Household debt is rising rapidly in Canada. While much of the blame can be attributed to the attractiveness of super low interest rates, mortgage debt and rising house prices, individually you may have more debt because of the way you borrow and make payments. People frequently do not know the full terms and conditions of […]
Popular wisdom says that personal debt builds when you live beyond your means, using credit to pay for what you can’t afford. All true, but what about the family that doesn’t live large, isn’t taking a vacation every year, yet find themselves facing a boatload of debt? Here are 5 reasons why your debt might […]
Transitioning from employee to consultant isn’t easy no matter how you get there. Some make a conscious decision to start up a business on their own, others shift into the role of consultant after a job loss. Regardless, if not planned out carefully, the migration from employee to consultant can lead to unexpected personal debts […]
You’ve been planning your wedding down to the last small detail including the big question – how are we going to pay for this? Should you take out a wedding loan or use your credit card to cover some of the costs of your wedding or honeymoon? Let’s consider the concept of good debt and bad […]
Overdraft protection seems like a good idea. You pay a service fee to cover you for the unfortunate time or two, that your bank account is temporarily short of funds, avoiding costly returned or NSF cheque charges and the embarrassment of having your payment bounce. According to one big Canadian bank “it helps you manage […]
Most people would agree that it’s almost impossible to live without a credit card today. We no longer operate in a cash only society, in fact the use of cash to pay for things is on the decline in Canada. Without a credit card you can’t easily book a hotel room or make a purchase […]
A popular question on our Facebook is what happens when you stop paying your debts? On today's show, I sit down with Ted to discuss the consequences of defaulting on your loans and payments, and offer a solution better than walking away from your debts.
If you owe $5,000 on a credit card your minimum payment is $100. In all likelihood you can afford to pay more than that in order to reduce your balance. Owe $25,000 in credit card debt and your minimum credit card payment is $500. Now you’re reaching the territory where all you can afford is the […]
Listen to our full podcast for tips on how to protect yourself from identity theft and fraud from author and personal finance expert Kelley Keehn. Kelley's newest book is Protecting You and Your Money, a Guide to Avoiding Identity Theft and Fraud.
Alyssa Furtado, founder of Ratehub.ca explains why it's important to compare financial products to get the best rates and features for your financial situation.