Emergency Fund

Caption: “Time Sale of HDTVs! – Thank Goodness for Emergency Funds”

What is your defenition of “emergency”??

This cartoon is on sale at My Store.

Why Interest Rates are Lowered

Usually it’s lowered to boost the economy so people are encouraged to borrow money (interest rate is low) and use it.

Who is happy when interest rate gets lowered?

  • debt holders (but credit card interest doesn’t get lowered usually…)
  • bond holders (because bond price has an inverse relationship with interest rate)
  • People getting or renewing a mortgage (because mortgage rates follow the benchmark rate)
  • People getting a loan

This cartoon is on sale at My Store.

Why Interest Rates are Raised

The real reason why interest rates are raised.

Last week, Bank of Canada hikes overnight rate for second time in two months.

This cartoon is available from my Store.

Buy Low, Sell High

Not Buy High, Sell Low…

This cartoon is available for purchase at My Store.

Job Interview and Credit Score

According to this huffington post article, credit check on job applicants are increasing in Canada (but being clamped down in US)

Other situations where you could become that deer in the headlight if you have bad credit:

  • applying for a loan/mortgage/credit card
  • applying for a rental (“Credit Check/References required”)
  • obtaining new cell phone/utilities (you might have to pay a deposit if you don’t have a credit history / or have a bad credit)

Keep your credit score good by regularly monitoring & taking steps to make it better.

You can get your credit report from major credit reporting agencies like Equifax & Transunion (in Canada & US).

Above cartoon is available for sale here (under different licensing options.)