As you may know, November is Financial Literary Month. Now that the month is winding down, you’ve had lots of opportunities to learn about how to manage your finances better and get and stay out of debt. While learning about fiscal responsibility you may have found yourself thinking the only way to maintain financial health is to cut up all credit cards. Surprisingly, nothing could be farther from the truth. In fact, if you use credit responsibly, you can improve your financial circumstances.
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Cash back cards are a great option for those financially-responsible, savvy-spender types. You know, the guy or gal who is never late with a payment, pays their credit card balance off each month, and uses their card for…well, everything.
Since cash back cards generally come with higher annual fees and interest rates, they’re better suited for those who consistently live within their means and pay on time. If you fall in this category you should consider switching to a premium cash back card. According to Moneysense, one of the top cash back cards in Canada is the Scotia Momentum Visa Infinite Card.
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?
Should You Give Your Teen Your Credit Card?
Posted July 4, 2013 in Credit Card Tips, Personal Finance
It seems innocent enough. Your teen needs some new clothes & you definitely don’t have the energy to watch them try on every latest fashion trend, so you hand them your credit card with clear and concise instructions, and watch them drive off into the sunset. Over the years your child has shown they are responsible and can be trusted with those secret 16 digits, so you have nothing to worry about. Or do you?
Canadian Newcomers: Starting Your New Life & Establishing Credit
Posted July 3, 2013 in Credit Card Tips
After months of preparation and weeks of living amongst towers of cardboard boxes, you’ve finally arrived in Canada. You have a job, somewhere to live and may even have some of those moving boxes unpacked. Unfortunately, there are a lot more items on your To Do List – such as getting the kids enrolled in school, finding a family doctor & learning your way around town. You’ll also want to add getting identification, a SIN and a banking account. Oh and then, there’s establishing your Canadian credit history…
Moving to a new town, let alone a new country, can be confusing & overwhelming. It’s difficult to know where to even start sometimes. Here are some helpful tips to starting your new financial life in Canada.
It’s your lucky day. While walking down the street, you find a lonely bill, solemnly laying on the sidewalk, just waiting for a delightful new owner. You rescue the bill from the dangerous sidewalk, pick it up and cheerfully place it in your pocket. This unexpected gift from the money gods will definitely make up for the horrible day you’ve been having! But, then what? Do you spend your new found friend or save it for a rainy day? A recent poll by Scotiabank found that what we do next, all depends on the amount.