Predatory lending is the use of fraudulent, deceptive, and unfair tactics some people use to dupe others into loans that they can’t afford. It is closely tied to the concept of subprime mortgage lending, which is the practice of making loans to borrowers who do not qualify for the best market interest rates. In Canada,…
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Do you need to invest? There are definitely a lot of reasons you should, so here are 3. 1. You’re Losing Purchasing Power Basically, you’re losing money every year you wait. Without investing, the value of things you can buy every year goes down. Inflation is high enough that the interest you make on cash…
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The Bank of Canada raised its interest rate to 0.5 per cent on Wednesday. This increases the cost of borrowing money in Canada. Here are 5 facts you need to know about the interest rates and inflation. 1. When The Bank of Canada (BOC) raises its interest rate, interest rates at all other banks in…
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Let’s face it. Budgeting and saving aren’t the most exciting things about financial literacy. However, investing can make saving fun because you can make more money. Saving isn’t boring when you can see your investments grow right before your eyes. If you’re new to investing, getting started can be overwhelming. While I’m not an experienced…
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