Prioritizing spending

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Your needs and wants

Prioritizing your spending decisions can help you form responsible spending habits.

 

 

If you have already reviewed the budgeting module, then you may remember learning about the difference between a need and a want. The same thought process can be applied when making purchase decisions: is this purchase a need or a want?

What is a need? A need is a necessity, something that is essential for living.

What is a want? A want is a desire, something that is non-essential for living but that you would like to have.

One person's want may be another person's need. Example: For someone who lives near a bus route, a car may be a luxury. However, for another person who doesn’t have access to public transit and can’t bike to work, a car may be a necessity.

Needs and wants can change over time. Example: A full-sized washer and dryer can be a need when you’re raising a family. However, apartment-sized models can be what you need when your children are grown up and you have downsized to a smaller home.

Spending more than necessary to meet essential needs for clothing, food or even housing can also be considered a want.

image of debtor with counsellor

Think about the things in your life and if you are unsure whether they are needs or wants, then write them down and bring them with you to your in-person session to discuss with your counsellor.

 
 

Below are some practical ways to prioritize your spending to align with your needs and wants, as well as your financial goals. Take a moment to look at and think about the diagrams that follow.

Step principle

The step principle is about considering alternatives to the item you want to purchase. Which alternative most aligns with your plan?

Take food as in the example below. There are many choices. All of these choices satisfy your nutritional need. Moving down the scale, the choices are less expensive, yet still satisfy your nutritional need.

The step principle

An image of the step principle
Description

This diagram shows five steps moving upwards and to the right from a ‘need’ to a ‘want’.

The diagram has a light grey background. In the top left corner of the diagram the word “NEED” is written in white in all capital letters. To the right of the word “NEED” there is a grey horizontal arrow which stretches across the top of the diagram from the left side to the right side. The arrow is pointing towards the word “WANT”. The word “WANT” is written in white in all capital letters and is slightly to the right of the arrow. This grey arrow represents moving from a need to a want.

On the far right side of the diagram there is a large red vertical arrow pointing upward. The bottom of the arrow begins slightly below the middle of the diagram and the top point of the arrow is slightly to the right of the word “WANT”. In the centre of the large red arrow there is a dollar sign written in white. This large red arrow represents the change in the cost of an item.

On the far left side of the diagram slightly below the middle of the diagram, there is a thin white horizontal line which begins at the left edge of the diagram and extends straight across the entire diagram until it touches the bottom of the large red cost arrow.

Along the thin white horizontal line, there are five thin white vertical lines which are connected to the top of the thin white horizontal line. Each of the thin white vertical lines extends upward to connect to one of the five steps within the diagram. The thin white vertical lines vary in size and are equally spaced out along the thin white horizontal line.

The first thin white vertical line is at the far left side of the diagram and is the shortest vertical line. This vertical line is attached to the bottom of a red step. The red step is three-dimensional and is the closest step to the thin white horizontal line. This step is below the word “NEED” and in line with the bottom of the large red cost arrow.

Directly beneath the thin white horizontal line and in line with the red step, there is a circular image. The background of the circular image is beige. Within the circular image there is an image of a grey cooking pan with a wooden handle. On top of the pan there are images of various foods (such as, a chicken leg, onions, carrots, eggs) being cooked and tossed in the air. Underneath this circular image, the words “Cook from scratch” are bolded and written in black letters.

Directly above and to the right of the red step, there is an orange step. The top right corner of the red step is connected to the bottom left corner of the orange step. The orange step is three-dimensional and is the second closest step to the thin white horizontal line. Connected to the bottom of the orange step is a thin white vertical line, which is slightly longer than the first thin white vertical line.

Directly beneath the thin white horizontal line and in line with the orange step, there is a circular image. The background of the circular image is purple. Within the circular image there are images of packaged and canned foods, such as soup, hotdogs, and tomato sauce. Underneath this circular image, the words “Ready to cook” are bolded and written in black letters.

Directly above and to the right of the orange step, there is a yellow step. The top right corner of the orange step is connected to the bottom left corner of the yellow step. The yellow step is three-dimensional and is the third closest step to the thin white horizontal line. The yellow step is in line with the center of the grey horizontal arrow at the top of the diagram and the center of the large red vertical arrow.

