsh for many.

When you need a caring voice and a listening ear, we are here for you. Our accredited non-profit counsellors can help create a customized plan to help you rebuild and reach your financial goals. Sometimes in life we need a friend, someone to walk beside us as we navigate the sharp financial curves. We want to remind you that you are not alone. Just leave us a message here, and one of our counsellors will be in touch.

The post Mental Health Matters: Coping with the Impact of Financial Stress appeared first on Credit Counselling Canada.

While there seem to be endless ways people are targeted with fraudulent programs and scams, here are some red flags to watch out for.

1. Being asked to do something urgently because the matter is time sensitive.
2. Told not to share the details of the call with anyone.
3. Asked to provide personal information including contact information, SIN, and financial card details.
4. Being told to purchase gift cards online or in store.
5. Asked to contribute towards something since others are doing it.
6. Pretending that someone you know is in trouble and needs help.
7. Being threatened with being apprehended if you do not pay the stipulated sum.
8. Receiving an email under the guise of a friend or acquaintance.
9. Offering a too-good-to-be-true offer that will magically do away with your financial woes.
10. An unknown person claiming to receive your regular debt payments, telling you to transfer to them instead of following the process you have with the Financial Institution you work with.
11. Being asked to wire money to someone you don’t know.
12. Real-estate and rental agents offering a questionably high selling rate or low cost of rent, sometimes requiring you to make an unofficial upfront payment on the sidelines.
13. Receiving a dubious job offer that requires you to process transactions, make phone calls from a company you haven’t heard about and isn’t credible.

If you have succumbed to such ploys, here are the steps you need to take immediately.

1. Make a note of the name, phone and email of the person who contacted you.
2. If you were directed to a website, make a note of the website address, and take screenshots of the pages you were directed to. Note their IP address if you can.
3. Keep all your personal documents such as bank information, cheque books, SIN, health card, etc., in a safe location.
4. Contact your local Law Enforcement office. As directed by them, report the matter to the Canadian Anti-Fraud Centre.
5. Make sure you contact your bank (or relevant financial partners) to block your payment cards and cheque books, and change the passwords to your online accounts. Request for new payment cards and cheque books, and never share this information with anyone.
6. Add a statement to your credit report and check frequently for any fraudulent activity.

Check with your bank for the right financial products and plans for your needs. For more articles on how to safeguard yourself from scams, read here for resources provided by the Government of Canada.

To speak to one of our accredited credit counsellors who can help you choose safe and legitimate insurance or other financial options, click here.

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Whether happily coupled, or single and carefree, if you are looking for heart-felt and meaningful ways to make this season one to remember, here are some fun ways to make that happen, without the glare of advertising’s tempting lights!

1. Enjoy dinner and a movie night in your backyard. Try cooking together, or maybe it is time to splurge a little on takeout! If the weather permits, setup your outdoor movie theatre. All you need is your favourite movie, an overhead projector and a white sheet spread over a clothesline or balcony wall. Add soft music, lights, comfortable seating, and warm throws, and you are all set!

2. Candle lights, flowers, romantic music, and your favourite game can make the evening festive without busting your wallet. You could plan all this to be a surprise for your partner. Or, perhaps enjoy cooking and setting up together. The perfect ambience in the comfort of your own home!

3. Enjoy a game night or fun challenge with your family. Choose from inexpensive options, something you can get children involved in as well. Employ their creativity to decorate and make the place festive. Just moving furniture around, adding fresh flowers, and themed decor can brighten things up! Cherish memories as you look at family pictures, bringing back beautiful moments!

4. Why not make the entire day fun by planning a road trip or hike? Pack a fun picnic lunch, let music float as you take in the sights of the country and forest trails. Choose the perfect spot to camp, or if you like, explore the city’s cool attractions.

5. You could make the day extra special by spending time at a charity you both love. Take some time this Valentine’s Day to give to children, animals in shelters, and other lonely hearts in need of a kind word and smile!

