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    Money

    Not all debt is created equal. That’s why at CleveDoesMore.com, we focus on debt management and not just debt reduction.

    Today’s headlines focus on a global pandemic that’s ravaging our physical health. In all the noise, it is easy to miss the way another scourge is quietly destroying our financial health.

    If you took advantage of the Canadian Emergency Response Benefits (CERB) in 2020, you need to immediately take several steps to protect yourself from a fraud accusation and an unexpected tax bill.

    I have to admit, 2020 has been an unprecedented year narrated by a nerve-racking news cycle full of political strife, civil unrest, and minute-by-minute statistical and medical updates around living through a global pandemic.

    The stock market is down, meaning it’s time to celebrate. You read that right. When the market sinks, it’s time to celebrate that you can score some good buys.

    Don’t stop dreaming of the future, even if you don’t think you have the money to bring those dreams to life. Your dreams can inspire you to save money and work to reach your biggest goals. After all, if you have no dreams, what’s the point of saving money?

    Eliminating your debt pays off in ways you may have never considered. Firstly, there are obvious reasons to crush your debt. Carrying high debt lowers your credit score. This makes it harder to buy big-ticket items such as houses or cars. High-interest rates mean that everything you purchase costs more than you think. That deal you got on a cool new sweater doesn’t sound as good when you add in 19% credit card interest. Plus, the more money you owe, the less you have in your pocket.

    You know that creating a family budget would help you save money, but it’s overwhelming to start the process. How much should you spend on groceries? What’s the right figure for a monthly mortgage? Does living on a budget mean you can never buy a fancy latte again?

    Business valuation haggles, tax complexities, family disagreements, funding challenges, and legal wrangling are the inevitable right of passage when retiring from your business.

    Your business will overcome the waves and spikes of Covid-19, with a business continuity plan. The ultimate goal of the plan is to save your business and preserve the wealth you have built over these years.

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    ByBlacks.com is the top-ranked award-winning online magazine focused exclusively on telling Black Canadian stories. With over one hundred writers to date covering a range of editorial content, we also provide a free business directory for Black Canadian owned businesses, free events listing and promotional services for our clients.

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