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To start 2017 debt free, we will discuss a few topics that have already made an impact throughout media headlines. PAYDAY LOANS IN 2017 We discussed in a previous blog the sensitivity surrounding payday loans. For a refresher click on the following link: http://dodicklandau.ca/payday-loans/. As of January 1, 2017, Ontario lowered it’s maximum total cost…

On December 07, 2016, the credit rating agency Equifax stated in a press release that Canada’s delinquency rate and average debt has risen. Canada’s delinquency rate has increased 3.6 percent. This increase is shown when comparing the last +90 day period to the same period in 2015. Canada’s delinquency rate is measured by dividing the…

The Financial Consumer Agency of Canada (FCAC) states that approximately 90 percent of Canadians are taking on payday loans. Payday loans are being taken on by Canadians to cover standard household expenses or avoid late charges. A payday loan is a small amount of money lent at a high rate of interest that is paid back…

What will the Donald Trump effect  be on the Canadian economy? It is difficult to say at the moment, but there are plenty of predictions. One thing for certain is that Trump’s 100-day action plan has an economic strategy designed to grow the American economy. The goal is to grow the U.S. economy by 4%…

As of October 17th, 2016, Canada’s new federal mortgages rules came into effect to help protect the Canadian economy. These new rules provide protection by preventing Canadian consumers from taking on mortgages they can’t afford. On Tuesday, November 1st, Toronto-Dominion Bank released information to the lending industry that its prime lending rate moved from 2.7…

Looking at the current state of Canada’s economy, you might be thinking, “Should I claim bankruptcy?” Currently, the average Canadian household owes $1.65 in debt for every dollar of disposable income, which is near an all-time high. There are many reasons why we go into debt, but, ultimately those reasons are caused by ourselves. It…

The home buying process has been associated with going into debt, but why does purchasing your home have such a negative connotation towards it? This doesn’t have to be the situation as long as you do your research, acquire financial advice, and make the right decisions. An article in the Financial Post reveals that currently…

The stress of debt can be detrimental to your health, so it is in your best interest to pay off your debt as soon as possible. This is easier said than done, with all of life’s daily tasks and distractions, anybody can lose track. It’s time we look at a good example of what it…

An issue that causes about half of working Canadians a large amount of stress is debt. A survey released by the Canadian Payroll Association stated that 48 percent of the participants live paycheque to paycheque. The other 40 percent spent an amount equal to or more than their average earnings each week. If you can…

With the cost of living and education on the rise, it comes at no surprise that there is a substantial increase in the amount of student debt that post-graduates are carrying with them. In fact, students who required a student loan of some sort during their education carry an average debt of $28,000 and more….