Personal finance is a subject in which popular advice often seeks to empower people and help them create freedom from everyday constraints. The self-stated finance gurus of the world might pin financial duress on a lack of belief or a lack of discipline, perhaps best exemplified by the idea that one might cut out the indulgence of one’s daily cup of coffee in order to start down the path to full coffers and a plush retirement.
In responseÂ this sort of quick-fix, othersÂ might advise: drinkÂ your coffee! Addressing financial health with solutions such as these puts agency in the hands of the consumer, but it neglects to consider the wider economic and social context that gets people into debt in the first place.
Such, at least, is the reasoning of author Helaine Olen, whose recent bookÂ Pound FoolishÂ takes an uncompromising look at both the causes of, and the attempts to solve, rising personal debt. Olen notes: “… reducÂing our caffeine consumption will not offset our biggest expenses: housing, education, health care, and retirement.”
There’s a reason that the team at Progressa takes the time we need to build a plan for fair access to capital that works right for you. Much the same way as Olen, we believe that there’s no single “instantaneous trick” to achieving sustainable financial health. Some of theÂ principles are indeed simple – Â prioritize your outstanding payments, set a savings goal based on a realistic set of needs and stick to it – Â but their execution takes care and planning. Access to capital is one of the components of a larger strategy, and Progressa was created to help bridge that gap while helping Canadians develop the bigger-picture financial plan that they need.