Debt.ca, Author at Debt.ca

Household debt ratio rises

Household debt ratio rises to 176.9%

By Debt.ca on July 9, 2020

Canadian household debt is once again in the spotlight. The household debt ratio is heading towards a record high. In this article we’ll look at what’s fueling the increase in household debt and what it means for Canadian households. After reading this article you’ll have a better understanding of the household debt ratio and other…

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Wallet empty personal bankruptcies

Personal Bankruptcies fell to a record low in April

By Debt.ca on July 8, 2020

Amid a global pandemic, you’d think that personal bankruptcies would be increasing, but that hasn’t been the case. In fact, personal bankruptcies seem to be heading in the opposite direction. At first glance this may seem like good news, but the numbers are deceiving. In this article, we’ll look at how personal bankruptcies fell to…

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men worry about debt

Debt Consolidation vs Bankruptcy

By Debt.ca on July 2, 2020

When it comes to debt consolidation vs bankruptcy, the two differ in many ways. A rough economy can temp one to declare bankruptcy if you have large debts. After all, once you’ve declared bankruptcy, your creditors can no longer pursue you for the amounts you owe. However, bankruptcy can also have negative consequences. Filing for…

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saving change in a cup

Get Your Personal Finances on Track

By Debt.ca on June 11, 2020

If you want to get your personal finances on track, it takes time and guts. You must put effort into setting up a system that will work for you. Come to terms with all the debt you’re carrying and your poor money habits. Studies show that money is one of the most significant stressors in…

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Cheap gifts such as cupcakes, mugs, and neck tie for dad on Father's day

Cheap Gifts for Dad on Father’s Day

By Debt.ca on June 9, 2020

Are you all set on gifts for dad on Father’s Day? Father’s Day is coming up on June 21st. Are you prepared? With the current COVID-19 pandemic, money is tight around a lot of Canadian households these days. Luckily, you don’t have to spend a bundle to put a smile on dad’s face. Here are…

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RRSP or TFSA

Is it Better to Invest in RRSP or TFSA?

By Debt.ca on June 5, 2020

Is it “better to invest in RRSP or TFSA?” that is the question. Even William Shakespeare had a hard time with this one. One of the most common investment questions Canadians ask is it better to invest in an RRSP or TFSA? The RRSP and TFSA both have benefits, but as with all personal finance…

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Banks Helping People During Coronavirus

Banks Helping People During Coronavirus

By Debt.ca on June 2, 2020

If you didn’t know, there are banks helping people during coronavirus and the difficult times right now. The COVID-19 pandemic is having a bad effect on Canadians. Many businesses have had to shut down. And many workers have lost their jobs. That means there are millions of Canadians that are seeing less income. But bills…

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Should You Invest In Your RRSP Or Pay Off Debt

Should You Invest In Your RRSP Or Pay Off Debt?

By Debt.ca on June 1, 2020

Should you invest in your RRSP or pay off debt? This is one of the most common financial decisions faced by Canadian these days. Unfortunately, there isn’t a one size fits all approach. Whether you should invest in your Registered Retirement Savings Plan or pay off debt largely depends on how much debt you have,…

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Person typing on laptop

Enhanced Powers for the Financial Consumer Agency of Canada

By Debt.ca on May 26, 2020

The new enhanced powers for the Financial Consumer Agency of Canada have been underway since April, 2020. The Financial Consumer Agency of Canada (FCAC) is an independent federal regulatory agency. Its mandate is to help protect Canadian consumers and inform them about financial products and services. It’s responsible for enforcing consumer protection legislation and ensuring…

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DCA - Covid-19 Credit Card Payment Deferrals

Credit Card Payment Deferrals in Covid-19

By Debt.ca on May 13, 2020

Credit Card Payment Deferrals can benefit Canadians struggling to keep up with debt. Though benefits like rewards points make credit cards convenient, the list of advantages is quite short today. The coronavirus is making paying credit card bills difficult. Many Canadians are reeling from layoffs. Many businesses have also had to shut their doors. That…

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