I made a rookie mistake at the beginning of this year by taking on an RRSP loan. In Canada, you can borrow money from the bank to contribute to your registered retirement savings plan (the equivalent of the 401-K in the U.S) if you believe the tax deduction that will result from it will be …
My financial journey #1: How I paid back a $15,000 debt in 6 months Read More »
Stocks are categorized as growth, value, and income or dividend stocks. When investors buy growth stocks, they are betting that their stocks will increase in value and they will be able to sell them for a profit. Value stocks, on the other hand, are priced below their real value, often due to a temporary change in …
With various car loan deals available today, it can be easy to immediately say “yes” to the most tempting offer presented to you. But before you sign any agreement, take some time to mull things over. After all, with an auto loan, you will have the car of your dreams or, at the very least, …
Considering A Car Loan? 7 Questions to Help You Decide Read More »
Ask any mortgage lender for advice on how you can save money on your home-loan and you’ll usually get a bunch of generic, cookie cutter answers: “Increase your monthly repayments” “Find a lower interest rate” “Make extra repayments when possible” While the above answers are indeed true, they are painfully obvious, and not what you’d …
Exchange-traded funds or ETFs represent a category of investments (such as bonds and stocks), that you can hold in your portfolio. ETFs have become extremely popular over the last decade and are often defined by opposition to mutual funds. This article will provide more insight for beginning investors, in an attempt to help you determine if …
Exchange-Traded Funds (ETFs): The Good, the Bad and the Ugly Read More »
6 Fintech Services That Are Better Than Traditional Banking. Financial Technology companies or Fintechs are companies that provide online financial services to consumers and businesses. Some Fintechs such as PayPal are well known, but hundreds of other companies have emerged over the last decade and have disrupted the traditional financial service sector. Today, whether you …
6 Fintech Services That Are Better Than Traditional Banking Read More »
5 Warnings When Considering Payday Loans. Payday loans are short-term unsecured loans that are often referred to as “cash advances”. They are generally provided by non-traditional financial companies and can be very useful for people in urgent need of cash or with a bad credit. However, you need to be careful with payday loans, especially …
4 Tips To Avoid Debt Consolidation Traps. A debt consolidation loan can help you manage your liabilities better and can potentially improve your credit score in the long term. However to help out first-timers we came up with 4 tips to avoid debt consolidation traps. 1. Know When To Use Debt Consolidation Loans Before opting …
3 Credit Score Myths You Should Know. A credit score is a rating that reflects your ability to pay back your debt based on your past credit performance. As explained in this article, a higher credit score implies that you are very likely to pay off your credit while a lower credit score denotes a strong possibility that …