RateSupermarket.ca on Globe and Mail: How to Tackle Your Long Term Debt
Debt Repayment / Personal Finance / RSM News

RateSupermarket.ca on Globe and Mail: How to Tackle Your Long Term Debt

The Globe and Mail launched a new video series today in the Globe Investor section of their site called “Financial Road Map“.  One of the first topics was about reducing personal debt, which can be a concern as we start off 2012, especially if you we very busy during the holiday shopping season! You can … Continue reading »

My New Year’s Resolution: Beef Up My Emergency Fund
Savings / Savings News / Your Budget

My New Year’s Resolution: Beef Up My Emergency Fund

This was a tough year for me. I was laid off abruptly in April 2011 from a job that I thought was solid and found myself in a situation I had never been in before. I was worried I hadn’t saved for a rainy day and all I had was my RRSP that I was unable to dip into without paying a huge penalty. My New Year’s promise is to increase the amount of after tax income I put away from 10% to 15%. 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 »

Discussing Higher Canadian Personal Debt on CTV News
Economic News / Mortgage News / Mortgages / RSM News

Discussing Higher Canadian Personal Debt on CTV News

The latest report on rising household debt that was released yesterday outlined that the average Canadian family owed over $100,000 in debt, at the end of 2010. In addition, the debt to income ratio was a record 150%. To put this in perspective, this means that for every $1,000 a household earns in after tax … Continue reading »

Ways to Reduce Personal Debt After the Holidays
Credit Card Debt / Credit Card News / Credit Cards / RSM News

Ways to Reduce Personal Debt After the Holidays

Hopefully everyone had a great holiday break and you were able to visit family over Christmas, exchange presents, take advantage of the sales on Boxing Day and celebrate the New Year. After all that celebrating, now is the time of year when the anxiety starts to kick in with the anticipation of the credit card … Continue reading »