Top 3 Reasons to Pay Off Your Overdue Credit Card Balance

Robert PalumboBlog

FB Out of Red Canada

Have you ever felt alone in your struggle with overdue credit card balances? Does your debt never seem to disappear no matter how hard you try to save? You’re not alone. Credit card debt is a serious issue affecting millions of Canadians. In fact, a recent National Omnibus Survey commissioned by Borrowell found that 56% of Canadians struggle or have recently struggled with credit … Read More

Matrimonics: The Economics of Marriage

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wedding loans rings

It’s February and Love is in the air! But according to a survey from Weddingbells  magazine, love (or at least marriage) doesn’t come cheaply. Here are the average costs of a wedding in Canada according to their survey:   Surprised by how much everything adds up to? What surprised us the most is how few couples have the funds saved up … Read More

5 Questions With Bruce Sellery

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One of our favourite blog features is called “5 Questions With”, in which we pose 5 thought provoking questions to various prominent members of our community.  In this week’s blog post, we ask 5 Questions to Personal Finance Guru Bruce Sellery! Bruce Sellery is one of the top personal finance experts in Canada. The Founder and author of Moolala (a personal … Read More

Credit Card Bills Causing Shame for Canadians

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Credit Card Bills Causing Shame for Canadians Majority of Canadians would rather admit their weight or salary than credit card debt TORONTO (January 13, 2016) – The holidays are over. The most depressing day of the year, Blue Monday, is almost here and holiday credit card bills are starting to roll in. According to a recent survey, Canadians are feeling … Read More

10 Easy Tips to Save $5,000 in 2016

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2016 Tips

Saving $50/month might not sound like much, but if you can find 10 different ways to save about $50 every month, it adds up to $5,000 a year. And if you’ve got family, the household savings can be really significant – multiply by the number of people in your family! Here are 10 money saving tips to lower your monthly bills … Read More

The State of Canadian FinTech in 2016

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In 2015, the financial technology or “fintech” revolution took flight in Canada. From coast to coast, tech-enabled upstarts are working hard to improve the financial well-being of everyday Canadians. Fintech companies achieve this goal by leveraging technology to make things faster, design a better customer experience, all while working to charge less than the big banks. See this infographic to view the various segments of … Read More

How To Make a Holiday Budget

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holiday budget tree

Holiday spending got you worried? You might need a budget. If you’re like most Canadians, you may be spending more on the holidays this year. A recent CIBC poll showed that we expect to spend on average $652 on holiday shopping this year. That’s on top of our regular monthly expenses. If you’re thinking, “I’ll just put it on my credit card and worry … Read More

8 Ways To Improve Your Credit Score

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checkingyourrate

Does your credit score need improvement? Here are 8 ways that you can improve it: 8. Pay Household Bills On Time Paying your bills on time every time is one of the best things you can do to improve your credit score. This shows any potential creditors that you are financially responsible. Creditors have different grace periods, so it is important … Read More

Get Out Of The Red This Black Friday

Robert PalumboBlog

outofthered

Did you know that Canadians spent an estimated $13.4 billion over Black Friday weekend last year? That is mind blowing. To put that figure in perspective, that is a greater dollar value than the annual GDP of Iceland . And that was 2014. In 2015, CTV News says that this Black Friday is projecting to be the largest on record. According to CTV , Canadian consumers have … Read More