Connected to the bottom of the yellow step is a thin white vertical line, which is slightly longer than the second thin white vertical line. Directly beneath the thin white horizontal line and in line with the yellow step, there is a circular image. The background of the circular image is dark red. Within the circular image there are images of packaged fast food items, such as French fries, soda, and a hamburger. Underneath this circular image, the words “Fast food” are bolded and written in black letters.

Directly above and to the right of the yellow step, there is a green step. The top right corner of the yellow step is connected to the bottom left corner of the green step. The green step is three-dimensional and is the second furthest step from the thin white horizontal line. Connected to the bottom of the green step is a thin white vertical line, which is slightly longer than the third thin white vertical line.

Directly beneath the thin white horizontal line and in line with the green step, there is a circular image. The background of the circular image is light blue. Within the circular image there is an image of a light brown building with four large windows and a front door with a sign on the left side of the building that says “RESTAURANT”. Underneath this circular image, the words “Family restaurant” are bolded and written in black letters.

Directly above and to the right of the green step, there is a blue step. The top right corner of the green step is connected to the bottom left corner of the blue step. The blue step is three-dimensional and is the furthest step from the thin white horizontal line. The blue step is directly below the word “WANT” and is in line with the top of the large red vertical arrow.

Connected to the bottom of the blue step is a thin white vertical line, which is the longest thin white vertical line. Directly beneath the thin white horizontal line and in line with the blue step, there is a circular image. The background of the circular image is orange. Within the circular image there is an image of a dining table with a fancy white table cloth and two wooden chairs on either side of the table. On top of the table there are two plates of food, two glasses of red wine, and a bottle of wine in the centre of the table. Underneath this circular image, the words “Fine dining” are bolded and written in black letters.

 

To improve your finances without hampering your lifestyle, you can make the decision to ‘step down’ the staircase to a less expensive alternative. Purchasing a good or service that is one or two steps down frees up money to save or spend on something else.

image of debtor with counsellor

If you have questions, write them down and bring them to your in-person counselling session.

 

Trade-off principle

Purchase options are limitless, but your financial resources are limited. Therefore, it's wise to consider the trade-off needed in order to purchase something.

 

  • What would I be willing to give up to have this item?
  • Can I accept the short and long-term consequences of this decision?
  • If this item is important, how can I make it fit into my purchase plan?
  • How much will this purchase really cost me in time, effort, money and lost opportunities?

 

Examples of trade-off

Did you know that the price of a basic coffee from the coffee shop is at least $2 more expensive than making the same cup at home. If you choose to make your coffee at home instead of buying one on the way to work, you could save approximately $500 annually.

Emilie really enjoys a nice cup of coffee. She splurges once a week at the local coffee shop. Emilie's local grocery store sells the same coffee beans so Emilie could make her favourite coffee at home every day.

The trade-off principle: example 1

An image of the trade-off principle
Description

This infographic shows a blonde woman in a pink shirt thinking about the trade-off cost between buying a cup of coffee versus making coffee at home.

This diagram has a light lavender background. In the bottom left corner of the diagram there is a circular image outlined in purple. The circular image has a white background and there is an image of a blonde woman in a pink shirt inside the circle. The blonde woman has her right hand on her hip and her left hand touching her chin to represent that she is thinking. The woman’s head is slightly tilted toward the right side of the diagram and she is looking in front of her.

To the right of the circular image in the center of the diagram there is large brown scale in the shape of an uppercase ‘T’. The scale is perfectly balanced on both sides. Along the top horizontal line of the scale, there are three circles. On each end of the top horizontal line there is a circle and these circles are equal in size. There is a slightly larger circle in the center of the line which connects to the vertical line of the scale. The bottom of the vertical line is attached to the base of the scale which is in the shape of a rectangle stacked on top of a slightly larger rectangle.

Extending from the bottom of the circle on the top left side of the scale, there are three white lines. Each of the white lines extends downwards to connect to a large tray on the left side of the scale. One of the white lines extends downward on a diagonal to the left and intersects with the circular image of the blonde woman in the bottom left corner of the diagram. This white line connects to the left side of the large tray. The middle white line extends straight downward until it connects with the top of a store-bought coffee cup, and the third line extends downward on a diagonal to the right to connect with the right side of the large tray. The large tray has a circular shape on the bottom which curves slightly downwards. The circular part of the tray is black. The top part of the tray is flat and is light grey. In the center of the tray there is an image of a single store-bought coffee cup. The coffee cup is white with a yellow label strip in the middle of the cup. In the center of the yellow strip, there is an image of a brown coffee bean. The coffee cup has a brown lid and there is an image of steam coming out of the top of the coffee cup. On the left side of the lid, there is an image of a yellow string sloping downwards to the left and then looping upwards to the right and around and back downwards to the left again. The string is attached to a yellow price tag that has “$3” written in the center of the tag in bold black letters.

