01 May 2015

Raymond Chabot’s awareness campaign “Ne perdez pas vos moyens” on healthy personal financial management launched on April 13, 2015 has been highly successful in Quebec. A vast number of French-language media outlets across the province relayed the campaign message in over one hundred newspaper and web articles and radio and television programs.

Our experts Eric Lebel, Stéphane Gauvin, Éric Morin and Marc Lafrenière, bankruptcy partners in the Brossard, Rimouski, Chicoutimi and Gatineau offices respectively, gave over 80 media interviews to make Quebecers aware of the importance of properly managing their personal finances.

They also participated in numerous programs, including Salut Bonjour! on TVA, Ici RDI and Le midi trente on Radio Canada, Mario Dumont’s program on LCN as well as Ça commence bien! on V Télé. Additionally, they were heard on various radio programs, including Normandeau-Duhaime on CJMF FM 93.3, Médium large on SRC and Solide comme le Roch on CKOF FM 104.7. Lastly, they contributed to several newspaper articles in Journal de Montréal, Journal de Québec, Le Soleil, Le Nouvelliste, and Le Droit, to name but a few.

Comedian Laurent Paquin, who experienced financial difficulties of his own in the past, lent his support to Raymond Chabot’s campaign.

In a series of capsules that went viral, Laurent Paquin provides advice based on his own experience.

You can view the capsules and share them on www.raymondchabot.com/conseils.

Personal finances: 50% of Quebecers are worried about the future

As part of the cross-Quebec campaign, Raymond Chabot experts commented on the results of a CROP survey conducted for the firm that dealt with Quebecers’ relationship with their personal finances. According to this survey, nearly one in two people in Quebec is experiencing financial difficulties.

In light of this alarming situation, the experts at Raymond Chabot urge people to break the money taboo and to seek help when they are a difficult situation. Here a few tips, taken from various media interviews.

Some expert advice

  • Prepare a budget and stick to it

Marc Lafrenière emphasizes the importance of preparing a budget and sticking to it. “This is crucial for sound personal finances and to get a true picture of your situation,” he explained in Le Droit and other media outlets, in particular CHOT TV (TVA Gatineau/Ottawa), CKOF Outaouais FM 104.7, CBOF ICI Radio Canada Première FM 90.7, CKLX Radio 9 FM 91.9, FM1047.ca and ICI.Radio-Canada.ca.

  • Don’t confuse “need” with “want”

Éric Morin noted that, increasingly, people who come to his office get their pay and spend it right away. To avoid impulse buying, he recommends that they analyze their expenses, so they don’t confuse “need” with “want”.

His analysis and recommendations may be found in several articles, radio, web and TV interviews: Le Quotidien (Chicoutimi), CKTV ICI Radio Canada (Jonquière), CFRS TV (V média Jonquière), CKYK Radio X FM 95.7 (Saguenay), CFGT Planète 104.5 FM (RNC Saguenay), CBJ ICI Radio-Canada Première FM 93.7 (Chicoutimi), Ici.Radio-Canada.ca (Région Saguenay), 98.5 FM, FM 104.7 and VTele.ca.

  • Include “fun” in your budget and build a cushion to deal with the unexpected

In an article published in La Tribune, partner Eric Lebel advises that 5% of net income be set aside for “fun”, so that planned expenses are realistic. He also recommends exercising caution and estimates that everyone should have a cushion of about three months’ worth of salary to deal with anything unexpected.

You can find other advice given by Eric Lebel during his media tour to raise awareness about healthy personal financial management on estrieplus.com, in Finance et Investissement, on Rougefm (Estrie), 107.7 FM, ICI Radio Canada (Montréal), Cite Rouge FM 102.7, TVA Nouvelles, Argent, LCN, ICI RDI and several others.

  • Don’t isolate yourself and don’t hesitate to get help

Partner Stéphane Gauvin, whose numerous media interviews were heard on TVA, Radio X, FM93, FM 106.9, CJE FM 91.9, CJMF FM 93.3, CHNC Rock Country FM 107.1, CKOB MAURICIE FM 106.9, and CBV ICI Radio Canada Première FM 106.3, recommends that you not isolate yourself and that you don’t try to hide your personal financial difficulties.

“On the contrary, in such a situation, you need to get information, talk about your circumstances, get the right help,” he explained in Le Soleil. “Talking about money should no longer be taboo, you need to get your peace of mind back, to do this, you have to get help and support.”

For more tools and advice, visit our site: https://www.raymondchabot.com/en/.