Confused By Canadian Finances?
Personal Finance / Personal Finance News

Confused By Canadian Finances?

A few reports came out this week, underscoring the knowledge gap between Canadian consumers and the state of their personal finances. An annual debt report released by BMO finds household debt levels continue to skyrocket, as consumers clamour for mortgages and cheap credit. Meanwhile, a study shows many TFSA investors still aren’t clear on their contribution rules. Continue reading »

Financial Literacy Week: Take the Pledge
Personal Finance / Personal Finance News

Financial Literacy Week: Take the Pledge

Up until a year ago I was just as financially illiterate as the next guy. My monthly bills were too high; I had bad credit card debt and virtually no savings. A year later, my savings have grown substantially, I have freed myself of nasty credit card debt and I have cut back on unnecessary monthly bills. And guess what? You can do it too. This week is Financial Literacy Week. Help yourself get financially ahead and take the pledge. I dare you! Continue reading »

The Cheap Money Party Won’t Last: Canadians Need to get Real About their Debt
Economic News / Mortgage News / Mortgages

The Cheap Money Party Won’t Last: Canadians Need to get Real About their Debt

Bank of Canada Governor Mark Carney is painting an increasingly bleak future for the Canadian housing market. Although soft in his chosen words his message at a recent speech to the Vancouver Board of Trade was clear, when rates go up, we are in trouble. Carney highlighted again that the single biggest investment most Canadians make is their home. It represents almost 40 percent of the average family’s total assets. The big problem, many Canadians are living in homes they won’t be able to afford once interest rates start to rise. Continue reading »