Pay off credit card

It isn’t exactly news, but Canadians are struggling financially. For instance, covering a $500 unexpected expense is not an option for a quarter of us. In 2022, over 103,586 insolvencies were filed with the Office of the Superintendent of Bankruptcy (OSB), reflecting a steep increase from the previous year. Before anyone ends up filing for […]

Did you know that Canadians owe more than $90 billion in credit card debt?  Clearly, credit card debt has become a common issue faced by many Canadians. If you find yourself drowning in credit card debt, you may be wondering how to negotiate a settlement on your own. This article will guide you through the […]

Credit cards have become the default payment option for many people, with them being used to purchase everything from family holidays to weekly groceries. If you manage them properly, credit cards are an excellent financial tool that you can use to earn perks such as travel points, cashback, or insurance protection.  However, carrying forward a […]

The average Canadian carries at least two credit cards in their wallet. People use credit cards for many different reasons. Some use them to collect rewards on their purchases, and some to build their credit rating. Others use credit cards because they don’t have the money to cover their purchases. If they don’t pay off […]

A debt jubilee is a type of large-scale debt forgiveness program. Will Canadians get one? Over the last 20 years, Canadians have gradually accumulated more and more debt. With some of the highest debt-to-GDP ratios among developed countries, the average Canadian consumer carries $1.77 in debts owed for every $1 they earn, as of the […]

Many people have grown up with the idea that all debt is bad and to avoid it whenever possible. However, this is simply not the case. By successfully leveraging good debt, you can increase your net worth. You will also improve your credit score. This can in turn lead to better mortgage rates, lower credit […]

Buy now and pay off the debt later. That’s how the vast majority of Canadians are handling their day-to-day spending. Credit cards account for $100 billion of outstanding debt in Canada and it touches almost everyone. You have to pay it off if you want a higher credit score or relief from financial anxiety, but […]