From the moment you apply for that first credit card or loan and your credit history commences, financial institutes and lenders will eagerly track your credit score. This score impacts almost every facet of Canadian’s lives - it determines your ability to rent an apartment, buy your own home or vehicle, and qualify for loans at reasonable interest rates.
Let’s talk about the elephant in the room that gets swept under the rug all too often when discussing our finances: personal debt. Our bills for borrowing can suddenly rack up as we establish new lines of credit and loans. A 2017 poll conducted by Ipsos noted that Canadians with any amount of debt averaged $15,473 of consumer debt1.
Whether it is preparing to pay off a loan or eyeing up a potential vacation, saving money is a tough task. Far too often our immediate financial needs and wants take precedence, while our poor old savings accounts have to take a back seat. During 2018, the average Canadian household savings rate currently hovers at roughly 4.4%1.
If you have woken up in the middle of the night to a money-related panic attack, do not worry - you are not alone. It is natural for us to worry about our financial situation as it dictates so many facets of our everyday life. Nevertheless, financial stress is a big deal and needs to be addressed.
In a few short years, it seems as though the banking industry has revolutionized. It is now easier (and more convenient than ever) to tend to your banking needs, all from the comforts of your pajamas. Gone are the notions of banking hours, and the never ending lineups when you want to deposit your paycheck.
As you may have noticed by now, Credit agency Equifax announced that it suffered a data breach affecting 143 million U.S. consumers.
The hack exposed names, Social Security numbers, addresses, birth dates, and driver’s license numbers—all critical pieces of information used by identity thieves to impersonate people and conduct fraud.
In the last few months I have met with a few prospective clients with the following pension scenario, which I’m sure to most would sound very straightforward.
As many of you know I’m not a big fan of life insurance. Well maybe just not of a fan of the way it is sold.
As the stock market resurgence continues, investors are reawakening to the performance benchmarks of their mutual funds to see if their fund choices are drawing every ounce of gains that have been produced over the last couple of years.
Young families with an eye to the future are faced with a daunting choice – to save earnestly for a secure retirement or to save for their children’s education. Can you do both?