Darren Devine, CFP®, CLU®
Financial Planner, Sun Life
President of Devine and Associates Financial Services Inc.
Hello, and welcome to Money Monday, where we help simplify your financial journey. I'm Darren Devine, Financial Planner with Sun Life and President of Devine & Associates. Managing debt can feel overwhelming, but the good news is—you can tackle it without sacrificing your financial goals. Today, I’ll share a few simple steps to help you stay on track while working towards a debt-free future.
The first step is to understand your debt. List out what you owe, the interest rates, and payment terms. Then focus on tackling high-interest debt first, like credit cards, as it can snowball quickly.
Next don’t forget your goals. Prioritize building an emergency fund—it’ll help prevent adding more debt if unexpected expenses arise. Then continue making contributions to long-term goals, like retirement savings. Even small, consistent amounts can make a big difference over time.
Finally, stick to a budget. A clear plan for your income and expenses ensures you’re not overspending and helps direct extra funds toward debt repayment. Tools like budgeting apps or working with a financial planner can help keep you on track.
Managing debt doesn’t mean giving up on your dreams—it’s about finding the right balance. If you’d like help creating a plan to tackle debt while staying focused on your financial goals, we’re here for you. Let’s work together toward your brighter financial future.
Thanks for tuning in. Don’t forget to like and comment for more episodes filled with tips to make your financial journey a breeze. Until next time, I'm Darren Devine, and you can always talk to us today at DevineAndAssociates.ca!