Are you in the Habit of Spending Money?
At a time when the government keeps warning us about record-high household debt levels, and people can’t seem to save more than they spend, the Everyday Money blog brings us an interesting post about a book written by David Krueger. The book is called “The Secret Language of Money” and in it, the author points…
Read moreWhat is the Overnight Rate?
Canadians watch the Bank of Canada’s interest rate like hawks, wondering what’s going to happen to the overnight rate and the prime rate. But aren’t these two the same thing? That is where it can get a little confusing. Historically the prime rate was the same as the overnight rate, so if you were referring…
Read moreEverything I Need to Know I Learned in Mortgage Class
Mortgages, second mortgages, home equity loans, and secured lines of credit. How many of us graduated from high school knowing everything there was to know about these topics? How many of us knew how much of a down payment we would need to buy a home; or even how much the average home cost in…
Read moreCanadians Getting Better at Paying Off Credit
Finance Minister Jim Flaherty and the government of Canada were so worried about household debt levels early last year that they imposed tighter rules on home loans including new mortgage insurance rules and tightening amounts loaned on secured lines of credit. That seemed to work for a little while, until later in 2011 when our…
Read moreWhat’s Better for Retirees: Reverse Mortgage or Secured Line of Credit?
Retirees certainly aren’t out of options when it comes to borrowing against their home equity. Reverse mortgages, home equity loans, and HELOCs are all options; and while this might sound like it’s giving seniors the best of everything, it can also be overwhelming because homeowners don’t know which one is best for them. It usually…
Read moreStill Haven’t Made Your Resolutions?
Many people spent their New Year’s Eve thinking about their resolutions and what they were going to change in 2012. But, if you’re one who hasn’t quite decided what you want to focus on, here are five financial resolutions that will help you this year, and for many more to come. Pay off your principal…
Read moreQuestions to Ask Before Marriage
For many people, the only question that needs to be asked before getting married is the obvious one – Will you marry me? But, asking a few financial questions could also make sure that the two of you remain richer rather than poorer. So, what are the big questions you should be asking? Do you…
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