Why You Should Pay Off Your Mortgage Early

By Karl Thompson A home loan is the biggest debt that most people carry. With average mortgage terms spanning 20 to 30 years, you’ll be paying on your home for decades. You can check out your payoff terms by using a calculator at one of the many financial information websites. By paying off your home loan early, you can work toward other financial goals and have an asset in your name that you completely own. Save on Interest The real … Continue reading

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Plan Early For A Calmer Retirement

By Michael Edmondstone Planning for retirement can be a tricky endeavour: it’s all about calculating odds and balancing probabilities. Many Canadians don’t even start thinking about ways to start saving for a wealthy retirement until mid-career, which means they must make larger lump sum payments to meet their retirement fund goals or face an otherwise uncertain financial future. The key to enjoying a worry-free retirement early is planning early. Consider implementing these savings and investment tips to help you retire … Continue reading

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5 Ways to Save Money when Going to a Concert

By David Treehouse While I love to go to concerts like Willy Mason, I usually have two problems that both deal with money. The first is that ticket prices can be expensive. The second is that once at a concert, I can end up spending a whole lot more money that I intended which ultimately results in me being able to attend far fewer concerts than if I didn’t spend a whole lot. These are some of the ways that … Continue reading

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Ways To Reduce The Cost Of Your Utility Bills

If you are like most Canadians, you adjust your home’s thermostat as needed for comfort without giving much thought about how those adjustments will affect your utility bill. You may turn on and off your faucets, run the washing machine and more without considering how much your water bill will be at the end of the month. Then when you open your water and energy bills, you are forced to pay the amount due. It may seem as if the … Continue reading

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How to Rescue Bad Credit

Article written by MoneySupermarket Do you have a bad credit record or do you have no credit history? Getting credit when you’re in either of these situations can be incredibly difficult, here I’ll detail some simple tips that you can do to try and get your credit record back on track! Do you have any credit? This might sound strange but if you have no credit history then credit cards and loans will actually work for you, as they will … Continue reading

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Ways To Save Money On Healthy Food Giveaway

When it comes to debt reduction and looking at budget expenses, many are fixed and there is very little that can be done to reduce them. One area where costs can be cut is with the grocery budget. Unfortunately, many people decide that the only way that they can save money on their food budget is to begin purchasing unhealthy food. This is nothing more than an excuse for being lazy. While you may need to work a little harder … Continue reading

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10 Ways Ditching Your Car Can Save Money

By Danielle Warchol When people think about getting a car, especially a second car, they often look into the best green cars to help the environment and save money. When a car is truly needed, this is a good way to go, but more and more people are actually doing something that was once considered radical. They are foregoing a car (or second car) all together. Not only is this the greenest choice, it can also save a lot of … Continue reading

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How to Effectively Generate Rental Income from a Second Home

The opportunity to generate extra income from a second home has never been greater. This is down to the simple fact that more people are looking to rent rather than buy due to the unstable economic environment. If you’re in a position where you can buy to let there is some serious money to be made, but it’s not a complete walk in the park as there are still some things you’ll have to sort out before you can begin … Continue reading

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$125,000 of Debt

By Debt Avalanche As part of the debt avalanche, we ended up getting rid of $125,000 worth of debt in 9 months. Here is how the debt was broken down: credit card 1: $8,250 @ 6.9% credit card 2: $5,300 @ 8% credit card 3: $13,500 @ 9.9% credit card 4: $6,600 @ 17% credit card 5: $19,800 @ 23.5% car loan 1: $24,000 @ 2.9% car loan 2: $6,000 @ 4.2% student loan 1: $30,000 student loan 2: $12,000 … Continue reading

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Debt Avalanche

By Debt Avalanche There is an elephant in the room when it comes to debt reduction that nobody seems to want to talk about — that people want to keep their current lifestyle as much as possible while reducing their debt. The fact is that 99% of people that begin the debt reduction process do so while trying to keep their current lifestyle in tact as much as possible. I decided that for me this was the wrong way to … Continue reading

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