Remember to stay safe this season, as you plan time together with loved ones and friends. Joy doesn’t have to come with a price tag, but in the time spent with those you love. This can also be the beginning of a season of smart choices financially, as you wisely balance splurging and saving for the future. As always, our team of non-profit accredited and caring counsellors are a phone call away, if you need some guidance and help in making healthy money choices. Leave us a quick note here, and we would be more than happy to be there for you!

The post 5 Fun and Inexpensive Valentine’s Day Ideas! appeared first on Credit Counselling Canada.

5 tips To Avoid Holiday Scams

Research The Charity You Are Giving To

The request for charitable donations ramp up during the holiday giving season. Be sure you know the charity you are considering donating to so you don’t give your cash away to those with less than charitable intentions.  It’s OK to say “no”. Try offering “thank you, but I am not in the position to donate right now”. You could also deploy the Hug and Release approach. “Thank you for your time and I do appreciate your efforts (hug). However, I have other areas of interest and passion that need whatever resources I can offer (release)”.

Be Wary Of Re-Gifted Gift Cards

After the presents have been unwrapped, the tree is down and left overs are consumed, scammers could try to sell you gift cards that have no value on them. The gift cards are sold at a reduced price giving the appearance that you are getting a great deal. When you attempt to use the card, you will soon discover that there is no credit left and you certainly didn’t get what you paid for. One solution is meet the seller at the store where the gift card is issued and verify the balance. You can get a great deal by paying 15-20% less than the value of the gift card but be sure to verify the value.

Avoid Getting Short Changed at the Register

Don’t get caught up in the hustle and bustle and get distracted at the checkout.  Pay attention to the bills you are handing out and the change you are getting back. Check your receipt for scanning errors.

Keep Eyes On Your Purse Or Wallet

Holiday Scammers lurk in busy malls waiting for you to become distracted and when you turn your back, your purse or wallet is gone! Keep an eye on your purse, securely closed and within reach. Stow your wallet in a zipped jacket or your front pocket.

Holiday Job That Leaves You Holding The Bag

This time of year can be financially stressful and therefore some people want to earn a bit of extra holiday shopping cash. Be wary of “work now, get paid later” type of jobs and check out the employer’s credentials ensuring this isn’t a phishing expedition for your personal information.

The Better Business Bureau has identify more holiday scams and tips to protect yourself.

If you are struggling with holiday debt, find an accredited Credit Counsellor near you.

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What is a Precarious Job?

Precarious jobs are associated with part time or self employment They also include contract or fixed-term work and seasonal employment or temporary and on-call positions such as home-based workers and telecommuting. A full-time position on the employers premises for a decent wage could still be considered precarious employment if there is a fear of relocation, layoff or company shut-down.When facing employment uncertainty, its important to always live within your means and resist the temptation to over spend. Never supplement income with the use of credit cards or be tempted into Buy Now, Pay Later plans. Buy Now, Pay Later, also known as retail sales plans, can accrue interest during the no-payment required period. This results in the original balance PLUS compounded interest to be paid when the debt becomes due.

As credit card balances increase and only minimum payments are being maintained, consumers consider consolidation loans to lower monthly repayments. For a consumer employed in a precarious job,  they may not meet the lending criteria. The bank lender could require a co-signer but is that really a wise decision? Having a co-signer means that person is also liable for your debts so consider all the implications carefully before choosing this option.

Warning Signs That Your Financial Health May Be Suffering

• Must utilize credit to pay for every day expenses such as grocery, fuel and utilities
• Making minimum payments only and missing payment due dates on Credit Cards or Loans
• Unable to pay utility bills or rent on time
• No emergency savings

How Can I Balance My Precarious Job and My Financial Health?

