TRENDING  CHOOSING A LOAN AGENCY OR LENDER    

/consumer-education/

Borrowing

/consumer-education/

Borrowing

TRENDING  CHOOSING A LOAN AGENCY OR LENDER    

11.30.2020 / Borrowing

Tips for Applying for Debt Consolidation Loan
If you’ve been struggling to keep up with coordinating multiple different debt repayments every month, consolidating your debt could be a simplifying solution to help you keep better track of all your payments. For example, getting a personal loan can allow you to consolidate your debt or, in some…

11.24.2020 / Borrowing

Falling Behind on Your Mortgage? Read This
When economic times are tough, it's easy to start falling behind on crucial monthly payments, including your mortgage. Lagging on a mortgage may feel shameful now, but it's important to realize that it's a position many homeowners have found themselves in, and it's nothing to be ashamed of. When…

11.16.2020 / Borrowing

Documents You Need to Apply for a Personal Loan
Applying for a personal loan can be somewhat nerve-wracking. Taking some steps to prepare to apply and learning more about the application process can take the stress out of the process. When you know what to expect and you work with a reputable lender, you can feel confident about a favorable…

11.12.2020 / Borrowing

The Benefits of Refinancing Your Home
When you bought your home, you took out a mortgage loan to help cover the cost of the purchase. As long as you maintain that mortgage, you might think you're stuck with the rates and terms of your original loan, even if you improved your finances over the last few years. Though it might seem like…

11.10.2020 / Borrowing

Common Credit Card Mistakes
When used correctly, credit cards provide plenty of benefits to consumers. They offer a source of funds when you're low on cash, and they can help you make big purchases that you pay off month-by-month. Some credit cards will also include rewards, such as airplane miles or cashback bonuses.  On…

11.30.2020 / Borrowing

Tips for Applying for Debt Consolidation Loan

If you’ve been struggling to keep up with coordinating multiple different debt repayments every month, consolidating your debt could be a simplifying solution to help you keep better track of all your payments. For example, getting a personal loan can allow you to consolidate your debt or, in some…

11.24.2020 / Borrowing

Falling Behind on Your Mortgage? Read This

When economic times are tough, it's easy to start falling behind on crucial monthly payments, including your mortgage. Lagging on a mortgage may feel shameful now, but it's important to realize that it's a position many homeowners have found themselves in, and it's nothing to be ashamed of. When…

11.16.2020 / Borrowing

Documents You Need to Apply for a Personal Loan

Applying for a personal loan can be somewhat nerve-wracking. Taking some steps to prepare to apply and learning more about the application process can take the stress out of the process. When you know what to expect and you work with a reputable lender, you can feel confident about a favorable…

11.12.2020 / Borrowing

The Benefits of Refinancing Your Home

When you bought your home, you took out a mortgage loan to help cover the cost of the purchase. As long as you maintain that mortgage, you might think you're stuck with the rates and terms of your original loan, even if you improved your finances over the last few years. Though it might seem like…

11.10.2020 / Borrowing

Common Credit Card Mistakes

When used correctly, credit cards provide plenty of benefits to consumers. They offer a source of funds when you're low on cash, and they can help you make big purchases that you pay off month-by-month. Some credit cards will also include rewards, such as airplane miles or cashback bonuses.  On…

11.04.2020 / Borrowing

Managing Inquiries into Your Credit Score

Your credit score is an essential factor in determining whether you should receive a credit line. So, it makes sense that as you apply for a loan or line of credit that the lender should want to look at your credit score and report.  When a lender requests your credit report from a credit bureau,…

10.29.2020 / Borrowing

How Soft and Hard Inquiries Affect Credit Scores Differently

A good credit score works in your favor when you're seeking out lending, whether for a mortgage, a new vehicle, or something else. When you know you have a significant purchase coming up, you should be even more careful than usual to make sure your credit report is in good shape. However, as you're…

10.22.2020 / Borrowing

Money Mart - Here for the Hardworking

Money Mart - Here for the Hardworking   Money Mart in Canada on YouTube

10.15.2020 / Borrowing

How Do Personal Loans Affect My Credit?

