Studholm
Expert Debt Solutions - Consumer Proposals & More
Studholm, debt relief, New Brunswick
Studholm, a serene rural community in New Brunswick, Canada, offers a close-knit atmosphere amidst natural beauty but presents financial challenges for residents. Limited high-paying job opportunities and lower wages make it difficult to cover basic needs and debts. The lack of diverse employment options and transportation issues add to financial stress, impacting residents’ ability to achieve debt relief.
City: Studholm
Province/Territory: New Brunswick (NB), Canada
Est. Population: 3,522
Financial Challenges
Living in Studholm, New Brunswick can be tough for people who are struggling with money. There aren’t many high-paying jobs available, so it can be hard to earn enough to cover basic needs like food, rent, and utilities. Because Studholm is a small rural community, there are fewer businesses and opportunities compared to bigger cities. This means that if someone loses their job, finding a new one quickly can be very difficult. Additionally, the cost of housing might still be high, making it hard for families to afford a comfortable place to live.
Working in Studholm also comes with its own set of financial challenges. Many jobs in the area pay lower wages, which makes it hard to save money or pay off debts. With fewer job options, people might have to take whatever work is available, even if it doesn’t pay well or match their skills. Transportation can be another issue, as there might not be many public transit options, forcing people to spend more on cars and fuel. All these factors combined can make everyday life stressful for those trying to manage their finances in Studholm.
Debt Relief Solutions Available
Financial Planning
Financial planning means making a smart plan for your money. It helps you budget, set goals, and save for the future. With a plan in place, you can feel more in control of your money and avoid falling into debt again.
Find out more about Financial PlanningDebt Management Plan
A Debt Management Plan, or DMP, helps you pay back what you owe in one simple monthly payment. A credit expert talks to your creditors to lower your interest and make the debt easier to handle.
Find out more about Debt ManagementDebt Consolidation
Debt consolidation means putting all your debts—like credit cards and loans—into one new loan. This new loan usually has a lower interest rate, which can help you save money and pay off your debt faster.
Find out more about Debt ConsolidationDebt Settlement
Debt settlement means offering less than the full amount you owe to clear your debt. Creditors may accept it because they get paid quickly. A debt settlement company usually helps with this process.
Find out more about Debt SettlementConsumer Proposal
A consumer proposal is a legal deal between you and the people you owe. You agree to pay back part of your debt in smaller monthly payments. A Licensed Insolvency Trustee helps make the plan and talks to your creditors for you.
Find out more about Consumer ProposalsBankruptcy
Bankruptcy is a legal way to clear most of your debts if you can’t pay them back. It gives you a fresh start, but it can also hurt your credit score for several years.
Find out more about Bankruptcy
*Illustration of Studholm, New Brunswick
Debt Data
This table includes estimates on the number of residents who are experiencing financial stress situations. You are not alone.
| Item | Description | Estimated |
|---|---|---|
| Living paycheck to paycheck | Number of residents who are living paycheck to paycheck | 1,655 |
| Living in poverty | Number of residents who are living in poverty | 391 |
| Debt defaulted | Number of residents who have defaulted on a debt payment | 38 |
| Insolvencies | Number of residents who filed for insolvency | 9 |
| Consumer proposal | Number of residents who filed for a consumer proposal | 7 |
| Personal bankruptcy | Number of residents who filed for personal bankruptcy | 2 |
The estimates above are based on the following ratios living paycheck to paycheck rate (47%), poverty rate (11.1%), delinquency rate (1.09%), insolvency rate (0.25%), consumer proposal rate (0.19%), personal bankruptcy rate (.06%) from the following sources leger360.com, statcan.gc.ca, consumer.equifax.ca and is, d-isde.canada.ca.
Elimiate up to 80% of Your Debt
High cost of gas, high cost of groceries, high lending rates, low salary - being in debt is not your fault! See if you qualify for government debt programs and get out of debt today!
Areas / Neighbourhoods
Riverview: A picturesque community known for its family-friendly atmosphere and close-knit neighborhoods, offering a mix of residential homes and recreational spaces, including parks and walking trails along the Petitcodiac River.
Hillsborough: This charming village is recognized for its quaint downtown area featuring local shops and cafes. It is surrounded by scenic landscapes and is popular for outdoor activities such as hiking and biking.
Moncton: While not directly within Studholm, Moncton’s close proximity makes it a vital hub for residents. It boasts a vibrant cultural scene, numerous amenities, and a range of recreational options, making it a go-to destination for shopping and entertainment.
Sackville: Located nearby, Sackville is known for its beautiful architecture and vibrant arts community. Home to Mount Allison University, it offers a youthful atmosphere with various cultural events and festivals throughout the year.
Port Elgin: A small coastal community that provides easy access to beautiful beaches and outdoor activities. Its relaxed vibe, along with local seafood restaurants, makes it a popular choice for summer visitors and residents alike.
Illustration of Studholm, New Brunswick, Canada
Cost of Living
This table provides a breakdown of various average cost-of-living expenses in Studholm, Canada to help understand the financial requirements for different living situations.
| Item | Description | Average Cost |
|---|---|---|
| Housing (1BR) | Monthly rent for a 1-bedroom apartment | $850 |
| Housing (2BR) | Monthly rent for a 2-bedroom apartment | $1,200 |
| Average Home Price | Average price to purchase a home | $288,000 |
| Utilities | Monthly cost for electricity, heating, water, and garbage | $200 |
| Food (Single) | Monthly grocery cost for a single person | $300 |
| Food (Family) | Monthly grocery cost for a family of four | $850 |
| Healthcare (Rx) | Monthly cost for prescription medications | $35 |
| Healthcare (Dental) | Monthly cost for dental care | $200 |
| Healthcare (Vision) | Monthly cost for vision care | $225 |
| Transportation (Public) | Monthly cost for public transit | $850 |
| Transportation (Car) | Monthly cost for car ownership | $550 |
| Childcare (Daycare) | Monthly cost for daycare | $900 |
| Childcare (After-School) | Monthly cost for after-school programs | $350 |
The cost of living data is based on provincial averages and may differ between cities, towns, and rural areas.
Top Questions
- What is the average cost of living in Studholm, New Brunswick?
- How does the job market in Studholm compare to other areas in New Brunswick?
- What are the housing prices like in Studholm for renters and buyers?
- Are there any local programs or resources to assist residents with financial challenges in Studholm?
- What is the economic outlook for Studholm in the next few years?
- How do property taxes in Studholm compare to neighboring areas?
- What are the main industries driving the economy in Studholm?
If you have a question about debt see our debt related question or ask your own debt related question.
Overview
Studholm is a small rural community located in New Brunswick, Canada, known for its peaceful atmosphere and natural beauty. The area is characterized by open spaces, forests, and waterways, offering residents and visitors opportunities for outdoor activities such as hiking, fishing, and exploring nature. It has a close-knit community feel, where neighbors often know each other and local events bring people together. The region reflects the charm of rural life, with a slower pace and a focus on community connections, making it an appealing place for those who enjoy a quieter lifestyle away from the hustle and bustle of city life.
Eliminate up to 80% of Your Debt
High cost of gas, high cost of groceries, high lending rates, low salary - being in debt is not your fault! See if you qualify for government debt programs and get out of debt today!