On the right side of the diagram, there are three white lines which extend from the bottom of the circle on the top right side of the scale. Each of the white lines extends downwards to connect to a large tray on the right side of the scale. One of the white lines extends downward on a diagonal to the left to connect with the left side of the large tray. The middle white line extends straight downward until it connects with the top of a coffee mug, and the third line extends downward on a diagonal to the right to connect with the right side of the large tray. The large tray has a circular shape on the bottom which curves slightly downwards. The circular part of the tray is black. The top part of the tray is flat and is light grey. The top light grey part of the tray is covered in red coffee mugs filled with coffee. There are a total of seven coffee mugs and each mug is approximately the same size as the store-bought coffee cup on the left side of the diagram. Attached to the handle of one of the red coffee mugs on the right side of the tray is a yellow string. The yellow string slopes downward to the right and is attached to a blue price tag that has “$3” written in the center of the tag in bold black letters.

 

Emilie is considering a long weekend vacation. She also remembers that she needs new tires.

The trade-off principle: example 2

An image of the trade-off principle
Description

This infographic shows a blonde woman in a pink shirt thinking about the trade-off cost between buying new tires for her vehicle and a warm vacation.

This diagram has a light blue background. In the top right corner of the diagram there is a circular image outlined in purple. The circular image has a white background and there is an image of a blonde woman in a pink shirt inside the circle. The blonde woman has her right hand on her chin and her left hand holding her right elbow to represent that she is thinking. The woman’s face is worried and her head is slightly tilted downward toward the left side of the diagram and she is looking in front of her.

To the left of the circular image there is an image of a large scale. The base of the scale is dark yellow and it is in the shape of a vertical cylinder. In the center of the cylinder there is a black circle. There is a brown bar that extends horizontally through the cylinder. The scale is perfectly balanced on both sides.

On the left side of the scale, at the far left side of the brown bar, there is a short black rectangle on top of the brown bar. There is a large white tray on top of the black rectangle, and the large white tray has a circular shape on the bottom which curves slightly downwards. The top part of the tray is flat. On top of the tray there are three black car tires stacked on top of each other. To the right of these three tires there is another black tire leaning against the stacked tires. There is an image of a yellow string wrapped around the tire that is standing up. The yellow string loops upward to the right and then slopes downward and the string is looped through a blue price tag. The blue price tag has “$800” written in the center of the tag in bold white letters.

On the right side of the scale, at the far right side of the brown bar, there is a short black rectangle on top of the brown bar. There is a large white tray on top of the black rectangle and the large white tray has a circular shape on the bottom which curves slightly downwards. The top part of the tray is flat. On top of the tray there is a circle shaded in light yellow which covers almost the entire flat side of the tray. This circle represents sand. There is a dotted light grey line connected to the far left side of the yellow circle. The dotted light grey line slopes upward to the left and loops down and around and the slopes upward and to the right. The dotted light grey line connects to a white airplane flying next to two images of white clouds. Directly below the airplane, on the left side of the yellow circle, there is an image of martini glass with an orange slice hooked on the side of the glass. To there right of the martini glass, there is a red and yellow striped wooden beach chair with a green and white striped beach umbrella to the right of the beach chair. There is grey suitcase to the right of the beach umbrella and there is an image of a grey sunhat lying on the yellow circle to the right of the suitcase. There is an image of a white string wrapped around the bottom of the wooden sun chair. The white string slopes downward and to the right and is attached to a yellow price tag. The yellow price tag has “$800” written in the center of the tag in bold red letters.

 

Steve loves baseball and is considering season tickets to the local minor league club. His home internet package runs about the same cost as the season tickets.

The trade-off principle: example 3

An image of the trade-off principle
Description

This infographic shows a dark haired man in a dark t-shirt thinking about the trade-off cost between the monthly cost of baseball tickets and the monthly cost of internet.

