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Category: Personal Finance (6 posts)

Banks will start offering government-backed loans to small businesses next week

Banks will start offering government-backed loans to small businesses next week

April 1, 2020 | Posted by: Maurice Kwok

Canada's banks are preparing to start offering government-backed loans to small businesses as soon as next week amid a flood of requests for relief from business owners. Banks have been rushing to ro ...

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Trudeau asks banks to work to alleviate the burden of credit-card interest rates

Trudeau asks banks to work to alleviate the burden of credit-card interest rates

March 30, 2020 | Posted by: Maurice Kwok

The federal government is in talks with banks to find ways to alleviate the burden of credit-card interest rates for Canadians facing financial stresses caused by COVID-19, the Prime Minister’s ...

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Canadians’ debt burden rises, sparking concern

Canadians’ debt burden rises, sparking concern

December 16, 2019 | Posted by: Maurice Kwok

Canada’s household debt burden is on the rise as individuals and families took on billions in new mortgage debt during a period of markedly lower borrowing rates. The household debt load, more ...

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Personal insolvencies hit highest level in a decade

Personal insolvencies hit highest level in a decade

December 3, 2019 | Posted by: Maurice Kwok

During October, Canadians filed the highest number of personal insolvencies in a decade, the latest sign that households are struggling to cope with elevated debt loads. There were 13,200 consumer in ...

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Less savings, more debt: Inside a multi-decade shift in Canadians’ finances

Less savings, more debt: Inside a multi-decade shift in Canadians’ finances

November 11, 2019 | Posted by: Maurice Kwok

Canadians are saving much less than they used to, the result of a long-term shift in incentives that has favoured borrowers over savers and seen households pile on billions of dollars in mortgage debt ...

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Six ways the Liberal election win will change your family finances

Six ways the Liberal election win will change your family finances

October 22, 2019 | Posted by: Maurice Kwok

We will find out shortly if government can fix what’s wrong with your finances. The Liberals won the 2019 campaign with a platform focused on helping to ease the financial strain of everyday li ...

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