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The Health Effects of Bad Debt

The health effects of bad debt can significantly impact your life. When looking deeper into debt, it is defined as having an obligation to repay something in return for something received. The responsibility of having to repay something back, can impose unnecessary stress. A study conducted by Dr. John Gathergood of the University of Nottingham…

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The Fixed or Variable Rate Decision

Fixed rate mortgage or variable rate mortgage, which one is best for you? This is one decision that can weigh heavily on your finances. In addition, with the Bank of Canada continuously increasing the overnight rate, this decision will significantly impact your finances. The Bank of Canada meets every six weeks to make the decision…

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Money Problems Canadians Experience

Money problems are affecting nearly one third of all Canadians. An online survey conducted by the Angus Reid Institute (ARI), revealed that approximately a quarter of Canadians struggle to make ends meet. The survey was conducted from May 28 to June 13, 2018, among a randomized sample of 2,542 adult Canadians. The population sample is…

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Economic Factors that Affect Your Finances

There are many economic factors that can affect your finances, for example, inflation. Earlier this year the inflation rate in Canada went from 1.7% to 2.4% during the first quarter. This was mentioned in our previous blog, “Inflation Rate, What You Need to Know.” When inflation rate starts to rise, lenders understand that they will…

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What to Do with Debt Payments when Losing Your Job

Life is filled with many unexpected twists and turns that can affect our ability to make debt payments. And, we have the responsibility of figuring out what to do when confronted with the unexpected. A way to counter act the unexpected is to plan for the future. One of the most significant life events that…

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Canada’s Interest Rate and What to Expect

The Bank of Canada’s Governor, Stephen Poloz, made the decision to maintain the banks interest rate on Wednesday, May 30, 2018. There are a few factors that influence this decision that include Canada’s economy, household debt, mortgages, and consumer debt. According to an article posted by the Toronto Star, Canada’s household debt, mortgages and consumer…

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Saving Money, Techniques to Get You Started

Saving money should always be a top priority with your daily routine. This does not mean you are being cheap, but rather, you are smart with spending money. In addition, saving money is easier said then done; it takes time and effort to really pull it off. This is where one of the basic concepts…

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Inflation Rate, What You Need to Know.

Canada’s annual inflation rate has a big influence over managing debt and controlling finances. Recently, the country’s inflation rate has increased gradually over the first few months of 2018. In January, the inflation rate stood at 1.7%, increasing to 2.2% in February and then 2.4% in March. The increase in Canada’s inflation rate is partially…

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Canada’s Interest Rate is Slowly Creeping

Canada’s interest rate can have a big influence over an individual’s ability to manage debt and control their finances. Within less than a year, the Bank of Canada has increased its interest rate 3 times. This is a common theme covered in our previous blogs: The Canadian Economy Powered Up, The Bank of Canada Increases…

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Signs That Tell You, You’re in Debt, Find Help

Life provides us with many signs to help us avoid unwanted situations. For example, animals go quite before a storm, our body sweats before it overheats, and creditors notify you when money is owed. We have the ability to avoid most unwanted situations, but, that is easier said then done. It is up to us…

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