Mortgage Renewal Time

It comes in the mail to thousands of Canadains everyday ... a mortgage renewal from their bank.

According to CMHC more than 60 % of renewals are signed and sent in.  Many home owners pay 1,000 of dollars too much for their mortgages because they don't review their current needs before they renew.

Here are three things you should consider before you sign the paperwork to renew your mortgage....

What Credit Cards Numbers Mean

Take out your credit card(s) and ask yourself a question. Why does the credit card company use the numbers is uses? Just like cheques these numbers have a financial purpose.

I found this infographic today on the mind.com blog and it answers what your credit card numbers really mean and are used for.

Great infograophic below!

5 Ways to Spend Less Now

Spending less is like going on a diet. We rely on will power with out a method or system to reach our goals. And just like most diets we are doomed to failure.

Over time our debt starts to balloon and the only solution is a drastic change of spending habits. Unfortunately, just like crash dieting, the lasting effects of these changes only end in frustration and we eventually give up.

For most of us spending too much is not an illness but is a learned behaviour. The good new is this  behaviour can be changed.

After more than 15 years in the financial industry watching what works and what doesn't, here are 5 proven strategies that work in every day life to spend less and have more control over your financial life.

How Credit Cards Make Money

Credit Card Companies make billions of dollars every year. We all know this and except this reality when we choose to use plastic. 


But just how is all this money made? 


You maybe surprised to find out that a credit card company makes money in four ways. (Make sure to check the diagram below for a complete illustration)