Most consumers typically have both a credit card(s) and a debit card. Of course, the biggest difference between the two is that a debit card will immediately take money out of your bank account when used, unlike a credit card, which will pay for the purchase and later add the amount of the transaction to your monthly statement.
But are there any other differences between the two?
Whether I am busy at work or simply relaxing at home, the one thing that is always by my side is my phone. This is hardly out of the ordinary; over 30 million Canadians currently own a cell phone1. Our handheld devices are now the primary method of communicating with others, entertainment, planning our schedules, and even dealing with our bills.
Let’s talk about the elephant in the room that gets swept under the rug all too often when discussing our finances: personal debt. Our bills for borrowing can suddenly rack up as we establish new lines of credit and loans that are all too easily accessible via mail offers or pre-approvals. A 2017 poll conducted by Ipsos noted that Canadians with any amount of debt averaged $15,473 of consumer debt1.
Fall is finally here. The leaves are changing, the days are getting shorter, and your worries seem just a little bit further away. But folks, I’m sorry to say, sometimes storms roll in on the most beautiful of days. And if I’m honest, the world is a bit of a scary place at the moment, with politics impacting the economic climate, and warmer temperatures affecting agriculture all around the world, the future is perhaps not as certain as it once was.
Record keeping doesn’t have to be difficult. Now that tax season is over, we’re sure you can see the value in keeping your records organized (and the stress it causes when they aren’t!) Implementing a file system is very easy. As soon as you receive mail – open it, file it, and POOF! You’re done. We’re only a few months into the year, so it’s not too late to start filing your important papers somewhere – somewhere you won’t forget, that is!
Life happens. It’s a fact. Imagine meeting the love of your life, getting engaged, you’re working hard to save for the wedding and suddenly…Life happens. You know, those unfortunate events that occur at the absolute worst time? And they always suck! Your spouse becomes unemployed, you get in a car accident, a family member that lives in another province passes away – all reasons you may need to tap into your wedding savings. Not cool.