This diagram has a grey background. In the top left corner of the diagram there is a circular image outlined in dark blue. The circular image has a white background and there is an image of a dark haired man in a dark t-shirt inside the circle. The man has his right hand on her hip and his left hand on his temple to represent him thinking. The man’s head is slightly tilted toward the left side of the diagram and he is looking at the image in front of him.

To the right of the circular image there is an image of a large scale. The base of the scale is dark yellow and it is in the shape of a vertical cylinder. In the center of the cylinder there is a black circle. There is a brown bar which extends horizontally through the cylinder. The scale is perfectly balanced on both sides.

On the left side of the scale, at the far left side of the brown bar, there is a short black rectangle on top of the brown bar. There is a large white tray on top of the black rectangle, and the large white tray has a circular shape on the bottom which curves slightly downwards. The top part of the tray is flat. On top of the tray there are two baseball tickets stacked on top of each other. The tickets are red and the word “BASEBALL” is written in the center of the tickets. Behind the word “BASEBALL” there are two bats in an ‘X’ formation and an image of a baseball below the word “BASEBALL”. To the left of the word “BASEBALL” there is a black barcode, and to the right of the word “BASEBALL” there is a white image of a baseball player at bat. There is an image of a beige string touching the bottom right corner of the top baseball ticket. The beige string slopes downward and to the left and then loops up and around and back down to the left. The beige string is looped through an orange price tag. The orange price tag has “$60 per month” written in the center of the tag in bold black letters.

On the right side of the scale, at the far right side of the brown bar, there is a short black rectangle on top of the brown bar. There is a large white try on top of the black rectangle, and the large white tray has a circular shape on the bottom which curves slightly downwards. The top part of the tray is flat. On top of the tray there is an image of a blue circle with three curved blue lines directly above the blue circle. The blue lines wrap around the top edge of the blue circle and are equally spaced out. The lines get bigger in length the further they are from the blue circle. The blue circle and the three blue lines form the shape of an upside down triangle with the top of the image being slightly curved upwards to form a circular shape. This image represents a ‘Wi-Fi’ symbol. Directly above this image, the word “INTERNET” is written in capital black letters. There is an image of a beige string wrapped attached to the left side of the first blue line. The beige string slopes downward and to the left and is attached to a red price tag. The red price tag has “$60 per month” written in the center of the tag in bold white letters.

 

Below is a video example of the trade-off principle. This video represents the number of hours worked in order to make a certain purchase.

Transcription — Trade-Off Principle

[Emilie is walking into a fitness center.]

Narrator: This is Emilie.

[Emilie approaches the receptionist of the fitness center.]

Narrator: Emilie wants to buy a gym membership at the gym near her work.

[The receptionist tells Emilie that the fitness center membership is $60 per month.]

Narrator: The cost of the membership is $60 per month.

[The scene changes to Emilie standing on the right side of the screen and a bubble appears on the left side of the screen. Within the bubble there is an image of a card with the words ‘Fitness Center Membership’ written in the center and the term ‘$60/month’ is written below the image of the card.]

Narrator: In order to put the cost into perspective, she considers how many hours she would have to work in order to pay for the membership.

[The contents within the bubble disappear and an image of Emilie sitting at her desk on the phone at work appears within the bubble.]

[The image of Emilie sitting at her desk on the phone at work disappears and an image of a clock with the hands moving rapidly in a clockwise direction appears within the bubble. The following text is displayed below the clock ‘Paid $20/hour’.]

Narrator: Emilie gets paid $20 per hour at her job.

[The contents within the bubble disappear and the image of the card with the words ‘Fitness Center Membership’ appears within the bubble. To the right of the card there is an equals sign with the text ‘3 hours of work (per month) written to the right of the equals sign.]

Narrator: Therefore the cost of the monthly membership is about 3 hours of work per month.

[The scene changes back to Emilie at the receptionist desk of the fitness center. A thinking bubble appears to the left of Emilie’s head and an image of a scale appears within the thinking bubble. On one side of the scale there is an image of the card with the words ‘Fitness Center Membership’ written in the center, and on the other side of the scale there is an image of a clock.]

Narrator: Emilie must evaluate whether or not the gym membership is worth the 3 hours of her time at work each month.

[The screen zooms in on Emilie and she has her hand to her chin in a thinking position.]

[The scene changes to Emilie walking out of the fitness center.]

Narrator: Consider using this concept when making purchase decisions.

