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Canadians and Credit Card Debt

Canadians are now using fewer credit cards, yet, credit card debt continues to increase. A survey conducted by TransUnion, the credit agency, revealed some interesting results. Canadians are racking up more credit card debt even though the number of active credit cards have decreased by 800,000. Fewer Canadians are opening-up new credit cards and, instead,…

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Canadian Homeowners & Their Mortgages

Canadian homeowners have more of a challenge managing debt as summer approaches. There are many different types of debt that an individual can have. The most common types of debt include pay day loans, auto loans, tax debt, student loans, credit card debt, and mortgages. Mortgage rates have been a hot topic among Canadian homeowners…

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Ontario’s Fair Housing Plan, What It Can Do For You

Ontario’s Fair housing plan is a great tool towards debt protection. With Toronto’s unbearable renting market, this couldn’t come soon enough. A 1 bedroom apartment in Toronto is around $1800.00 per month which works out to $21,600.00 per year. Based on the average hourly rate of pay in Toronto, an individual can earn around 30,000.00…

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Consumer Debt: Misrepresentation Uncovered

Consumer debt is not only a hot media trend, it is also a reality for a large number of Canadians. The stigma of consumer debt is usually associated with people who are incompetent, but, that is far from the truth. An article from Macleans covers an interview with a debt consultant. The debt consultant describes…

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Ontario’s Protection from Consumer Debt

There is no surprise that a majority of Canadians are victims to consumer debt. With a higher cost of living, fewer full-time jobs, and low interest rates, getting into debt is easier then ever. So, what can be done to protect yourself from consumer debt? The best way to approach this issue is by becoming…

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Unnecessary Spending Habits

Grocery shopping can be exhausting, both mentally, physically, and sometimes financially. The activity its self is necessary to function in today’s society. In contrast, grocery shopping has many habits that are overlooked and contribute to unnecessary spending. Some of these habits include: Buying brand name products over in-house brands The alternative in-house products usually contain…

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Sun’s out, Saving Money This Summer Is In

Saving money becomes more of a challenge as summer starts to creep up on us. The days are getting longer, the weather is getting warmer, and the need to spend money is getting stronger. With the average Canadian already spending $1.65 for every $1.00 of their income, it’s time we tighten our belts (our budget…

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FINANCIAL SKILLS, A PRIORITY FOR EDUCATION

A new pilot project that teaches Canadians essential financial skills is currently taking place in Ontario. Approximately two dozen high schools are participating in this project. The goal of the project is to teach students the financial skills necessary to succeed with the new global economy. The pilot project is a result of the Liberal…

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Hydro Costs & How They Can Affect You

A New plan to cut hydro costs was released by Premier Kathleen Wynne on March 2, 2017. The plan to cut hydro costs is introduced to help decrease electricity bill amounts for Ontario residents. Even though this seems like great news, how much does the plan actually benefit us? The original goal is to cut…

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Canada’s Potential For A Living Wage

Headlines are covering a common trend called, “Living Wage.” You might be asking yourself, what kind of wage is this? A living wage can help workers earn an income that can meet basic needs and allow them to participate in their communities. This type of income is based on the amount you earn in correlation with…

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