Our Blog

Money Secrets in Relationships

Did you know that money can often be the cause of a breakdown in a relationship? A new survey shows 34 percent keep financial secrets from their partners. Creditaid’s Brian Denysuik shares one of the challenges couples have with over spending in Joel Schlesigner’s article in the Winnipeg Free Press, “Love is often blind to money problems.

 

wfp-ca-feb25

8 Ways to Increase Your Credit Score

credit-score

By Laurie Boudreau, Credit Counsellor, Creditaid

During the past 20 years, I have analyzed thousands of Canadian credit reports from Equifax and Trans Union and can tell you an interesting fact. People with the highest credit scores pay the least amount of interest. Why? Because the higher your credit score is, the lower the risk is for a creditor to lend you money. It’s the same concept as for why young people pay less for life insurance than old people pay. You are less likely to die when you are young. Same goes for credit scores. If you have managed your credit well chances are you will continue to do so, and the creditor will get their money back. This is why they are willing to offer you a low-interest rate.

If you have not seen your credit report recently, you need to do this now by going to www.equifax.ca and www.transunion.ca
You need to know what your credit report contains before you can take the steps necessary to improve your score. No matter how low it is today, the good news is that your credit score can go up very quickly. By following the steps below, you can dramatically increase your credit score within two years.

1. Starting today make all your payments on time.
One of the key behaviors that creditors like to see is on-time payment of bills. Since this is one of the strongest predictors of a consumer’s likelihood to make their payments in the future your credit score will be high if you have made all your payments on time.

(more…)

Black Friday, Cyber Monday and Holiday Spending

680 CJOB, Winnipeg’s news talk radio, Hal Anderson recently invited Creditaid’s, Brian Denysuik to join him on air to help get people through the holiday spending season. Brian provides advice on how not to overspend including a few tips on how to create a “Save to Spend” holiday plan to help alleviate stress and avoid going into debt this holiday season.

Listen to the discussion below.

2nd Annual St. Amant Party: Camp for 100!

Creditaid’s Brian Denysuik recently co-chaired St. Amant’s 2nd Annual Party – Camp for 100. St. Amant is the largest provider of community living services in Manitoba, supporting individuals and their families with residential options, family care, and outreach services, as well as operating a growing program for pre-school and school-aged children living with Autism.

23800263_10155674440401346_5448768410764489612_o

dsc_2009r

(more…)

Canadians Not Meeting Debt Reduction Goals

Manulife Bank of Canada released their debt survey which revealed that many Canadians are not meeting their debt goals. Creditaid’s Brian Denysuik was on the air at CBC Radio with Caroline Barghout to discuss the survey, provide advice and tips on how to save to spend, budget and the steps to take to relieve stress and become debt free.

Listen to the broadcast below.

Does Consumer Obsession Lead Us to Over Spending

The desire to “keep up with the Jones’s” has become more than a social status issue for many people.

Also, it is effortless to get caught up in a holiday season.

creditaid-overspendingIt has become a catalyst for overspending that has consumers running to banks and other lenders looking for ways to finance their purchases.

This issue also has countless consumers loaded up with credit card debt so steep it may take them a lifetime to get out of it.Give your financial literacy a good double-check, and if you are not already practicing the following financial practices, now is a great time to start today:

Pay bills on time and balance your cheque book each month. You can’t know how much you can afford to spend if you don’t know how much you currently have to spend.

Stop buying on impulse. If you want something, rather than charging it on your credit card and paying interest, save for the next few month and buy it when you have the money.
(more…)