Inflation is on the rise, meaning the cost of pretty much everything is going up, and a financial advisor is offering some tips to keep debt in check.

Nancy Sneddon, President and Licensed Insolvency Trustee at BDO Canada, says 70 per cent of people are worried about their finances, and 40 per cent say they’re carrying too much debt.

She says although there are lots of options to raise credit limits and apply for additional loans, now is not the time to be going down that road, as it would just add to the person’s debt-load

She says people should scrutinize their monthly budget and come up with a plan to pay down their debt.

If that isn’t possible, she encourages people to reach out for help.