"I have a credit record for my phone bill but not my rent.”
A poor credit score could hurt you, but there's a way to change that.
Here are tips for each decade of your life that will help you not only survive, but thrive, with your finances.
If you're in a serious relationship, your partner should know where you stand financially before making any major decisions.
Encouraging men to take active roles in unpaid care and domestic work and adjusting their perceptions around women's productive and reproductive roles goes a long way in enhancing women's economic empowerment.
Stats show that millennials prefer to use debit cards to credit cards for their purchases. Millennials are the first generation to grow up with debit cards, which may explain this pattern. Several findings prove that this generation isn't fond of credit products. The reasons for this may be many, but the top may be controlling spending and fear of debt. This lack and hesitance to use a credit card among millennials is causing them more harm than good in the long run.
What you don't have to do forever is live with debt. You don't have to spend every month calculating how much you can afford to put towards debt repayment, while continuing to use credit, and staying in the never-ending cycle of borrowing money and trying to pay it back. It's not an easy cycle to get out of; I know that firsthand.
Have you ever thought how much more money you spend travelling across town to use that store or get extra rewards? How many points apps or websited do you have on your phone and how do they change our natural behaviour? When we count up the effort, is it worth the reward?
Dave Baker is a used car salesman on a mission to make Canada a more fair and equitable place. Go ahead and take a moment. Be skeptical. It took me six months to overcome my initial aversion to the predominant narrative of auto sales. I was sure that there was a catch. There had to be a bait-and-switch somewhere along the way.
Lenders have been using a person's credit report for years to judge their overall creditworthiness and the risk that they might default and become a bad debt. However, financial institutions often use another measure, a bankruptcy score, to refuse a loan application for someone who may otherwise have good credit.