Credit cards are omnipresent in today’s society and are integral to every financial transaction from Uber Eats to travel bookings. When used responsibly, credit cards are excellent financial tools that enable the cardholder to obtain travel points, receive cashback offers or earn rewards. The dream of building credit for future purchases can quickly spiral into …
The ability to control your finances is a skill you’ll have to hone once you arrive in Canada. You can fritter your savings in many ways, so be on guard from the get-go. Ensure you have a good idea the cost of rent, utilities, as well as taxes. If you arrive without a job, you …
It happens sometimes. You might go long periods where things are going well, you go to any shop you want, you never worry if you leave your credit card at a restaurant or a bar or possible credit card fraud. Then, one day, you wake up to find a charge you’re not sure about. Thousands of Canadians …
The goods and services tax (GST) is a tariff on the production and supply of goods and services in Canada, and it’s charged at 5%. For instance, if you purchase a shoe for your kid at the price of C$100, you’ll need to pay the total cost of C$105 to the seller. The extra C$5 …
What You Need to Know About Goods and Services Tax (GST) Read More »
One of the first things you need to do before you go out to the dealership or bank is to establish your car budget. Putting a peg on how much you need to spend on your monthly rates will come in handy when you’re about to buy a car. And for you to do that, …
How to Choose the Best Interest Rate for Your Car Loan Read More »
There are many ways to save money in Canada without living like a pauper. You may see budgeting as impossible, but even the most extravagant spenders can find surprising ways to cut expenses. You might learn to forego a few things, but you won’t have to do without TV or live in the woods to …
16 Ways to Cut Your Expenses and Save Money in Canada Read More »
A Credit Default Swap (CDS) is a financial agreement that is contractual in nature and which allows an investor to share credit risk with another investor. In simple terms, a CDS is a default insurance on a loan or bond. If a lender is concerned that a borrower will default on a loan, the lender …
How Credit Default Swap (CDS) Works in the Canadian Market: Explained Read More »
There comes a time in your life when you’d have to ask yourself how many credit cards are enough for your financial health. For every rule, there is an exception, but in this case, there are no rules nor exceptions as to how many credit cards you might need. The straight to the chase answer …
How Many Credit Cards Should You Have in Canada? Read More »
Canadians with bad credit will always find it challenging to buy anything. Whether it’s a house or a car, bad credit is an ill wind that blows you no good. Fortunately for you, there are many ways you can buy a home with bad credit, but this piece will focus on how you can do …
Buying a car is a big deal in Canada. For most individuals, it is the second-largest purchase they’ll ever make – second only to purchasing a house. A 2017 CBC report stated that the cost of a new car in Canada was above C$33,000. And if you don’t have that kind of cash sitting in …
What is the Minimum Credit Score to Buy a Car in Canada? Read More »
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