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.
Bank of Canada Building by dneuman
Those with debt tied to the prime rate have reason to celebrate. The Bank of Canada has decided to once again to slash interest rates. After leaving interest rates frozen for nearly five years, the longest stretch in Canadian history, our central bank has already cut interest rates twice in 2015.
Popular travel rewards program Aeroplan has received its fair share of criticism over the years for its costly redemption system. Last year the Toronto Star wrote an article on an Aeroplan member who was faced with $2,200 in fees and taxes for a so-called free flight. In another article, many readers expressed anger in the way Aeroplan rewards are calculated and the amount of fees and taxes paid for flight redemptions. To say Aeroplan has received bad PR would be a huge understatement.
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.
Are you planning to travel to the U.S. this summer? If so, it’s important to plan ahead. With the Canadian dollar hovering around 80 cents, travelling to the U.S. can be a lot more costly if not done the right away. A strong USD means Canadian travellers and cross-border shoppers should look into ways to stretch their loonies. Using a US Dollar credit card is one of the easiest ways to stretch your loonie further.
Not only is June 21st Father’s Day, it also marks the official start to summer. Summer is the perfect time to get outside and enjoy the nice weather. Just because you’re on a limited budget, doesn’t mean you can’t have fun. There are plenty of fun and frugal ways to enjoy the warmest season. Don’t forget to bring along your trusty credit card to earn rewards whenever possible.
