Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Are you interested in learning about the mortgage pre-approval process? Or, do you want to learn how to improve your credit score? One of the biggest steps you’ll take in life is buying a home. And, while you might want to go and pick out your dream home first, this is a mistake. You need to get .... More »
The majority of homeowners are blissfully unaware of alternative mortgages. They presume everyone is entitled to sub-3% mortgage interest rates, with no fees of any kind. But there is a growing, significant percentage of borrowers who need a different type of mortgage financing solution. Sometimes t.... More »
The growing demand for real estate in Canada is being driven largely by newcomers, who are making one out of every five home purchases in the country, according to a new survey. New immigrants to Canada (defined as those who have arrived within the last 10 years) represent 21% of homebuyers and are .... More »
RateSupermarket.ca aims to make financial decision-making easier for the consumer by acknowledging the best credit cards and banking products in Canada at its annual Best of Finance Awards. (Originally published May 15, 2019) The credit card, loan, bank account, or mortgage you choose can affect ho.... More »
Credit card bills got you down?
That’s the trouble with paying with plastic. It is easy to spend, but not quite as easy to pay off the debt you accrue – especially if you are only paying the minimum each month. Carrying too much credit card debt can make it harder to get a loan for a house or a car should you need to. It can also be enormously stressful if you fall behind and end up in the crosshairs of a collection agency.
So before you get any deeper in debt, it is time to get your financial house in order and develop a plan for paying off your credit card debt. Here’s how:
Stop Using Your Credit Cards Immediately
If you are really serious about paying off your credit card debt, then you better stop using them. Otherwise, you are just continuously adding to the debt you are trying to pay off. Take them out of your purse or wallet, lock them away, or shred them if necessary.
Set a Budget and Stick to It
Setting a strict budget will help you avoid unnecessary spending. Start with your monthly wages and calculate how much you need for rent or mortgage, utilities, transportation, and food…