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Archive for the Prudent Financial Category

Consumer Alert: Fast Cash Can Cost You Big if You are Not Informed

Consumer Alert: Fast Cash Can Cost You Big if You are Not Informed

Sometimes in life, you need fast cash. A sudden home emergency, dental problem, car repair, or other unforeseen expense might not have been in your budget… In these cases, you might be looking for quick money. If you find yourself in this situation, proceed with caution! Many…

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Prudent Value Cars Has a New Website!

Prudent Value Cars Has a New Website!

Prudent Value Cars has a new website! With same day, in-house financing up to $25,000, Prudent Value Cars has vehicle solutions for people in all types of financial situations, including: People with bad credit in Toronto/the GTA. People in a bankruptcy or consumer proposal. Self-employed. Prudent Value…

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Bank of Canada Interest Rate Staying the Same for September 2019: How This Affects Consumer Debt

Bank of Canada Interest Rate Staying the Same for September 2019: How This Affects Consumer Debt

The Bank of Canada (BOC) is maintaining the Canadian interest rate for another month. On September 4, 2019, the BOC announced that they are keeping the overnight interest rate at 1.75% — the same rate it has been since October of 2018. Economic Uncertainty Some factors that…

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Bruised Credit vs. Bad Credit vs. Obliterated Credit

Bruised Credit vs. Bad Credit vs. Obliterated Credit

What is the difference between bruised credit, bad credit, and obliterated credit? We’re here to answer the question! To first understand that, let’s first define what is bad credit. In Canada, your credit score can range between 300 and 900, with 300 being the lowest and 900…

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Back to School Expenses: Filling Shortfalls

Back to School Expenses: Filling Shortfalls

School is nearly back in session and with it back-to-school expenses. Whether you have children who are heading back to school, or you’re returning to college or university and managing student loan debt, this time of year can be expensive. According to an Angus Reid poll of…

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Options for Cutting Your Monthly Expenses By 50% — Or More!

Options for Cutting Your Monthly Expenses By 50% — Or More!

Sometimes no matter how much you try to make ends meet, your monthly expenses stretch you thin. In this case, you have two options: the first is to earn more money (easier said than done sometimes!). The second option is to reduce your monthly expenses. There are…

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Preparing to Refinance/Renew Your Mortgage at a Higher Interest Rate

Preparing to Refinance/Renew Your Mortgage at a Higher Interest Rate

Are you planning to renew your mortgage soon? If so, you could be in for sticker shock. Economists estimate about 24.1% of mortgages will renew in 2020, and 26.8% in 2021. Since 2017, we have seen interest rates rise significantly, going from 0.5% to 1.75%. If you…

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How to Obtain Home Equity Financing Without Getting Other People on Title Involved

How to Obtain Home Equity Financing Without Getting Other People on Title Involved

Home equity financing can help you achieve a lot of financial goals — complete a home renovation, fund a major event, like a wedding or tuition, get out of debt, and more. But sometimes it can be difficult to secure the financing if there are other people…

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Just Filed for Bankruptcy – When Can I Start Rebuilding Credit?

Just Filed for Bankruptcy – When Can I Start Rebuilding Credit?

If you’ve just filed for bankruptcy, rebuilding credit may be on your mind. The good news is that you don’t have to wait long. In fact, when it comes to rebuilding credit after bankruptcy, the sooner you start, the better. Believe it or not, you can actually…

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Canadian Interest Rate Staying the Same for the Summer

Canadian Interest Rate Staying the Same for the Summer

Why It’s the Perfect Season for Debt Consolidation The Canadian interest rate isn’t going up this summer. On July 10, 2019, the Bank of Canada (BOC) announced that the Canadian interest rate will remain unchanged this month, staying at 1.75%. As this is the last BOC announcement…

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