Archive for 2018
Credit Focus: A Small Bad Debt Doesn’t Have to Destroy Your Credit
You know the old cliché about small things making a big difference? If you have a small amount of bad debt, that saying can come true. Even a small amount of bad debt can significantly harm your credit. The minimum for a consumer proposal is $8,000, but many people have debts under that amount that…
Read MoreIncreasing Canadian Interest Rates – How to Avoid Rising Payments
There’s no doubt about it — Canadian interest rates are increasing. Since July of 2017, Canadian interest rates have increased three times, going from 0.5% to 1.25% — the highest they’ve been in nine years. And if trends continue as expected, this is just the start. Officials from the Bank of Canada have said that…
Read MoreLow Budget Travel – Spring Break Vacations for Canadians
Spring Break vacations are the perfect getaway — the weather is cold and long in Canada, the kids are out of school, and everyone you know is posting fabulous holiday pictures on social media. You want to travel too, but you also don’t want to rack up your debt. You can have your vacation without…
Read MoreCRA Tax Deadline 2017-2018 is Right Around the Corner – Are You Ready?
Unpaid taxes represent a considerable amount of Canadian household debt. If you’re one of those finding themselves in this situation, there are steps you can take before the CRA tax deadline for the 2017-2018 year. If you have or will have a tax debt, you will need a financial plan. It’s best to be proactive.…
Read MoreLow-Budget Valentine – Money Saving Tips for Valentine’s Day in Toronto
Valentine’s Day in Toronto comes but once a year and if you’re coupled up, you want to make the most of it. But how can you do that if you’re on a tight budget, or if you’ve been diligently repaying old debts? Our money-saving tips can help you stay focused on romance, not your bank…
Read MoreBuying a Car in Ontario – Top 5 Tips You Never Thought About…
Buying a car — whether it’s brand new or new-to-you — is a big decision. And there’s a lot to consider. It can be difficult to keep in mind everything you need to ask. But asking the right questions, especially if you’re buying a used vehicle, is essential for saving you time and money in…
Read MoreBOC Interest Rate Up to 1.25%: What to Do If You’re Drowning in Debt
We’re less than three weeks into 2018, but already we’ve got some big news: the Bank of Canada (BOC) interest rate has increased again. On January 17, 2018, the BOC interest rate rose to 1.25%. This is the highest it’s been in nine years, according to the Huffington Post. The BOC interest rate affects all…
Read MoreIs Another Bad Credit Loan Really the Answer?
Maybe this sounds like a familiar scenario — you’re in financial trouble and your credit is shot, so you take out a bad credit loan to pay your bills and start rebuilding credit. Only you can’t pay your bad credit loan on time, so you take out another loan to pay the first one. Then…
Read MoreMortgage Refinancing in an Uncertain Housing Market
It’s no secret that Canada’s real estate market has been going through changes. With increased Bank of Canada interest rates, new Canadian mortgage rules, and Canadian household debt higher than ever, there’s a lot of uncertainty in the air. It can be tough as a homeowner to know the best course of action — especially…
Read MoreHow to Get Bad Credit Loans Without Getting Scammed
Unfortunately, the old saying can be true — it’s a dog eat dog world out there. And that can be made even more apparent if you’re seeking bad credit loans. When you have bad credit, you are more vulnerable. Less people want to loan to you, so the people who will do so make you…
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