When taking out a personal loan, you first need to know how a fixed or variable interest rate will affect how much you pay. With a fixed loan, the rate and payment you make each month stays constant…
If you’re considering a line of credit or personal loan, there are many options to choose from – each with its own complex fine print. Learn why you should choose one over the other…
Have debt you just can’t seem to pay down? Check out our 12 Months to Being Debt Free series! January kicks off with prepping your pay-off plan. Read on to learn more.
0% financing sounds like a steal – who wouldn’t want to pay zero interest on their car loan? However, it’s often too good to be true. Here’s what consumers should know.
Montreal-based lender Desjardins and Best Buy have announced a new partnership and credit card offering. While the new plastic won’t include a rewards offering, it will provide financing options for Best Buy customers.
Personal debt can be just that – intensely private information that many are uncomfortable sharing. However the most recent debt poll from RBC finds three quarters of us are carrying debt of some kind. It’s time to be transparent to break the cycle and get back into the black.
ATB is offering a 3% rate on their HELOCs – the lowest rate in Canada! Available in Alberta until May 31, this makes it more affordable for home owners to access their equity – but is it a good idea to take out a loan when national interest rates are low?
Could you use a little extra cash? In today’s tough economy, who couldn’t? This week on Money Wise, we’re exploring an increasingly popular method of borrowing – a home equity line of credit. The problem – many Canadians don’t know what they are, and with household debt levels at record highs, HELOCs can add even more fuel to the fire.
The concept behind a Home Equity Line of Credit (HELOC) is simple – leverage your home in return for a hefty line of credit to draw from. However, it’s the underlying challenges associated with HELOC variable interest rates that makes a HELOC a tool best reserved for the thrifty and financially astute.
Should you take out a HELOC on your home to fund your retirement plan? For some, it’s a good option – but understand the interest and pay back realities.