Credit is something many of us take for granted. If you have good credit, you should have no problem borrowing money from financial institutions at the best interest rates. They also give the most favourable terms and conditions. If you’re able to pay for your home, car, and other assets in cash, you may not…
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With the 2021 tax season in full swing, we thought it would be the perfect time to share some tax tips. In this article, we’ll look at ways to boost your tax refund, tips on getting your taxes filed on time and a tax credit for people with disabilities. 5 Simple Ways to Boost Your…
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Using a Home Equity Loan for Debt Consolidation may not occur to a homeowner immediately when experiencing finance troubles. COVID-19 has been tough on the finances of a lot of Canadians. COVID-19 arrived in North America with little warning. One week all the shops were open, the next week, businesses were ordered to shut down….
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Insolvency is a financial state where you’re unable to meet your debts as they come due. When used as a commercial term, it means that your business is unable to pay off its debts. It is typically defined in two separate ways: cash flow insolvency and balance sheet insolvency. Let’s look at both now. Cash…
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Are you a first-time home buyer looking to purchase a home in the near future? You may have heard of and be familiar with the First-Time Home Buyer Incentive (FTHBI). The FTHBI is a government program designed to help those buying a home for the first time. In this article, we’ll look at what the…
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There are many CMHC mortgage rule changes that have the potential to affect many Canadians. The Canada Mortgage and Housing Corporation (CMHC) recently announced many vital changes that could affect those currently looking for a home. The crown corporation is banning borrowed down payments. It’s also increasing its minimum required credit score and lowering its…
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Are you interested in investing in real estate? Unless you can afford to pay for a property in cash, you’ll need to take out a mortgage. For many Canadians, the dream is to be mortgage-free by retirement. But what if you could pay down your mortgage a lot sooner? Once you have high-interest debt like…
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The goal of the Collection Agencies Act is to keep collection agents from participating in a prohibited practice. Basically, for a collection agency to collect from those who owe, they must follow. According to the act Canadian lawmakers created, it prohibits certain behaviours and tactics. While it may be their right to receive payment of…
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It’s time to get down to the basics. In this article, we’re going to look at the basics of budgeting. Now I know what you’re thinking, a budget is no fun. While that may be the perception, this couldn’t be further from the truth. Topics include learning personal and family budgeting basics, the step of…
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Activity-based budgeting is a method associated with business: it’s when you figure out all the costs for all your products and services. After you have a list of those costs, you then make a budget based on all your business’s activities. Usually when you’re budgeting, you look at the previous year’s budget and make changes…
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