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Top 11 Budgeting Mistakes

One of the foundational personal finance lessons is to create a budget and abide by it to track inflows and outflows effectively. However, developing a budget is not entirely straightforward and there are certainly some mistakes made in the process, especially by novices. This article aims to highlight some of the most common mistakes and provides suggestions to mitigating them to advance towards a more prosperous, financially literate lifestyle.

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Most Common Loan Application Mistakes

At some point in our lives, most of us will apply for a loan of some type, whether it be a personal loan, or a mortgage or a start-up loan for a new business. While technology has significantly improved our ability to evaluate the offerings available to us and apply, there are still mistakes that can be made in the process that can be financially detrimental. Loans normally are taken out for large purchases such as a house, car or other such investment or expense. Therefore, it is important to be even more diligent when making such a big-ticket purchase to avoid unwanted consequences at a later stage.

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Newcomer to Canada Loans

Introduction Newcomer loans are defined as debt that is extended to people who have arrived into the country not too long ago as landed immigrants. Read More

Savings Guide: How to Save Money in Canada

by Kevin Silver

Whether you're just old enough to begin understanding the financial world and its complexities, or you’re at the age where you truly appreciate the importance and responsibility of making wise monetary decisions, one word that has been there by your side through thick and thin is savings. You’ve either had it force-fed to you for as long as you can remember, or you are currently force-feeding it to someone else, but regardless of your position, what exactly are savings, why is it important and how can we achieve it?

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Our loans are considered short-term loans and have up to a 6-60 month term with an interest rate ranging from 3.4%-20% per month.

Example: $1,500 borrowed for one year at 3.4% per month. Monthly payments are $199.05. Total payback with interest and fee of $194.00 is $2,388.54.

NOTE: You can pay off your loan at any time with no penalty. You will only pay interest up to the date you pay it off.