It can be difficult to know whether to apply for a personal loan. You may need more funds, but you may also be concerned about how a personal loan may impact your short- and long-term financial goals. To help you better understand whether a personal loan will affect your credit score and if it can…

10.05.2020 / Borrowing

Boosting Your Credit in One Month

Your credit score is a key that can open many doors. The higher your credit score, the more competitive your interest rates can be for mortgages, auto loans, and credit cards. Although achieving a high score takes time and effort, there are several simple ways to boost your low score by a…

10.02.2020 / Borrowing

Applying for a Loan, What Lenders Review

If you've ever considered applying for a loan, you've likely found yourself wondering how exactly lenders decide on your creditworthiness. You may know that they check your credit score, but that only adds mystery if you're unsure what makes up this rating. To help demystify the process and make…

09.30.2020 / Borrowing

How Missed or Late Payments Affect Credit Score

Having good credit is very important in today's economy. Very few people can purchase houses or cars outright, so taking out a loan is often necessary, and your credit score has a big impact on your ability to secure a loan. One major way creditors factor your credit score is by your payment…

09.28.2020 / Borrowing

Should You Refinance Your Home?

Mortgage rates have reached record lows. With the economy now coasting into a recession, it is only natural that you might wonder if you should refinance your home. After all, the prospect of making potentially lower monthly payments is attractive. However, is this option right for you? That…

09.21.2020 / Borrowing

Requesting Payment Extensions Amid COVID-19

The 2020 pandemic has made even people who have never missed a bill payment start to wonder how to make ends meet. As businesses shut down across the country — some potentially never reopening — many people find themselves without jobs or between jobs. The good news is that you can request payment…

09.16.2020 / Borrowing

Rebuilding Your Credit After Debt Resolution

When debt obligations become too much for you to keep up with, settling the debt might provide the best solution. Unfortunately, it does have a downside; it can negatively impact your credit score. Even though the creditor agreed to the settlement, the fact remains that the amount offered did not…

09.10.2020 / Borrowing

How to Get an Online Loan with Poor Credit

When you have poor credit, the world of lending and borrowing might seem closed to you. If you prefer a cash budget and debit transactions, then this might not bother you at first. However, if you need to make a big purchase that surpasses your current budget, then you might worry about how to do…

09.08.2020 / Borrowing

Smart Tips for Navigating Online Loan Options

When it comes to financing a business, the smaller and newer it is, the greater the difficulties you can expect to face. Traditional companies often create several hoops for entrepreneurs to jump through, which can feel like too much for some. This opened up a niche for online lenders to fill by…

09.04.2020 / Borrowing

The Advantages of Online Loans

Before online loans became more popular and trusted, most people visited their banks in person to request a loan. Not only did traditional banks request a lot of documentation to get the process going, but they take a long time to process the loan. Depending on the type of loan, it could take weeks…

07.28.2020 / Borrowing

Tips on Increasing Your Credit Limit

Greater Possibilities  Credit cards and other lines of credit are great, but over time they can start to show their limitations, specifically the credit limit.  Each credit card or personal line of credit permits only up to a certain amount of money.  However, these limits can be increased over…

07.07.2020 / Borrowing

5 Good Signs You Can Afford More House

Moving on Up  Buying your first house is a huge milestone, but it’s often not the “forever home”.  Most people move into a home with a dream of moving into a better community, a bigger space, and with fewer needed repairs in the future.  But when is it time to start moving on up?  Here are a few…

06.10.2020 / Borrowing

Choosing a Loan Agency or Lender

How do you know who to trust with your finances? How do you know which loan is best for your needs? It would be simple to select the first lender that pops up in your online search, but taking out a loan is serious business. This is why it's in your best interest to do your homework before…

06.09.2020 / Borrowing

Navigating Federal Unemployment Relief Programs

COVID-19 first began making news at the end of February, but experts have determined that it began its spread as early as November 2019. Since that time, the virus has wreaked havoc on the world economy and cost countless people their jobs. If you are one of the people who lost their job as a…

06.09.2020 / Borrowing

Minimize Damage to Your Credit Score During COVID-19

Coronavirus has brought new worries to people around the world. In addition to the obvious concern about wellbeing and health, many people are worried about the financial impact that the virus will have on their lives. This is a reasonable fear to have as countless people have lost their jobs and…

06.09.2020 / Borrowing

Payday Loan Rates

  A payday loan is a short-term, unsecured loan for a set number of days. You should know and understand the fixed amount that you are paying for the loan. Money Mart charges a fixed amount per $100 borrowed depending on province. You will always find this information clearly posted in our store…

06.09.2020 / Borrowing

What Loan is Right for you?

