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Detox your spending and experience better financial health + MORE Jan 2nd
Using your creativity and resourcefulness to stop spending for a week on anything but essentials will give you more savings and less stress; you win both ways, Lesley-Anne Scorgie writes..... More »
This millennial has $100,000 in savings and wants to leave Toronto to buy a cheaper house. With help from parents, is it possible? + MORE Jun 12th
“After looking at all these properties, my boyfriend and I realize that we have to be realistic and find a place further out,” Vanessa said..... More »
Cheap Whole Foods prices won’t trigger price wars + MORE Aug 31st
TORONTO — Cheaper avocados at Whole Foods might get fans of the organic grocery chain salivating over savings, but retail analysts say it probably won’t launch price wars at Canadian supermarkets.
Amazon took ownership of Whole Foods Monday and immediately decided to cut the cost of some of.... More »
Using a HELOC as an investment strategy: not as taboo as you might think + MORE Feb 27th
Ask MoneySense
I wish to leverage my HELOC to invest in dividend-paying investments. How would you advise I approach this? Is this an effective tax savings tool? Is there any financial institution or products you would advise?
—Martha
Borrowing from a home equity line of credit
You know,.... More »
Enrollment surge likely under Clinton debt-free tuition plan, potentially boosting its cost + MORE Aug 11th
WASHINGTON – Hillary Rodham Clinton’s plan to make college more affordable and ease the burden of student debt could easily end up costing more than her proposed $350 billion.
Clinton’s plan essentially shifts more of the financial burden of college from students and their families.... More »
The Feds Choke Off Native American Income
– online.wsj.com
A Justice Department campaign against short-term loans is an economic blow to Indians.We’re taking on more debt, delinquencies fall
– moneysense.ca
TORONTO – Credit monitoring agency Equifax says Canadians racked up more debt in the latest quarter, driven by mortgages and higher instalment loans.Data compiled for the second quarter shows that overall consumer debt, which includes mortgages, grew 7.2 per cent to $1.45 trillion from $1.35 trillion a year ago.
Debt also grew 1.8 per cent from the first quarter.
However, the rate of delinquencies fell to its lowest level since the recession began to unfold five years ago.
The national delinquency rate, which tracks bills overdue by 90 days or more, fell by 2.8 per cent, while consumer bankruptcies dropped by five per cent compared with the same time last year.
On average, Equifax says Canadians held $20,759 in debt without factoring in mortgages.
Albertans are the leaders for new credit demands, the report says, with requests rising for five consecutive quarters.
Equifax says instalment loans — or scheduled payments — increased 10.8 per cent while mortgages grew 9.2 per cent. The credit card sector was up 4…
