Back to learn
A guide to debt consolidation
Rounding it up
So you have some debt; maybe a lot of it. The simplest way to manage it is debt consolidation so you have one loan with a single monthly payment.
It’d make your life a lot easier, and you’d be less likely to pay something late because you lost track of it. It can also reduce your overall cost of borrowing.
There are many ways to consolidate debt, but most people end up either bundling their debt into an existing mortgage or taking out a personal loan.
If debt consolidation isn’t an option for you, consider speaking with a non-profit credit counsellor to devise a repayment strategy.
Recent Articles
Upcoming trip? Here's why you should use a prepaid Visa card for travel purchases
Do I need renter's insurance in Canada?
How much should Canadians save for retirement?
What is value added tax? Is there VAT in Canada?
Is it more expensive to live in Canada or the US?
Should I keep accounts at multiple banks?
Related articles
How can I buy a house with no down payment in Canada?
6 mins
Dan BuchererZero down payment mortgages sound too good to be true because they often are. Learn why this option may be more trouble than they’re worth.
How can I buy a house with no down payment in Canada?
6 mins
Dan Bucherer
Zero down payment mortgages sound too good to be true because they often are. Learn why this option may be more trouble than they’re worth.
#mortgage
#down payment
#home ownership
#loan
Can new immigrants buy a house in Canada?
9 mins
Gaby PilsonNewcomers can buy a home in Canada, but you need to meet a few requirements first. Here’s what you need to know to secure those keys.
Can new immigrants buy a house in Canada?
9 mins
Gaby Pilson
Newcomers can buy a home in Canada, but you need to meet a few requirements first. Here’s what you need to know to secure those keys.
#home ownership
#mortgage
#newcomer
#home
Should I pay off my mortgage early?
7 mins
Gaby PilsonIf you have a mortgage and spare cash, you might have considered paying off your loan early. Review the pros and cons before you decide.
Should I pay off my mortgage early?
7 mins
Gaby Pilson
If you have a mortgage and spare cash, you might have considered paying off your loan early. Review the pros and cons before you decide.
#mortgage
#loan
#home ownership
What is an accelerated mortgage payment?
4 mins
Dan BuchererAre the benefits of an accelerated mortgage payment worth the hassle and extra fees? It really depends on your mortgage.
What is an accelerated mortgage payment?
4 mins
Dan Bucherer
Are the benefits of an accelerated mortgage payment worth the hassle and extra fees? It really depends on your mortgage.
#mortgage
#accelerated mortgage payment
#loan
#home ownership
How much money do you need to start a retirement account?
4 mins
Jordan T. HedbergIt’s important to avoid getting caught up in the pool of retirement savings advice. Instead, start by saving up and paying off debt.
How much money do you need to start a retirement account?
4 mins
Jordan T. Hedberg
It’s important to avoid getting caught up in the pool of retirement savings advice. Instead, start by saving up and paying off debt.
#retirement
#savings
#RRSP
#debt
Mortgage vs home equity loan: Differences and similarities
5 mins
Dan BuchererCalling all current and future homeowners: Do you know the differences between mortgages and home equity loans? Learn all about them here.
Mortgage vs home equity loan: Differences and similarities
5 mins
Dan Bucherer
Calling all current and future homeowners: Do you know the differences between mortgages and home equity loans? Learn all about them here.
#mortgage
#home equity loan
#loan
#home ownership