Personal finance is important. We all strive towards this and struggle with this in equal measure. No one likes to be in debt, let’s face it-its not a great feeling, as debt can affect finances and personal relationships. It is not unusual in this day and age to have a mixture of store cards, credit cards as well as loan repayments.
Canadian personal finance affects you directly. We all aim to save money for a rainy day, but sometimes it is not so easy. It is important to have a handle on your finances. Every month you should consider drawing up a personal income-expenditure form. Write down monies coming in, and monies going out. By doing so, you will see how much money is left over at the end of the month. And with the leftover money, why not put it in a savings account? I know this is easier said than done.
When it comes to credit cards, we all have them. Usually more than one. Most times more than three. Before applying for a Canadian credit card, you should shop around and consider the following:
- Balance Transfers
- Cash Back
- Low Interest
- Instant Approval
- Airline Credit Cards-where you can accumulate points or miles or both.
There are lots of credit cards out there. Alternatively, you can choose a Canadian prepaid credit card. This might be a better option if you trying to budget yourself and save pennies. For example, Scotiabank pre paid credit card, allows you to spend money you load on it. It also helps you keep track of your spending. What could be better than that? Also, MasterCard has a pre paid credit card as well, you can use it everywhere and in fact, it is Canada’s lowest prepaid reloadable credit card.
When it comes to the Best Canadian credit card for travel, there are various options. Take a look at Rewards Canada-on their website, they have over 80 travel credit cards in which to choose from. You will find five major categories which will help you decide which ones are best for you. They include:
- Travel Points
- Cards with annual fees
- Cards without annual fees (this is a good option if you are trying to budget and save money)
- Hybrid credit cards
- Airline credit cart
- Hotel credit cards
Not sure where to start?
TD Aeroplane Visa Infinite credit card is popular among Canadians. Why not check out their terms and conditions?
In closing, personal finance can be a quagmire, but it doesn’t have to be. First, set financial objectives for yourself. What is it you want to do? Do you want to pay off your bills? Pay off your credit cards and loans? Set money aside for a rainy day or even a holiday cruise? All of the above are possible. It just takes a little time and effort. You can do it, as so many have before you. Take the time to sort out your finances. Get a handle on them. Know where your money is going and to whom it is going to. Personal savings and personal finance is attainable. Arm yourself with knowledge and you can’t go wrong. There is plenty of knowledge here to get you started. Go!