How to Budget on an Irregular Income
Overview A growing number of people are opting to work as freelancers or gig workers. More broadly, workers are experiencing lower levels of job security than ever before, with a gradual economy-wide shift away from full-time, permanent, pensioned employment with benefits and toward contract work, freelance work, and gig work. These modes of work come […]
7 Signs It’s Time to Take Out an Online Loan
Overview Taking out an online loan, whether a payday loan or an installment loan, can come with certain risks. Therefore, it’s important to consider your readiness to take out the loan. In this article, we will explore seven signs that you are, in fact, ready. Sign #1: You’re Facing Unexpected Expenses If you’re faced with […]
5 Tips to Pay Down Your Credit Card Debt More Quickly
Given stagnant wages and a high cost of living, it’s no surprise than over half of Canadian adults (55%) currently carry credit card debt. Of those who carry credit card debt, 51% say it will take at least six months to pay it off. Excessive credit card debt creates high stress levels, especially combined with […]
What Are No Credit Check Loans in Ontario?
Overview No credit check loans are designed to provide financial assistance to those who may have a low credit score or lack a credit history in Ontario. This is because those with low credit scores or without a credit history may lack access to traditional financial products and services. Financial institutions like banks and credit […]
6 Reasons Why a Loan Application May Not Get Approved
Overview Lenders use a variety of criteria to help them determine whether an applicant will be able to repay a loan. The criteria they use typically provide them with a picture of the credit risk presented by an applicant, their likelihood of defaulting on their payments, and so on. Therefore, the most common reasons why […]
10 Tips to Survive Inflation in Canada
Overview Inflation is the rate of increase in the price of goods and services, which corresponds to a decrease in the purchasing power of money. Canada has been experiencing high inflation in recent years, with food and housing costs undergoing some of the biggest upward surges. Causes Inflation is the result of a complex interplay […]
Tips on Getting Approved for an Online Loan in Canada
For some prospective borrowers, online personal loans may offer a better alternative to credit cards and payday loans. The application process takes place entirely online, is quick and simple, and you may get access to funds in as little as 24 hours. Here are some tips on how you can get approved for a personal […]
5 Tips to Lower Your Debt-to-Income Ratio
You may have heard of the debt-to-income ratio (DTI) and considered its importance. In this article, we will define the debt-to-income ratio, analyze its significance, and consider five ways to improve your DTI. What is a debt-to-income ratio? The debt-to-income ratio is a metric used to evaluate the extent to which an individual is burdened […]
7 Basic Personal Loan Mistakes and How to Avoid Them
A personal loan can help you bridge a cash shortfall until the next paycheque. However, it is important to take out personal loans responsibly. Discover the seven common mistakes people make when taking out personal loans and how to avoid making those mistakes. 1. Not Reviewing Your Financial Situation Before you apply for a loan, […]
Living Paycheque to Paycheque: How to Break the Cycle
Many Canadians are struggling financially. According to the MNP Consumer Debt Index, over half of Canadians are $200 or less from being unable to pay their bills and debt obligations each month. Meanwhile, according to another poll by Leger, about half report that they are living paycheque to paycheque. If you’re struggling to save any […]