a canadian in jeans with empty pockets, representing the debt issue

Ipsos Poll: Canadians Are Less Than $200 From Hardship, Implications For The Economy And Strategies To Tackle Debt, Explained

The recent Ipsos poll conducted on behalf of MNP Ltd. paints a worrisome picture of the financial health of Canadian households. With more than half of Canadians indicating that they are only $200 or less away from not being able to make ends meet, the implications for the economy are far-reaching. This article delves into…

ByJohn WilsonJuly 11, 2023

Banking Personal Finance

Decoding The Power Of The Void Cheque In The Canadian Financial Landscape

In the vast landscape of Canadian finance, one often stumbles upon the enigmatic entity known as the "void cheque." From its peculiar name to its mysterious purpose, this humble piece of paper holds significant influence within the Canadian banking system. Today, we embark on a journey to demystify the void cheque, unveiling its essence and…

ByJohn WilsonJuly 4, 2023

Banking Personal Finance

TD Void Cheques In Canada, Explained

In today's fast-paced financial landscape, managing your money efficiently is essential. Whether you're setting up direct deposits, authorizing automatic bill payments, or simply verifying your account details, void cheques play a crucial role. Among the various financial institutions in Canada, TD Bank stands as a reputable choice for many Canadians. In this comprehensive guide, we…

ByJohn WilsonJuly 4, 2023

Banking Personal Finance

Desjardins Void Cheques: A Guide For Canadians

In the realm of personal finance, having a solid understanding of banking procedures and tools is essential. One such tool that holds great importance for Canadians is the Desjardins void cheque. Whether you need it for setting up direct deposit, linking accounts, or verifying your banking information, a void cheque can be a powerful ally.…

ByJohn WilsonJune 28, 2023

rising cost of interest rate mortgage canada

Mortgage Personal Finance

The Rising Cost Of Mortgage Debt After Canada’s Interest Rate Hikes

As interest rates in Canada have recently surged to 4.75%, homeowners and potential buyers are faced with the implications of a higher cost of servicing mortgage debt. This will be amplified by the fact that rates are still below historical norms and may very well head much higher. This article explores the impact of rising…

ByJohn WilsonJune 13, 2023

Debt Personal Finance

Unveiling The Historical Norm: Preparing For A Return To Higher Interest Rates In Canada

Canada experienced an unprecedented period of historically low interest rates from 2009 to 2020. However, as we move into an era of rate hikes after rate hikes, it is important to recognize that this low interest rate environment was actually an outlier and to prepare for the future. This analysis aims to shed light on…

ByJohn WilsonJune 12, 2023

blue 20% on a black background, interest rates of certain credit cards in Canada

Credit Cards Personal Finance

Tackling Credit Card Debt In Canada’s High-Interest Rate Environment

With credit card interest rates soaring above 20% in Canada's current interest rate environment that has seen even the Bank of Canada’s rate jump at 4.75%, credit card debt has become a pressing concern for consumers. This post explores the implications of rising interest rates on credit card debt and provides actionable strategies to effectively…

ByJohn WilsonJune 11, 2023

a coin being inserted in a piggybank, representing the rise of interest rates in Canada and its consequences on debt

Debt Personal Finance

Navigating Canada’s Rising Interest Rates: 9 Strategies to Eliminate Debt

In the wake of the Bank of Canada's recent decision to raise interest rates to 4.75%, Canadians find themselves facing a new, harsher financial reality. With higher costs associated with borrowing money, it becomes very important for individuals to prioritize debt reduction strategies. The following article will provide you with actionable tips and insights on…

ByJohn WilsonJune 10, 2023

Mortgage Personal Finance

How Big Of A Mortgage Can I Afford?

As a homeowner, one of the biggest financial decisions you will make is how much mortgage you can afford. With rising interest rates and a still-mostly-growing real estate market, many Canadians seem to still want to jump into the housing market. However, it is essential to have a realistic understanding of what you can afford…

ByJohn WilsonFebruary 8, 2023

Budgeting Personal Finance

How Much Should You Be Spending on Rent in Canada?

When it comes to financial planning, one of the most significant expenses you will face is housing. Rent is a crucial aspect of your budget that you need to get right. However, determining the right amount to spend on rent can be a challenging task. In this blog, we will explore the various factors that…

ByJohn WilsonFebruary 3, 2023