Tips on Choosing a Installment or PayDay Loan Whether you have unpaid bills on your hands, you’re dealing with an unexpected emergency, or you just want to keep cash handy for a rainy day – there’s a loan that can meet your financial needs. If you’re looking for a little cash to tide you over…

06.09.2020 / Borrowing

Credit Talk

Your credit score is a reflection of your reliability based on past economic behaviors. It's used by creditors, landlords, insurance agencies, government agencies, even employers. It tells part of your financial story. There are many factors that contribute to your credit score. Most companies…

06.04.2020 / Borrowing

Canada Emergency Response Benefit - How to Apply

As part of its Economic Response Plan, Canada has implemented the Canada Emergency Response Benefit (CERB). Persons who have lost their income may qualify for financial assistance. Canada has provided detailed information on how to apply and eligibility requirements on the government website. The…

05.12.2020 / Borrowing

Is This the Right Time to Borrow Money? 

Avoid the Borrowing Blues In a desperate situation, borrowed money can seem like an easy way out.  But countless people have been crippled by student loans, credit cards, and car payments.  A loan is a binding legal contract, an agreement to pay back the money borrowed at the agreed upon interest…

05.12.2020 / Borrowing

When Is the Worst Time to Borrow Money?

It Is Not Always a Good Time  Advertisements are never going to advise caution when approaching their products.  The financing might sound cheap and easy, and the product might be appealing, but it is not always a good time to borrow money.  The long-term effects of debt are too serious to be…

04.02.2020 / Borrowing

How to Come Up with a Reliable Repayment Plan

It’s Payback Time Whether it is the mortgage, student loans or just a credit card, the inevitable time comes when repayment must begin.  Unfortunately, many people have no idea where to start and are even unsure where they stand in relation to debts versus income.  This seems to be particularly…

03.31.2020 / Borrowing

5 Important Tips to Becoming a Savvy Borrower

Reduce the Risk of Borrowing The shock of the Great Recession has largely faded, and people are less shy with debt than they were a decade ago.  The proliferation of student loans and credit cards has accustomed new generations to the idea of borrowing money and managing debt.  Of course, as…

03.31.2020 / Borrowing

4 Mistakes to Avoid When Borrowing

Borrow with Both Eyes Open Even with less than perfect credit, it’s easy to borrow money – sometimes a little too easy.  Situations arise when a loan is necessary, whether it is a big purchase like a house or a car, or in an emergency when cash is short.  But neither excitement nor panic should…

03.30.2020 / Borrowing

What Important Items You Need to Know Before Taking Out a Loan

The Precarious World of Borrowing Money Many students having just graduated college find that they are entering the world of adulthood saddled with student debt.  Add to that mortgages, car payments, credit cards and more, and the idea of debt can seem overwhelming.  With so many choices of…

03.20.2020 / Borrowing

4 Important Facts to Know About Installment Loans

Characteristics of an Installment Loan An installment loan is any amount of money that is lent to a borrower all at once, and then paid back in installments.  The average mortgage, car payment and student loan repayment plans follow this model.   Typically, an installment loan will have a fixed…

03.05.2020 / Borrowing

How to Better Understand Your Credit Score

  What is a Credit Score? Talking about your credit score is like talking about escrow – it’s one of those financial things that comes up all the time, but it is not always easy to understand.  But your credit score is not just a mysterious number, it is vitally important to several key life…

03.05.2020 / Borrowing

4 Simple Ways to Improve Your Credit Score

The Famous Credit Score Your credit score is a three-digit number that tells financial institutions how likely you are to pay back borrowed money.  It factors in payment history, total debt, number of credit requests, and more. A good credit score is essential to keeping financial options open and…