Category Archives: Personal Finance

Report: Canadians are in Debt, but Mostly the “Good” Type

By CCC Admin | Filed in Economy, Personal Finance

Spending Too Much

Canadians are up to their ears in debt, but at least It’s mostly the “good” type. The average Canadian was $93,000 in debt in June 2015, up from $76,140 last year, according to a Bank of Montreal report. The report looked at overall household debt in the country. The top two types of debt for most Canadians is credit card debt and mortgage debt.

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Millennials are warming up to credit cards, but on their own terms

By CCC Staff | Filed in Personal Finance

Mobile Banking Photo

Young adults are increasingly wary of big banks. In fact, they pretty much hate them. According to a U.S. study, millennials said large banks made up four of their top 10 most hated brands. That’s powerful, and damning to an industry entrenched in old ways. For large banks, the challenges are many and they will no doubt face competition from savvy financial-tech start-ups like Borrowell and Koho.

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3 Ways Credit Cards Can Help With Your Wedding

By CCC Admin | Filed in Personal Finance
Paying Florist with Credit Card

Wedding decorations and floral arrangements can cost more than $1300!

Getting married is a joyous occasion – it’s also a costly one. The facts don’t’ lie – the amount couples spend on weddings keeps going up each year. The average cost of a wedding comes in at $22,429, according to a WeddingBells.ca survey. If you’re planning to take a honeymoon, it will cost you even more – on your wedding and honeymoon together be prepared to spend an average of $27,899. By using your credit card responsibly (only charging what you can afford to pay off in full), it can lend a helping hand on your wedding day.

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When You Move, Don’t Let Bills Haunt Your Credit

By CCC Staff | Filed in Personal Finance
Moving Boxes

Photo credit: Matt Cornock via flickr CC BY-NC 2.0

With the real estate market booming, housing is becoming increasingly expensive. There seems to be no end in sight for home price increases. The average detached home costs over $1.1 million in Toronto and Vancouver. With home prices heading towards the stratosphere, first-time homebuyers face the risk of being priced out of the real estate market.

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Purchasing Your First Home: 3 Things to Consider

By CCC Staff | Filed in Personal Finance

Mortgage Loan Agreement

Purchasing your first home is a major life-altering decision. Similar to getting married and starting a family, buying your first property has a major impact on your life and finances. Before you can purchase a home, it’s important to prepare ahead of time. Here are three things to consider when purchasing your first home.

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Credit Card Guide – How to Choose, Use, and Manage Credit Cards

By CCC Staff | Filed in Credit Card Tips, Personal Finance

Credit Card Guide

Most of us have heard the horror stories of misusing credit cards. Exorbitant fees, sky-high interest rates, and financial ruin are all there in gruesome detail. On the other side of the coin, financial writers tout the virtues of credit cards; rewards, credit-building, and convenience.

We’re not here to sugar coat the reality of using credit cards – if credit cards are not used responsibly, bad things can and do happen!

The purpose of this 8 step credit card guide is to, well…guide you through the process of choosing, using, and managing a credit card responsibly. Through responsible use, we’re strong believers that credit cards can help improve people’s finances. This guide will help prepare you for that journey.

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