[The scene changes to Emilie sitting in an office setting with her BIA Insolvency Counsellor.]

Narrator: At your in-person counselling session, discuss the trade-off principle with your BIA Insolvency Counsellor.

Think about the images and video presented above. Can you think of trade-off purchases in your life? Remember to keep these images in mind when making decisions about what to purchase.

image of debtor with counsellor

If you have questions, write them down and bring them to your in-person counselling session.

 
 

1-2-3 system

Another helpful way to set spending priorities is the 1-2-3 system. This system lets you rate all of your expenses on a scale from 1 to 3. You should prioritize purchasing all your category 1 expenses first, category 2 expenses second, and category 3 expenses last. For example:

The 1-2-3 system

An image of the 1-2-3 system
Description

This diagram is divided into three main columns. Each column is equal in size and has three main rows which vary in size, but are equal across the three columns. The first column on the far left side of the diagram is titled “Category 1”, the second column in the middle of the diagram is titled “Category 2”, and the third column on the far right side of the diagram is titled “Category 3”.

The first column on the left side of the diagram titled “Category 1” is blue. The top row of the “Category 1” column is shaded in dark blue. In the center of the top row of this column, the word “CATEGORY” is written in white in all upper case letters, and the number “1” is written in light blue directly below. Directly below this row, in the same column, there is another row which is approximately half the size of the row above. This second row in the “Category 1” column is shaded in a slightly lighter blue than the row above. The words “Items that are essential for healthy living” are written on the left side of the column in black letters. Directly below this row, in the same column, there is another row which is shaded in a slightly lighter blue than the row above. At the top of this section, the word “food” is written in black letters. Slightly to the right of the word “food” there is an image of a solid white circle. Within the solid white circle there is an image of a water bottle, a bowl of salad, a tomato, and a carrot. In the middle of the same section, the word “shelter” is written in black letters. Slightly to the left of the word “shelter” there is an image of a solid white circle. Within the solid white circle there is an image of a simple light grey house with a red roof and a large tree to the left of the house. At the bottom of this section, the word “clothing” is written in black letters. Slightly to the right of the word “clothing” there is an image of a solid white circle. Within the solid white circle there is an image of a beige clothing rack with a blue shirt, a grey pair of pants, and a yellow dress hanging each on separate hangers on the clothing rack. Along the bottom of the “Category 1” column there is a very small section shaded in the same shade of blue as the colour in the top row of the column.

The top row of the “Category 1” column of the diagram has a slight directional indicator pointing to the right towards the top of the “Category 2” column. The “Category 2” column is in the middle of the diagram and it is red. The top row of the “Category 2”column is shaded in dark red. In the center of the top row of this column, the word “CATEGORY” is written in white in all upper case letters, and the number “2” is written in light red directly below. Directly below this row, in the same column, there is another row which is approximately half the size of the row above. This second row in the “Category 2” column is shaded in a slightly lighter red than the row above. The words “Items that are not essential but are important” are written on the left side of the column in black letters. Directly below this row, in the same column, there is another row which is shaded in a slightly lighter red than the row above. At the top of this section, the words “bicycle or transit pass” are written in black letters. Slightly to the right of the words “bicycle or transit pass” there is an image of a solid white circle. Within the solid white circle there is an image of a blue bicycle facing towards the right side of the diagram. In the middle of the same section, the words “running shoes” are written in black letters. Slightly to the left of the words “running shoes” there is an image of a solid white circle. Within the solid white circle there is an image of a pair of red and blue running shoes with white laces. At the bottom of this section, the words “cell phone” are written in black letters. Slightly to the right of the words “cell phone” there is an image of a solid white circle. Within the solid white circle there is an image of a black smart phone with a blue screen. Along the bottom of the “Category 2” column there is a very small section shaded in the same shade of red as the colour in the top row of the column.

