Debt Management

How Rising Interest Rates Could Actually Affect You

The Bank of Canada has raised interest rates 4 times since summer of 2017 and it is expected that they will continue to do so. Canadians need to prepare for a period of rising rates, as it will impact mortgages, lines of credit, student loans, savings accounts, and investments. A survey conducted by IPSO in 2016 indicated that 48% of Canadians are just $200 away from not being able to meet their financial obligations. With rates rising higher than they’ve been since 2008, households need to be aware of the impact rate hikes could have on them.

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TFSA Contribution or Mortgage Payment?

The question of reducing debt or contributing to savings will continue to be debated for as long as people plan to retire in Canada.

Of course opting for both: reducing debt and increasing savings is the ideal.  As for which is better, however, really depends on the individuals involved, their goals and feelings and their unique financial situations.

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Debt Load

Are you out of your debt comfort zone? Does it seem as though you’re paying too much to bill collectors and not enough for savings …

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Replace bad financial habits

By, Carla Hindman, Director of Financial Education, Visa Canada Most people have at least one bad financial habit. Whether it’s impulse shopping, forgetting to pay …

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