Debt.ca, Author at Debt.ca

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Looking for Cheap Hobbies And Free Activities?

By Debt.ca on October 21, 2021

You know being in debt is incredibly stressful. While you’re doing everything you can to get out, it’s important to stay healthy and active. Adopting a hobby is an excellent way to stay socially active and learn new skills. Even if you’re struggling with debt, there is a cheap hobby out there for everyone. Feeding…

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coffee beans

The Latte Factor: How Does a Cup of Coffee Teach Us About Saving?

By Debt.ca on October 18, 2021

The coffee you buy represents a lot more about your financial future than you think. Learn how a single cup of coffee provides insight into saving. What is the Latte Factor? The latte factor is the idea that any small, habitual purchase adds up to a large amount over time. A daily latte is an…

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Line of Credit: Protecting Yourself from a Financial Emergency

By Debt.ca on October 13, 2021

Experiencing a financial emergency can be a harrowing experience. But it happens—especially nowadays. What can you do when paying interest on debt becomes too rough? A line of credit can help you get through tight financial times. What is a line of credit? Lines of credit are loan types that allow you to borrow money….

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Financial Infidelity and How to Overcome It

By Debt.ca on October 11, 2021

What is financial infidelity? Financial infidelity consists of hiding credit card purchases and other debts. It can even go as far as creating secret accounts that your partner doesn’t know about. It can also include making big financial decisions without consulting your partner. When you save money or spend, being honest with your partner can…

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jar of coins for emergency funds and rainy day savings

The Importance Of Emergency Funds For Financial Security

By Debt.ca on September 14, 2021

The ultimate goal of emergency funds is to have a chunk of easily accessible money that acts as a stabilizer for your entire life. Having a safety net can turn unexpected expenses into slight hiccups. It’s no surprise that many Canadians are within $200 of being unable to cover their bills. What would you do…

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How to Reduce your Food Budget

By Debt.ca on September 8, 2021

Savvy shoppers are always looking for valid food budget tips. And who could blame them? According to Canada’s Food Price Report 2021, annual food expenditure could go up by as much as $695 compared to 2020. If you are in debt, consider some ways you can stretch your food budget to put extra money towards what…

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man finding out his mortgage is not approved

What if my mortgage is not approved?

By Debt.ca on August 23, 2021

It’s devastating news to hear: the application for your mortgage is not approved. Whether it was for a new home purchase, a refinance, or a renewal, mortgage loan forgiveness can leave you scrambling for alternatives. Not getting approval for a mortgage happens frequently. According to the CMHC’s Residential Mortgage Industry Report, the approval rate for mortgages…

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Cameras watching people who owe the CRA money

Does owing to CRA affect your credit score?

By Debt.ca on August 9, 2021

Income taxes are a large financial obligation. Every individual files taxes every year. Some get a tax return. Some get a refund. If you own a business, you may also pay business and sales taxes. Regardless of your situation, we all face tax debt at some point or other. This may have you wondering how…

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Canada Recovery Benefit

Canada Recovery Benefit For Out Of Work Canadians

By Debt.ca on July 26, 2021

Canada lost three million jobs due to the COVID-19 pandemic. Thousands of Canadians struggled to find work as the unemployment rate rose to a record high of 13.7% in May 2020. To combat this economic disaster, the federal government introduced the COVID-19 Emergency Response Benefit (CERB). This benefit offered Canadians $2,000 per month, to financially…

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best personal finance books

The 7 Best Personal Finance Books

By Debt.ca on July 22, 2021

Reading is good for your health. The benefits of reading books are abundant — heightened ability to empathize, cognitive decline prevention, lowered risk of depression, improved sleep, and better vocabulary are only a few. Many Canadians reap the benefits of reading, as the average Canadian spends six hours a week reading some form of print. …

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