Browsing Category Financial Advice

Debt is a major problem in Canada today. Everyone is sounding alarm, from the central banks to Bay Street, but is anyone heeding their advice? It doesn’t seem like it, according to the data. Here is what we know about the country’s addiction to debt: Total household debt is $2.2 trillion. Canadians owe $1.78 for every $1 of disposable income. Insolvency rates rose 9.2 percent last year. Borrowing costs are ballooning as interest rates gradually rise. Debt growth is roughly 3.5 percent per year – its peak was 6.3 percent in 2017. These are not good indicators of a strong economy. ...

When you have a mortgage, the thought of being able to save money is obviously a tempting one, but it is actually quite possible to do this. It is a lot of money over a long period of time. The sooner it is paid, the happier you will be. In the long run, you can actually shave off several thousand dollars if you do certain things, such as making some changes and perhaps a few sacrifices. To the rich, this may not mean a thing, but for the rest of us, we would jump at it! So, let's take a look ...

Opening a small business can be one of the most rewarding experiences imaginable. However, while seeing your dream come to life might be one of the greatest moments, watching it crumble down around you can be one of the worst. Unfortunately, many small businesses end up failing within the first year after opening. What’s even worse is that most of these failures are ultimately related to financial problems that could have easily been avoided. One of the best ways to ensure your business has the funding it needs when it first starts out will be to take out a small business ...

Sometimes there are situations in life where you want to increase your cash flow. These can include an emergency, a desire to continue your education or renovate your home, or make a big purchase such as more real estate or a vehicle. Loans or lines of credits are popular options but sometimes the interest rates on these are not favourable or lenders may not be able to provide the amount that you need. As a result, some homeowners choose instead to take out a second mortgage on their homes. This consist of borrowing against the equity of your home, providing you ...

If you live in the big city, then you are likely one of many people who don’t own an automobile. Unfortunately, when driving season arrives – sunshine, warm temperatures, and clean roads – you don’t have a vehicle to initiate a road trip, or just head up to cottage country.View post

Western-style futons are a type of furniture designed with utility and practicality in mind. Taking inspiration from sofa-bed designs, futons can shift between a sofa or couch shape, and the shape of a bed. View post