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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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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If you’re looking for a loan these days, you have many options. There are thousands of banks across the country that offer lines of credit, personal loans, business loans, mortgages, and more. Credit unions also offer similar loan products as banks, with a slightly more personalized service model. Additionally, there are private, alternative lenders that…
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When dealing with a debt collector, it’s easy to feel anxious every time the phone rings. In fact, that stress contributes to debt denial, which might lead someone to simply ignore the phone call (we don’t recommend this). Debt collection agencies collect a variety of unpaid debts, including credit card debt, personal loans, business loans,…
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Unemployment affects people all over the country, especially recently, with the COVID-19 pandemic. In May 2020, Canada’s unemployment rate rose to 13.7%, as the COVID-19 pandemic resulted in over three million lost jobs in the two previous months. Things are improving slowly, as the unemployment rate in Canada is now 7.8%. Luckily, the federal government…
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Life is better when you’re on top of your finances. You feel more confident, secure, and relaxed when you’re not worried about money. Good financial health entails steady income, consistent investments, long-term financial planning, and consciousness in spending. Evidence suggests that financial health is linked to both mental and physical health. Financial worries are linked…
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Learn about the snowball method, one of the most effective techniques to paying off different kinds of debt with different interest rates.
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Millionaires still advise that real estate is the best investment. Even in a global pandemic, people continue to purchase homes. Just in 2021, Canadians brought themselves to nearly $2.1 trillion in collective consumer debt, even though overall credit card debt actually decreased. Experts say that a surge in mortgage loans explains this increase in consumer…
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There’s now a growing concern about Canada’s public debt. For the fiscal year of 2019, the country has recorded a gross debt or financial liabilities of $2.434 trillion ($64,087 per capita). This number is the sum of the debt of the federal government, as well as the country’s provinces and territories. The gross debt to…
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At some point in life, most individuals rely on financing or credit. Certain life goals, such as buying a house or a car, are too expensive to fulfill without help. Financing and credit come in many shapes and sizes. For example, credit cards, lines of credit, loans, mortgages and car loans. The catch to using…
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