The top row of the “Category 2” column of the diagram has a slight directional indicator pointing to the right towards the top of the “Category 3” column. The “Category 3” column is on the far right side of the diagram and it is yellow. The top row of the “Category 3”column is shaded in dark yellow. In the center of the top row of this column, the word “CATEGORY” is written in white in all upper case letters, and the number “3” is written in light yellow directly below. Directly below this row, in the same column, there is another row which is approximately half the size of the row above. This second row in the “Category 3” column is shaded in a slightly lighter yellow than the row above. The words “Items that are not essential and not important” are written on the left side of the column in black letters. Directly below this row, in the same column, there is another row which is shaded in a slightly lighter yellow than the row above. At the top of this section, the words “candy bars” are written in black letters. Slightly to the right of the words “candy bars” there is an image of a solid white circle. Within the solid white circle there is an image of a chocolate bar with a bite taken out of the top right corner and the wrapper of the chocolate bar is yellow. In the middle of the same section, the words “spa treatment” are written in black letters. Slightly to the left of the words “spa treatment” there is an image of a solid white circle. Within the solid white circle there is an image of a green ticket with the word “Spa” written on the right side of the ticket in white letters. There is also an image of a leaf and the profile of a person’s face on the ticket. At the bottom of this section, the words “music downloads” are written in black letters. Slightly to the right of the words “music downloads” there is an image of a solid white circle. Within the solid white circle there is an image of a light grey cloud in the center of the circle with a large green downward facing arrow in front of the cloud. There is an image of a white music note in the center of the green arrow. Along the bottom of the “Category 3” column there is a very small section shaded in the same shade of yellow as the colour in the top row of the column.

 

Now that you have reviewed the step principle, the trade-off principle and the 1-2-3 system, which of these ways of prioritizing your spending do you think would work best for you? Try making a habit of using at least one of those ways.

There are many different ways to prioritize spending and everyone is different. If you feel the options above do not suit you, do not give up or get discouraged. Look for other ways and discuss different options with your counsellor.

image of debtor with counsellor

If you have questions, write them down and bring them to your in-person counselling session.

 

You just learned about practical ways to help prioritize spending. When prioritizing, be sure to consider the entire cost. Often there are additional costs that follow the original purchase.

Consider the example of purchasing a pet. Besides the original purchase price, there are other costs of owning a pet.

Considering all the costs of your decisions

An image of all the costs to consider when purchasing a pet
Description

The diagram represents all of the additional costs to consider when purchasing a pet dog.

The background of the diagram is a gradient blue. The center of the diagram is a very light blue and the background gradually becomes a darker shade of blue as it approaches the outside edges of the diagram. The title of the diagram is at the top of the image in the center and it says “Actual Cost of Owning a Pet Dog”. In the middle of the diagram there is an image of dog. The dog is golden with dark brown ears and a dark brown tail. The lower part of the dog’s face is light beige dog and the dog also has a light beige stomach. The dog is very happy with large golden eyes and the dog’s tongue is hanging out of its mouth. There is a beige string hanging from the dog’s right ear on the left side of the image. The string slopes downwards and then loops upward and around and back downward again. The string is attached to a yellow price tag that has a large dollar sign written in black in the center of the price tag.

Around the image of the golden dog with the price tag, there are eight other images of yellow price tags with golden strings attached to the end of the price tags. There is a different image on each price tag to represent the various different costs associated to owning a pet dog.

To the left of the dog, in the top left corner of the diagram, there is an image of a yellow price tag with a beige string attached to the end of the tag. On the front of the price tag there is an image of a red dog leash. Slightly below and to the right of the dog leash price tag, there is another yellow price tag with an image of dog food and a dog bowl on the tag. Slightly below and to the left of this price tag, there is another yellow price tag with an image of a red safety kit on the tag. Next to the image of the red safety kit, there are also images of a needle, a pill, and animal medication on the price tag. Slightly below and to the right of this price tag, there is another yellow price tag with an image of a white bone and a wooden dog house with a red roof.

On the right side of the dog, in the top right corner of the diagram, there is an image of a yellow price tag with a beige string attached to the end of the tag. There are images of dog toys in the center of the price tag. Slightly below and to the left of this price tag, there is another yellow price tag with an image of red dog collar on the price tag. Slightly below and to the right of this price tag, there is another yellow price tag with an image of a green dog crate in the center of the price tag. Slightly below and to the left of this price tag, there is another yellow price tag with an image of a brown dog bed in the middle of the price tag.

 

Buying a pet is not the only purchase which results in additional costs and payments. There are many other examples of purchases that end up costing more than their original purchase price. Buying a house, buying a car, and going away for school are all examples of purchases with additional costs.

image of debtor with counsellor

If you have questions, write them down and bring them to your in-person counselling session.

 
 

Consider taking a 5-10 minute study break at this point!

image of an hourglass
 
 
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