At the start of the pandemic, many Canadians were quick to register for the Canadian Emergency Response Benefit (CERB). The federal government’s $2,000-a-month payment was simple to apply for and came with minimal eligibility requirements. The benefit was initially created to help workers and businesses navigate the financial impact of COVID-19. However, many CERB recipients […]
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Improve Your Finances in 2022: New Year’s Resolutions You Can Actually Keep
Most would agree that everyone is ready to bid farewell to 2021. If you’re like most Canadians, you’ll be thinking about how you can start the year off right by choosing a new year’s resolution. According to Statista, improving personal finances is the second most common new year’s resolution, after exercising and dieting. Why? Because […]
The Truth About Rewards Credit Cards
The word ‘reward’ has the kind of sweetness about it that few other words can match. When it’s attached to a credit card, it makes the deal even more attractive. Some people spend money left, right and centre just to earn a few rewards. This is exactly what credit card companies want, and they tempt […]
Why You Need an Emergency Fund
Murphy’s Law states that anything that can go wrong, will go wrong – eventually. If you aren’t prepared for the unexpected challenges that life throws your way from time to time, then you may find yourself in a very difficult spot. This is why it is important to have an emergency fund at all times. […]
How to Prepare Your Finances for Someone Else to Take Over
What happens when the person in the household who handles the finances is no longer there or is unable to handle them on their own? If you’re reading this, you are most likely the person who is in charge of the family finances. Now, imagine that you had to go away for six months and […]
Money Management Tips for Teens
For most teens, as soon as money lands in their hands, they start itching to spend it. As a result, they often go broke soon after they get the money. Teenagers are old enough to know what money can do but haven’t yet learned the ins and outs of working hard for money and how […]
Beyond the CERB: New Covid-19 Government Benefits
When the Canada Emergency Response Benefit (CERB) was rolled out earlier this year to help Canadians who saw their income impacted by the coronavirus, everyone knew it would inevitably come to an end. The CERB officially ended at the end of September as the government transitions people back onto EI. The EI program is set […]
The Leading Causes of Debt in Canada
Canada has some of the highest consumer debt in the world. With record-low interest rates, easy access to credit and a rising cost of living, it’s no wonder we’re saddled with debt. According to the Bank of Canada, the average debt held by Canadians, excluding mortgages, is $20,759. That’s a lot of money spent on things […]
5 Leading Causes of Financial Problems (and What To Do About Them)
Most people incorrectly assume that the cause of financial problems is living an overly lavish lifestyle, but this is simply not the truth. Oftentimes, people find themselves deep in debt or on the brink of bankruptcy because of a significant life change. The truth is debt can happen to anyone. Nobody plans to have money […]
Financial Literacy and the Workplace: A Relationship that Matters
According to the Financial Consumer Agency of Canada (FCAC), money is the greatest source of stress for Canadians – even more than work, personal and relationship issues. Almost half (40 per cent) of working Canadians feel overwhelmed by their current debt load, which continues to increase yearly for many. Unfortunately due to the COVID-19 pandemic, […]
