May 14, 2012
Most people think their debt is average – and most of them are wrong. Where do you stand?
Okay, so you have some credit card debt. But seriously, who doesn’t? Besides, you’re quite confident your debt isn’t that bad. It certainly isn’t as bad as those people.
Maybe that debt of yours isn’t such a big deal. Then again, what if it is...
Some recent statistics from Ratesupermarket.ca suggest that many of us have no idea how deep in debt we really are, or how much we have compared to others. So, while you might be envying your neighbour’s new car or kitchen reno, if there’s one area where you don’t want to keep up with the Joneses, it’s credit card debt.
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May 14, 2012
The less you know, the more dough you're likely to owe – especially if you're a woman. This data stems from a new study conducted by FINRA, the Financial Industry Regulatory Authority. According to a recent report, women with low levels of financial literacy are more likely to take part in risky and costly credit card behaviours than men with similar money sense. The U.S. based study showed that women who exhibit poor financial literacy skills are more likely to incur higher fees, higher interest rates, and lower credit scores. read more »
May 7, 2012
Time. We are always grasping for more and lamenting how quickly it passes. Indeed, its steady march comes with plenty of anxiety – about losing our energy, our looks, even our marbles. But time is a much kinder mistress to money than it is to humanity. Hang on to your money for the long haul and you’ll have something more than teenaged kids and crow’s feet: cash. And that’s one comfort that can make life pretty sweet.
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May 7, 2012
Getting to the bottom of why Canadians are saving less
Last year, the Royal Bank of Canada released some startling stats concerning the saving habits of Canadians. According to the study, nearly 40% of Canadians admitted that they were saving less than in previous years.
Sadly, little has changed in 2012.
According to a recent article in The Globe and Mail, the average Canadian's consumer debt now sits at $25,960. And while the pace at which Canadians are accumulating debt appears to be decreasing, so too does the rate at which we're contributing to our savings. Data from the RBC report shows that 30% of Canadians find it difficult to be disciplined about saving. Apparently excuses are far easier to come by than good financial habits.
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May 6, 2012
A true story about the TrueEarnings Card
Here comes the sun! With summer just around the corner, our thoughts are turning to sprucing up our patios, donning our flip-flops and barbecuing some great steaks. Our first stop for the summer stock-up? Costco, of course. (Even millionaire Kim Kardashian chooses Costco to stock up on her smokies, chips and soda, so you know this is the haute couture of big bin shopping!) read more »
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