There's been a rise in the pawn industry as people look to sell off personal items in order to do any number of things from pay off debts to maintain lifestyle, to grow new businesses where other financing avenues are not available to them. Here are five situations where pledging personal assets as collateral can save you money.
Women: pay attention to your disconnection from your money. The average age of widowhood is 56. Women, you need to take control. What is important to realize, as well, is that this isn't an all or nothing proposition. Many of the women who were direct investors also maintained a relationship with an advisor. You don't have to make an absolute choice to go it alone.
An overwhelming majority of Canadians say that they still manage to save for the future, while many acknowledge that they have had to cut back on both spending and saving since the economic downturn. While nine out of 10 Canadians have some form of savings, which is indeed good news, 72 per cent also carry some form of debt. But there are ways to help find a better balance between spending and saving.