What to do if you have too much debt? It’s a question I hope you never have to ask. But with Canadians having record debt levels, some of us need to start taking our finances a bit more seriously. If you’re starting to worry about your debt, try to think about the positives. You know [...]
When given the choice between spending on hobbies or paying down debt, our decision should be easy to make. But unlike death and taxes which are certain in life, we still have a choice when it comes to how we spend our money. Unfortunately, many people will choose to spend on their hobbies, but guess [...]
If you didn’t know, payday loans are the worst! The amount of interest you’ll end up paying is insane - think 500%+. Yes, you read that right, you could end up paying FIVE HUNDRED percent interest. That makes your credit card interest look like a steal. With the cost of a loan being so much, [...]
Let's be clear, if you owe thousands of dollars on multiple credit cards, there's no way to get out of debt fast. If you see a company claiming they can clear your debt or fix your credit score for a small fee, the odds are they're a scam. If you want to get out of [...]
A few weeks ago I was watching the movie Fight Club. In one of the scenes, Brad Pitt's character Tyler Durden was explaining the 8 rules of fight club. If you wanted to be part of the club, you had to follow the rules. It was pretty simple and didn't need much more explaining, but [...]
With Financial Literacy Month fast approaching, you’re probably going to come across a lot of articles about spending. You may have even heard by now how Canadians have record debt levels. Sure it’s a concerning stat, but what does that really mean to the everyday person? Stats don’t tell the whole story but they can [...]
A few weeks back the Bank of Canada decided to cut interest rates for the second time this year. The fear was that Canada was near a recession and the lower rate would increase spending. Well just 2 weeks later and it looks like we're already in a recession. The lower rates will hopefully help [...]
The stress of owning money can keep anyone up at night, fortunately there's different debt repayment options that can help you pay down your debts faster than you might think. A young professional, in theory should have an easier time paying off student loans, and credit card debt. However, someone who has abused credit for many years and is [...]
Social trends are changing the way we do business on a daily basis. Peer-to-peer services such as Airbnb and Uber are often portrayed in a negative way, but the reality is, they offer something people want and now it's starting to catch on in the Canadian banking sector. Our banks are old school when you think about it. [...]
A couple weeks ago Blonde on a Budget and Mo' Money Mo' Houses hosted a meetup where there was an open discussion about money. Many of those in attendance had just cleared their debts and now weren't quite sure to do next. Some of us have spent so much time worrying about our debts that we've completely [...]
