Are online only banks right for you in Canada?

Online banks in Canada. Which should you go with? If you’re older, you remember very well standing in long lines on a Friday afternoon to cash your paycheque or pay a bill. Those days are long behind us. Today we are all accustomed to the convenience of online banking. And online banking has been around…

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A home equity loan vs a Reverse Mortgage in Canada

As a home owner, you probably know already that your home is a valuable asset.  When you find yourself short of money, it proves an almost guaranteed way to get a yes from the majority of lenders.  Non-bank lenders especially are very keen on lending money to home owners. 

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Your credit score and simple ways to improve it

Rebuilding your credit - Prudent Financial

Credit Scores and How you can improve yours With Canadians facing an unprecedented social and economic crisis, it can be a challenge to keep up with monthly payments. Many are focussed on getting through the pandemic and caring for their physical and mental well-being. If you can manage to keep up with finances now, it…

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The Basics of budgeting and taking on new debt


People can fall into debt for a variety of reasons, the majority of which are specific to your financial situation. People sometimes fall into debt because of circumstances out of their control and of no fault of their own. Inability to pay bills, student loans, credit card debt and other expenses on time leads to…

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Preparation for the Second Wave and your finances

Canadians have been continuously warned of the dangers of Covid-19 and impact of not taking health and social distancing guidelines seriously. The term “second wave” has been used constantly by politicians and public health experts to warn of the potential for a spike in cases. Chief Public Health Officer Dr. Theresa Tam has repeatedly warned…

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Money saving tips when you’re impacted by Covid-19

In a short span of time, the pandemic has created a “new normal” for Canada and the World.  The vast majority of industries have been heavily impacted by the pandemic; especially  travel and hospitality. For instance, Airbnb CEO and Cofounder Brian Chesky stated in Travel-Has that “travel has changed forever” and “The World of travel…

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Should I only make the minimum payment on my credit card?

Credit cards can be a huge help when we need to buy things online.  And especially when we are moving closer to a cashless society.  But it goes without saying, we need to be careful about amassing amounts on a card that we can’t pay off in full each month.   Paying off just the…

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Can a Second Mortgage be beneficial in the GTA?


A Home Equity Loan (also known as Second Mortgage) is essentially another loan separate from your original mortgage with a lien on property in second position. A lien is the right to possess and seize property under circumstances explained in your mortgage documents.

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Car Financing in a Crisis

We know, we know – with the novel coronavirus (COVID-19) ongoing, people are driving a lot less. But not everyone can stay off the roads. Essential workers such as nurses, doctors, grocery store clerks, construction workers, and more have to get to work somehow. And for most, that means taking their own vehicles. In this…

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