• Know your budget! What is the minimum amount of money that needs to be earned each month to make ends meet? Our member, Credit Counselling Society, has a free service at MyMoneyCoach to show you how.
• Set aside savings for emergencies or to cover unpaid sick days
• Decreasing expenses will help increase savings. Review bank charges, consider carpooling to and from work also packing a lunch and making coffee at home.
• Never put vacations or large purchases that you cannot afford on credit cards
• Keep your resume up to date. Be sure to include new skills and any training you have taken.

Do you identify with any of these warning signs? Then it’s time to speak to a qualified credit counsellor in your area.

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1. Before you start, make sure you list and total the income of your family. It is important to plan this ahead of every paycheck.
2. Make a list of essential expenses – food, housing, medical needs, utilities, education, transportation, financial payments and obligations, etc. This does not include dining out, entertainment, day trips, and the like!
3. Make sure you set aside a little every month for any emergency. Always wise to be prepared for a rainy day. Giving the kitchen a new look, or upgrading old fixtures are not a reason to dip into the piggy bank!
4. If there is still room in your budget, make sure that money is tucked away in a savings account – however small it may seem. It is not the amount, but the habit of saving that matters more.
5. Give yourself the gift of five minutes everyday to track your expenses. It will help you see where your money is going, so you are not caught off-guard when the credit card bill arrives. Resist the urge to spend beyond what you planned for the month.

Utilities and groceries are key areas to tweak expenses, when possible, while maintaining a healthy lifestyle. Many stores rotate food supplies that they have on sale, and it would be ideal to make use of this. When possible, stack up on discounted items, while looking for the best deals.

Check with your bank for the option of setting up an automatic transfer every month. Making savings a non-negotiable will bless you in the long run. Remember, money not spent, is money saved. It will come handy when there are celebrations and holidays!

Being intentional about your spending, helps you stay in charge of your money. Staying persistent and being accountable when it is not easy, is what will take you to the next level.

It is not too late to get back on track on the road to your financial dreams. If you need help crafting a personalized budget that works for you, speak to one of our caring, accredited, not-for-profit counsellors today, or leave us a message here. When you need help, we are here for you!

The post Creating a Realistic Budget and Finding Freedom to Spend Intentionally! appeared first on Credit Counselling Canada.

Without the unwavering support of Canada’s Government, and major Financial Institutions, we would not be able to reach countless Canadians with much needed financial advice, counselling, educational resources, practical and feasible debt management plans customized to individual clients.

It has been CCC’s joy and honor in keeping with the annual tradition of presenting the Credit Counselling Canada 2021 award to Canadian Tire Bank, who have been unequivocal in their passion and commitment to strengthen the most financially vulnerable in our communities.

Our deepest appreciation also goes out to all Financial Institutions that have worked with us in the past decades to fulfil the mandate to help Canadians on the path to financial freedom. None of this would have been possible without them.

As always, CCC stands at the forefront of advocacy initiatives on behalf of those in need of an accredited, non-profit source to help during such times of uncertainty and change. Clients who walk through our doors and avail of our services, never leave the same. With the voice of truth and caring that has their interests at heart, they can breathe easier, thankful for the helping hand in navigating their difficult circumstances. Together, we are helping our communities, one family at a time!

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Today can be the beginning of the best days of your life. It begins with those baby-steps, small things that help you set a good foundation, and orient you in the right direction!

1. Don’t let society influence your priorities. An expensive vacation, fancy car, house bigger than you can afford, or an irresistible clothes sale cannot really give you the security you desire. Social Media is full of carefully curated pictures of one’s life and experiences, masked by a spectrum of filters. Happiness is not in living up to the ideals of others, spending more than will really bring you joy.
2. It is tempting to be swayed by a flash sale, but money not spent is money saved. Keep those items in your virtual cart a little longer, and sleep over it before you make the purchase. It is best to save money and wait until you can pay in cash.
3. Setting financial goals can be a key motivator in being able to say no to things that can wait, things that would delay your reaching the finish line of your goal. Keep them clear, easy, and doable. What matters more than how much you can set aside every month, is the habit of saving!
4. Cut your budget where you can. This can mean spending less on entertainment, saying no to an invitation to dinner or partying, dropping brand names for local merch, and cooking at home instead of choosing take-out! Learn to stretch every dollar. The security of money in your account is lot more rewarding than a passing pleasure.
5. A stitch in time can save nine! Look for those tell-tale signs. Our short quiz here, can help you assess your financial health, like checking your blood pressure at the pharmacy.

