Many Canadians rely on credit cards for emergency funds. Is this a good idea? Doug Hoyes explores whether credit cards are OK to use in an emergency and whether to pay off credit card debt or create a rainy day fund.
Do you have a financial plan in case any unexpected life events occur? Doug Hoyes discusses your financial risk, how to reduce potential financial trauma and how you can eliminate any financial weaknesses.
Whether you are about to start your post-secondary education, start a family, or are headed for retirement, debt problems can happen at any age. While the average person who files for bankruptcy in Canada is... Read more »
What is an emergency fund? An emergency fund is money that is available to meet unexpected expenses. You may be managing your current budget, but life tends to throw curveballs. Emergencies like a job loss... Read more »
Carrying debt into retirement is risky. An early retirement due to illness or job loss can derail your repayment plans. Making debt payments on a fixed income is difficult. Here are five types of debt you... Read more »
How fast do you pay off your monthly credit card charges? People frequently do not know the full terms and conditions of their credit cards, bank loan or line of credit. Do you know what... Read more »
As you enter your 30’s and 40’s, you are likely entering a period of many milestones: marriage, family, a new home, perhaps a career change. If you had good financial habits during your 20’s you... Read more »
There is significant evidence that it is harder to save today than it was for our parents and grandparents. Tax rates are higher, housing costs are out of reach for many first time home buyers,... Read more »
Raising a child on a single income is challenging enough, and the financial impact of job loss for single parents can be catastrophic. Without an adequate emergency fund, a job loss increases the likelihood that... Read more »
Starting out on your own is exciting, but it comes with a responsibility to make sound financial decisions. Making good financial choices from a young age will have an impact on your financial health for years.... Read more »
Debt problems are stressful. They are difficult to deal with as an individual and can tear apart adult relationships; so it’s pretty obvious why it may be tempting not to talk to your kids about your... Read more »
Who’d have thought that there would be companies fighting over who gets to help people in dire financial situations, but there are. In fact, it is big, BIG business. There are people that specialize in... Read more »
Financial literacy doesn’t have to be complicated. Sometimes it’s the simple things that help us manage our money better. Understanding some simple facts about how credit works can help you make better choices about borrowing and debt... Read more »