In this difficult time of rapidly developing capitalism and the growing number of various offers related to mortgages, many Canadians are thinking about a second mortgage. The housing market is either heading to a crush or it’s on an all-time-low, depending on your favorite expert. Uncertainty turns people to rushing with the decisions, and with… Continue reading What is a Second Mortgage – Risky but Rational
What Does APR Stand for and How to Use it to Your Advantage
Two well-known values reflect the cost of a mortgage – the interest rate and the Annual Percentage Rate, aka APR. The most common questions that come to mind when we hear about these terms are: “What does APR stand for?” “What are the additional costs I will have to pay?” If you decide to get… Continue reading What Does APR Stand for and How to Use it to Your Advantage
Is it Cheaper to Build Your Own Home? The Ultimate Decision-Making Guide
Is it cheaper to build your own home? Choosing a place to live may be difficult since it involves high costs and defines a big part of your future. At first, it may not be easy to decide whether it is better to buy a new house or build one. After looking at some of… Continue reading Is it Cheaper to Build Your Own Home? The Ultimate Decision-Making Guide
Emergency Fund 101: Step-by-Step Guide on Feeling Safer
During the pandemic, many Canadians have learned how important it is to put some money aside. Some did it the good way. Some, unfortunately, understood it only when their financial stability started to crumble. According to an FP Canada poll, 39% of Canadian households reported that their bank balances could not support financial emergencies, such… Continue reading Emergency Fund 101: Step-by-Step Guide on Feeling Safer
Inverse ETFs on the Rise: How to use Them and Avoid Slips
Inflation and the consequences of Covid-19 continue to impact all investments over the world. In these weird and unpredictable times, inverse ETFs turn into one of the most well-adapted (yet risky) investment options — and here’s why. How Does an Inverse ETF Work? The latest introduction of the Inverse Bitcoin ETF has made this investment class… Continue reading Inverse ETFs on the Rise: How to use Them and Avoid Slips
When Inflation is Your New Friend – 5 Situations When It Gets Useful
Inflation is one of the major subjects in the economic conditions of Canada, except for the restricted supply of households. However, it is not always bad. Although the Bank of Canada has established a target of 2 percent inflation for stabilizing the conditions after the pandemic, Statistics Canada revealed that inflation touched 4.1% on a… Continue reading When Inflation is Your New Friend – 5 Situations When It Gets Useful
Best Way to SAFELY Say Goodbye to A Credit Card When You Don’t Need It
If you want to cancel your credit card — you need to follow a few simple rules. The most important question here is, do you want to cancel one card or all at once? To avoid making mistakes — calm down and think twice about your decision. You need to close the card correctly, evaluate your financial… Continue reading Best Way to SAFELY Say Goodbye to A Credit Card When You Don’t Need It
The Benefits of Registered Education Savings Plan (RESP)
When we say that students need every help they might get, we do not only refer to academics! RESP is an example of such assistance that young people must have. Costs of studying in Canada keep rising, greater than incomes can cover. Average fees of undergraduate students increased by 3.3 percent to $6,838 from 2018… Continue reading The Benefits of Registered Education Savings Plan (RESP)
4 Tricks for Paying Off Your Mortgage Early
You know the general rule: interest accrues over time. On this basis, it is necessary to reduce the time of repayment of the loan if you don’t want to pay more interest. Here’s how you can do it. Why You Need to Pay Your Mortgage Early Everyone with a mortgage wants to repay the mortgage… Continue reading 4 Tricks for Paying Off Your Mortgage Early
5 Most Common Mistakes that Canadian Families Make in Life Insurance
A recent survey conducted by the PolicyMe portal on statistics on life insurance services showed that many families with children use the services provided by a life insurance policy. But there is sad news as well: the survey also resulted in the majority of respondents making the five most common mistakes that cost them extra… Continue reading 5 Most Common Mistakes that Canadian Families Make in Life Insurance