by Prudent Financial Services | Nov 4, 2020 | Advantages of Bankruptcy, Bad Credit Borrowing, Bankruptcy in Canada, Bankruptcy Loans, Canadian Consumer Debt, Consolidating Debt, Consumer Proposal, consumer Proposal in Ontario, Covid-19, Credit After Bankruptcy, Equity Loans, Financial Counselling, Getting Out of Debt, Interest Rates, Proposal Loans
Covid-19 and your Finances Two types of emergencies exist that can impact your financial situation. The first type of emergency is when you suddenly have to pay a large unexpected expense (i.e. car repair). The second type of crisis is when your income is unexpectedly...
by Prudent Financial Services | Sep 30, 2020 | Bad Credit Borrowing, Canadian Consumer Debt, Covid-19, Financial Planning, Getting Out of Debt
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...
by Prudent Financial Services | Mar 25, 2020 | Canadian Consumer Debt, Consumer Debt, Debt Freedom, Financial Planning, Financial Problems, Getting Out of Debt, Prudent Financial
Recent news reports have indicated a troubling situation for Canadian consumer debt. For the first time ever, Canadians have more than $100 billion in credit card debt, according to TransUnion Canada. Forecasts also predict that the average Canadian’s non-mortgage...
by Prudent Financial Services | Mar 20, 2020 | Bank of Canada Interest Rate, Canadian Consumer Debt, Canadian Interest Rate, Consumer Debt, Financial Problems, Interest Rates, Prudent Financial
These past couple weeks have been enormously difficult for many Canadians due to the outbreak of the novel coronavirus, COVID-19, and subsequent measures to “flatten the curve.” While these undertakings are aimed to keep the public safe and reduce infection risk,...
by Prudent Financial Services | Mar 4, 2020 | Bank of Canada Interest Rate, Canadian Consumer Debt, Canadian Interest Rate, Interest Rates
The Bank of Canada interest rate is now at 1.25% – a decrease of 0.5% from 1.75%. What does the interest rate cut mean for Canadian consumers? That’s what we’re here to discuss. Why Did the Bank of Canada Cut Interest Rates? On March 4, 2020, the Bank of Canada...
by Prudent Financial Services | Dec 4, 2019 | Bank of Canada Interest Rate, Canadian Consumer Debt, Canadian Interest Rate, Credit Card Debt, Credit Rebuilding, Financial Planning, Getting Out of Debt, Holiday Spending, Interest Rates, Mortgage Interest Rate, Prudent Financial
Start Your New Year’s Financial Planning Early! The Bank of Canada interest rate is officially staying at 1.75% for the rest of the year. On December 4, 2019, the Bank of Canada (BOC) announced the interest rate would remain the same for another month. This marks no...
