Delivering you the very best money tips, news, and how-to's in Canada every single week. Wondering how to break up with your bank, how to save thousands on your mortgage, or how the latest economic news affects you? You're in the right place.
With the holiday season in full swing, and more and more consumers pulling out plastic to fund their celebrations, RateSupermarket.ca has created their five top credit card tips to help Canadians save money before, during and after the holidays.
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If you don’t have a home or other large asset to back a secure line of credit, and your credit rating has too many red flags (from all those bills you’ve been late in paying), you might not qualify for a line of credit. If that’s the situation you’re in, then forget about cash back or air miles programs. You should focus on getting yourself a credit card that will charge you the lowest amount of interest if and when you do need to carry a balance. Here are some of the best low rate credit cards in the market.
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According to surveys, the average Canadian owes $1.47 for every $1 of their disposable income. Yikes! The main culprits? Buying homes beyond our budgets and spending too much on a daily basis. That overspending tends to happen on our credit cards. The high interest rates on these cards often turns small debt into a never-ending headache. Yesterday you read Melanie’s blog about avoiding credit card debt, but what should you do if you’re already in over our head? Here are some suggestions:
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With the economy fluctuating and increasingly uncertain, so are holiday shoppers. According to an online survey, faith in the Canadian economy is declining. While 29% expect it to improve in the coming year, 33% expect it to decline further. For this reason, Canadians are planning to cut their Christmas budget in half and focus on new ways to save money instead. According to the same poll, this year’s average Christmas shopper plans to spend $477 on gifts. Of those who intend to shop, 45% plan to shop online.
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Yesterday, Melanie told you about some of her top issues with Canada. Now, let’s show this country a little more love and celebrate the great things about Canada and its financial checks and balances. While we might have an international reputation for being too gosh-darn polite, bordering on bland, this middle-of-the-roadness sure bodes well for us in the practical ins and outs of life. Here’s a list of what’s awesome about Canada.
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Want to know what the outlook is on mortgage rates for the next 30 to 40 days? Our panel of mortgage experts share their views on Canadian Mortgage Rate Trends.
Panel Consensus
February 2012
