‘Tis the season of wedding registries, Best Man speeches and First Dances. Yes, summertime is definitely the season for weddings. An estimated 165,297 weddings will take place this year in Canada, with almost half of those couples saying ‘I do’ between July and September. Not surprisingly, August comes in as the most popular month for those blessed nuptials. About 82,000 are getting married this month alone.
With cash transactions only accounting for 20% of transactions in 2009, compared to 50% in 1990, many experts believe we are quickly moving towards a cashless society.
Not only are we using credit cards for almost everything, but we are also increasing our online shopping and banking – leaving our local ABMs sad & lonely. Think about it, when was the last time you had to wait in a long line for the ABM? In ten short years we have seen a dramatic decline in the use of cash. But, will this trend continue, leaving future generations completely cashless?
It’s the end of the month and you just need a few toonies to get you through pay day… so you take your credit card down to the nearest ABM. You easily walk away with cash in hand, now able to pay rent or eat at your favourite ‘cash only’ cafe.
That was simple enough, eh? Like a trustworthy friend, your credit card was there for you in your time of need. There to loan you cash, no questions asked.
You may think your card was looking out for you, but, what you may not realize is once you removed that cash from the ABM, your card just transformed into a dangerous Loan Shark!
If someone came knocking at your door, pretending to be a representative of your banking institution, asking for your personal information, you definitely wouldn’t give it to them…so why would you do the same thing on your computer?
We believe credit cards are a valuable financial tool – when used responsibly. Your spending habits and financial goals should play a part in deciding what card is best for your unique situation. However, searching for the perfect credit card can be overwhelming and stressful. With so many options available, it’s hard to know which one will best suit your needs. We want to make sure your new credit card “fits you like a glove,” so here’s a quick cheat sheet to know which type of card to apply for…
We are always on the look out, to see what you have to say about credit cards – whether it’s a question, comment or just a funny tweet about how you use your card.
The following tweets have earned the honor as our Best Wisecracks for June:
When your 14 yr old asks for your credit card, it's a good idea to ask what he is buying… pic.twitter.com/Pqx6WX1vlx
— April Wheeler (@LABeachmom) June 13, 2013