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Family Ties and Financial Health

Why it’s OK to hit a financial rough patch, and it’s OK to get help.

Reflecting on the Past

In 2016, we introduced Newfoundlanders and Labradorians to our financial health assessment tool.  Looking back on the impact of this tool and our No Debt campaign, it leads us to reflect on the many people across the province who took the time, either on their phone at lunch or in their car after work, or even after their kids went to bed — to click in and assess their financial health.

The Picture of Health

“Financial health” is still a taboo subject and I think it is critical for everyone in our province to normalize this term — there are so many reasons why. 

Consider the many decisions we face every day regarding where we should spend money, and if we should save money. The controls and the confidence we have in managing our personal finances is something that causes many of us to throw our hands up in frustration. 

Financial literacy requires consideration and discipline. It also requires patience and understanding. An understanding that you have options such as bankruptcy or consumer proposal if you are experiencing financial difficulties. Thankfully, we have Licensed Insolvency Trustees to help you make informed decisions and to improve your financial position.

The subject of financial health is beginning to be discussed more openly across the province, and we like to think that it’s partly in thanks to our No Debt campaign. As always, we encourage you to assess yours today and learn how to take the first step in gaining control over your financial health, right here, by clicking this link.  

Turning the Page

Once we felt like the impact of our No Debt financial health assessment tool was truly helping Newfoundlanders and Labradorians get out of debt, we turned our attention to what so many of our incredible, brave, and courageous debtors, staff, and community network had told us all along — that talking about your financial problems is hard. 

I’m well aware that this is not a revolutionary thought, but I do believe that we have to help normalize the vulnerable discussion around improving financial health, teaching how to save money, and to have people feel like it was OK to get the help that they need. This brought us to an exciting, yet simple, idea — #ItsOK. 

It’s OK to hit a financial rough patch with your finances, and it’s OK to get help. 

We consider the ‘it’s OK’ message to be our credo and we are sharing this compassion and confidence-building message through all of our channels so we can help folks across the province and beyond to feel like taking the first step can be less scary and overwhelming.

Building New Habits

We wanted to explore the fact that financial issues are often generational and very intimately tied to various family members. 

Imagine a family with two young children, or a retired couple, or a younger adult alone and taking on the world. Each is likely to experience financial difficulties for different reasons and we want to ensure that everyone knows that it’s OK to get help — to talk about personal finances with a Licensed Insolvency Trustee, to experience debt relief whether through bankruptcy or proposal and to improve your financial health for the future.  

The Road Ahead

The following are three video stories we worked hard at doing our best to express how relatable and how interconnected financial health is. We used real Newfoundlanders and Labradorians in their homes — because we are a Newfoundland and Labrador company committed to helping our people get out of debt – and stay out!

Please enjoy the videos below and feel free to share them with anyone in your life who may be experiencing financial struggles. 

It has been such a pleasure helping so many Newfoundlanders and Labradorians get out of debt over the past 35 years and we will continue to demonstrate that we are focused on the people who live and work with us. 

Until next time, please continue to follow us on Linkedin, Facebook, and Twitter as relevant and helpful information continues to be released. 

Ian Penney – CPA, CIRP, Licensed Insolvency Trustee

Please click below to watch our productions:

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