Sometimes in life, we need a guide or coach to help us grow to the next level. If you need the right person walking alongside you to help you navigate those sharp financial curves and someone who has your interests at heart, take the quiz and reach out. Credit Counselling Canada’s team of caring, dedicated, accredited, not-for-profit counsellors love helping others, talking about money and reminding you that you’re not alone. We have helped more than a million Canadians through our financial literacy, counselling and low-cost debt solutions. Our passion is strong as ever, to help indebted Canadians get back on the road to their financial dreams.

Leave us a message here, and a counsellor in your area will be in touch. When you need help, we are here for you!

The post You Can Be Debt-Free! appeared first on Credit Counselling Canada.

September is such a beautiful month with the cooler, crisper weather and all the vegetation turning into the brilliant colours of fall, including a few of my pumpkins I planted in the spring.

For many of us who still have the muscle memory of starting school in September, this time of year can feel like a new beginning. For me, it’s a time for reflection on how the last eight months of the year have gone and then I step into that fresh piece of paper and a pen and start to dream about new goals.

This time of year, can also bring about a lot of change and transition. Perhaps you’ve just started school and are still wrapping your arms around the whole experience. Maybe you’ve embraced the ‘great resignation’ and decided to change jobs or retire. Possibly you’ve welcomed a new family member into the world or said goodbye to a loved one. All of this change can create stress and/or joy but one thing is for sure, these changes can impact your finances.

You may have to pay for tuition and books, reinstate your bus pass because you may be returning to your workplace, or put your car back on the road.  Many people living in Canada have adjusted, at least somewhat, to this new normal of pandemic living.  This includes the budget we’ve been living with over the last 18 months and introducing a new expense can feel uncomfortable.

This is actually a good thing – that uncomfortable feeling is your internal warning system giving you the heads up to pay attention. Paying attention doesn’t require us to panic, it just means we need to be conscious about the extra cost and integrating it into our existing budget.

Now if this sounds like it’s stressful or too much work or not interesting enough, fair enough. Your experience and feelings about this are totally valid. And here’s the great news, there’s someone who can be a coach, guide, or even a partner throughout your whole financial journey, including creating a manageable budget because a lot of people think budgeting is boring.  But not our credit counsellors, financial coaches, and financial educators, they LOVE budgeting!

I like to think of non-profit credit counsellors and financial educators as the person you take on a road trip, a financial one that is. You decide on the destination (e.g. being debt free, rebuilding your credit, saving for an emergency or a goal) and they’ll help you create the roadmap to get there.  They’ll make sure you’ve got good tunes to carry you through (e.g. financial tools and resources) as you progress towards your goals. They’ll cheer you on when you’re weary, they’ll hand you tissue when you feel overwhelmed and need a good cry, and they will celebrate with you when you achieve your goals, big and small.

If you want to start your fall feeling positive about your money, come chat with one of Credit Counselling Canada’s member agencies. They are non-profit organizations dedicated to helping consumers in Canada resolve their debt and build solid financial skills for a lifetime.

As an aside, speaking of new beginnings, I would like to introduce myself – I am the interim CEO for Credit Counselling Canada. I’ve had the privilege of leading teams of credit counsellors and financial educators for the last 13 years and I’m deeply passionate about eliminating financial shame for consumers in Canada. I live on a small farm in BC with my husband Brad, dog Duke, and kitties Lasercat and Keanu. In my spare time, I love to be outside farming, walking, reading, and working with stained glass.

Stacy Yanchuk-Oleksy

CEO, Credit Counselling Canada

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