Tag: Credit

A Study on the Impact of the Changes in Payday Loan Regulation in Alberta on Borrowers

Dear Potential Participant: Have you taken a payday loan in the last three years?  If yes, We would like to invite you to participate in a research being conducted by a team from Mount Royal University in collaboration with Momentum. We are interested in talking to you about your experiences with payday loans to understand whether and how you have been impacted by the changes… Read more

Money and Marriage

We’ve all heard that finances are a major source of stress for couples, in fact, there are many articles and research that says finances are reported to be one of the top 10 reasons people get divorced. But is there really such a thing as financial infidelity? According to entrepreneur and business man Kevin O’Leary, “The biggest problem in marriage … is if one partner… Read more

Re: Payday lenders down 25% under new law (Calgary Herald)

There is no doubt that new rules have significantly changed the payday loan industry in Alberta. The changes have increased the importance of alternative options for short-term credit, such as products now offered by ATB and First Calgary Financial. However, it is incorrect to assume that the supply of credit provided by these options needs to meet the demand for short-term credit prior to the… Read more

MoneyFit Challenge

Do you want to learn more about financial topics like budgeting and saving, and be entered to win money for doing so? How does $30,000 in prizes sound? The MoneyFit Challenge is a new tool to improve your financial well-being, sponsored in part by the Financial Consumer Agency of Canada and the Economic Club of Canada. You can join this free program by registering at… Read more

The Basics of Using Credit

Amber Cannon is a Momentum volunteer and participant. Here she shares what she discovered about credit. Who, really, wants to talk about, let alone think about their credit? Certainly not I. But in today’s society, credit is a must have. On this session of my Savings Circles program I learned that credit can be unsecured or secured. Unsecured being: You do not have to offer… Read more

5 Questions to Ask Friends & Family Instead of “How Was Your Day?”

November is Financial Literacy Month. Instead of the usual “How was your day?”, I would invite you to ask your friends and family a bold and fun question about money to deepen your relationship. Some example questions to ask are: 1) If you won the lottery and money is no longer a concern, what would you invest your money on? This is an excellent question to… Read more

November is Financial Literacy Month

Financial Literacy Month (FLM) starts on November 1st.  It’s worth investing time and effort to improve your financial literacy, and FLM is the perfect time to do so! A great place to start is with your financial well-being. “Achieve financial well-being” is this week’s FLM sub-theme, and having a good understanding of money management is key to achieving financial well-being. People who are in control… Read more

How to Get Your Free Credit Report

A credit report is a detailed report of the last 6 years of a person’s credit history. Lenders use credit reports to determine if they will lend you money or not. A credit report sometimes called a disclosure or credit history. Check out sample reports: Equifax sample Transunion sample How can I see my credit report? Equifax and TransUnion are the two credit bureaus where… Read more

Enough for All Potluck

Some recipes are simple, like making toast. Some recipes are a bit more complicated, like making croissants. Others are inherently complex, like Enough for All, the city-wide, community-driven poverty reduction strategy guided by Vibrant Communities Calgary. Complex recipes do not follow a step-by-step process. In fact, Enough for All is less a recipe than a series of dishes that can create a banquet of potential… Read more

Getting Help to Pay Off Debt or Repair Your Credit

The Financial Consumer Agency of Canada ( FCAC ) has recently issued a consumer alert about being cautious if you are looking for a company to help you pay off your debt or repair your credit. If you are struggling with your debt, you need to remember: 1)      No company can guarantee they will solve your debt problems No one can solve your debt problem… Read more