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How to Leverage Debt to Work for You

The trick to making debt work for you is two-fold: choose your debt wisely and learn how to properly manage it. This all sounds simple and straightforward, but if you’re new to managing your finances, it’s hard to know where to begin.

If you think you can’t learn how to manage your finances, or that you’ll never be able to use debt to your advantage, you’re not alone—thousands of Canadians across the country are in the midst of that same struggle! In the sections below, we’ll give you all the tools you need to succeed, including the difference between good debt and bad debt, and some practical tips for leveraging debt to work for you.

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What is Good Debt vs. Bad Debt?

Even if your plan isn’t to become outrageously wealthy, the path to financial success means understanding how to manage your money, including how to leverage debts. In the sections below, we’ll outline the differences between Good Debt and Bad Debt and show you how to structure your finances for success.

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What is a Credit Score and How Do You Increase Yours?

In a world where so many things depend on your credit health, having a good score means much more than being able to afford the things you want or need—it means having financial freedom. It’s getting a 4 percent interest rate on your loan instead of 10 percent. It’s the peace of mind to know that you can confidently apply for a personal loan, put an offer in on your dream house, or finance that cross-country trip you’ve been dying to take. It’s knowing that you can get the financing you need, exactly when you need it.

But before all of that financial bliss and freedom begins, you’re going to have to get a good understanding on what your credit is and how you can start improving it. Here are some facts and tips on how you can start boosting your score today.

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What is a Money Order and How Do You Get One?

We all send out payments in many ways each day. Whether it’s getting your morning latte, buying a new pair of winter boots, helping a friend in a financial crisis, or paying electric and internet bills, you’re making payments. And not surprisingly, there are tons of different ways to send your money into the right hands.

Next to good old fashioned cash and cheques, one of the more traditional forms of sending payments is through a money order. If you haven’t used one before, you might be surprised to learn that they’ve actually been around for over a century. They were first introduced in 1882 by American Express, later becoming known as traveler’s checks (take that to your next trivia night).

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Meal Planning on a Budget

If you’re struggling with figuring out how to fit your daily meals around into your budget, keep reading! We’ll give you the best tips on how to maximize your budget by decreasing the money you spend on groceries—and how to do it all without going into starvation mode.

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How Credit Cards Make Money and Why You Can Be Stuck in Debt

There’s no denying that credit cards are great to have on hand. They let you cover emergency costs, help you pay larger purchases in small increments and many offer cash back, airline miles, hotel stays and even gift cards as a reward for spending. And let’s not forget that credit cards are a huge factor in your credit score, which impacts your ability to buy a home, purchase a car, …

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Competitive rates, easy online application process helps My Canada Payday thrive in challenging market

While many Canadian short-term lenders are feeling the squeeze due to new government regulations restricting rate increases and tightening municipal bylaws aimed at limiting the number of physical storefronts, established lender My Canada Payday is seeing an increase in business, mainly due to the company’s longtime commitment to utilizing technology to make its service easy and accessible.

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How to Structure Your Monthly Living Costs

Learning how to manage your finances is something that everyone struggles with as a standard part of Adulting 101—and even “being an adult” doesn’t really mean that you are an expert budgeter. Your personal finances are subject to a wide range of fluctuation throughout your life, as you move from one job to the next; change apartments; purchase a home; build a family; start travelling, and so on.

Maybe you …

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How to Make Your Money Work For You

You’ve got a steady job, you can pay your bills on time, and maybe you can even start hiding a little bit away into a savings account—but is your savings account really growing? Isn’t there a better way to build your financial health? After all, making money is just the first piece of the puzzle.

For many people, knowing what to do with it afterwards (and how to make their …

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Does Saving Money Really Work ?

Simply put, saving money is hard. Just meeting your monthly bills can be challenging enough, and it’s tempting to put extra cash towards fun things, like a day out with friends or an impromptu date night. Getting into a consistent habit of saving takes dedication and it can certainly be stressful if you’re already tight on budget.

Even if you can only put away small amounts each week, is all …

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