Experts will tell you your debt-to-income ratio is one of the best ways to gauge your financial position. The media often quotes the Bank of Canada saying Canadians are at dangerously high levels of debt at 153 per cent. But what does that mean? I’ve spent dinner parties arguing how to properly calculate debt to income ratios and how much is too much. There are many schools of thought on how to asses your financial health. Here are a few.
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Like most of us, you probably pledged to lose a little weight, get more active, and to get a better grip on your finances this year. Unfortunately, resolutions are much easier made than kept. If you’ve made a money-related resolution, but are having trouble staying on track, you might just need a little motivation. Below, I’ve provided a list of this year’s must-reads.
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Do you still have those dreams where you’re in school and you’ve missed or made a huge mistake on an important test. Sorry to make you anxious, but you’re actually still being tested, possibly without you realizing it. Every time you borrow money, use your credit card or pay a bill, you’re being evaluated by Canada’s financial system. Your grade is your credit score.
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It has been said that January 23 is the most depressing day of the year. Typically, this is because it’s the date you receive your credit card statement, which is usually filled with a few too many holiday gift purchases. At RateSupermarket.ca, I feel like we’ve spent a lot of time talking about ways to manage debt, especially before and after the holidays. What we’ve never done before is focus on other ways to battle depression at this time of year.
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After a long night of holiday fun, we often end up with a hangover the next morning. And after a long season of spending and indulging, we often develop a hangover of a different kind. This one shows up on your credit card bill and hurts, but in a different way. You really don’t want that debt following you deep into 2012. You have things you want to do this year, and one of them is not stressing over money. Here’s some suggestions for getting rid of your holiday debt as fast as possible.
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