There are many upsides to having a credit card, such as building one's credit score, making certain purchases, and even earning cashback points. With the right practices and money management habits, people can do quite well and set themselves up for financial success. However, without the proper knowledge, individuals who manage to obtain credit cards can wreak serious damage upon their financial standing and sink themselves into debt …
The negative impacts of bad credit are extremely well-documented. The Balance strongly affirms that bad credit is generated by bankruptcies, property repossessions, late payments, and other poor financial decisions. Individuals who suffer from bad credit are furthermore likely to be charged higher interest rates and higher security deposits. They may also be denied loans altogether or have apartment applications turned down. Nevertheless, with the right lifestyle changes, bad …
Low credit score--you had no idea! How did it happen without you even being aware? Look, if you don't pay attention to your financial habits and work to keep your credit rating healthy, it will drop, and you won't be alerted about that either. It's murky waters out there, but you can keep from drowning. Too many Canadians are hit hard with a poor credit score they had …
Finances can be confusing to many young
Canadians across British Columbia
--and stressful, I know this personally. It is never easy admitting mistakes we might have made in the past, especially when it comes to your money and spending--but it is the only way you can really transform for the better. Now, it is common to make money mistakes in your 20's and 30's, and even sometimes into …
Yes, credit cards can be useful
financial tools
if they are used responsibly--unfortunately, credit cards are highly mishandled, everyday and all across the globe. Too many see these as a means to an end, or a reason to splurge on those things they wouldn't ordinarily have considered purchasing. Furthermore, financial experts find that too many turn to credit cards to support their monthly living expenses, something that is …
Are you aware of the facts and myths associated with settling your mounting
credit card debt
? This does apply to those who struggle with climbing interest rates and late penalty payments on credit cards too. Year after year consumer debt has risen 4.9%, according to financial analysts and this gives pause for concern when it comes down to Canada's financial stability. One of the most prevailing factors …