Tag: Interest

How Interest Only vs Principal and Interest Affects Your Cash Flow

Having an interest only loan versus a principal and interest loan can have a serious impact on your cashflow and can mean the difference between the property paying for itself or you needing to find money to keep that property of float. So in this episode we’re going to be on really basic and looking […]

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Should You Pay Off Your Credit Card in Full? – Credit Karma FAQ

Should you pay off your credit card balance in full every month? Short answer, yes. Long answer, also yes. Some people think that keeping a balance on your credit card from month to month will help your credit score, but it won’t. You’ll just end up paying more interest. You don’t need to have a […]

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Credit Union Benefits

Hello, and welcome to Your Money 2.0. I’m Thomas Fox, Community Outreach Director at Cambridge Credit Counseling. In our last episode we discussed the overall benefits of using a credit union versus a bank. If you recall, credit unions are founded on the Seven Cooperative Principles philosophy. These principles, which include open membership, democratic control, […]

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Different Types of Loans In Canada

There are seven common types of loans in Canada, Mortgage Loans Issued for big purchases like cars, houses, apartments, or business requirements Can be paid in five to twenty-five years Major banks offer mortgage loans Short-Term Loans Short-term loans are taken For purchasing products or services up to $10,000 Can be paid in 12 to […]

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Loans 101 (Loan Basics 1/3)

Meet Lucy. Lucy has been working at Corporate Co. for the past three years. Since her very first day on the job, Lucy has seen her colleagues refinance students loans (Zoe), purchase cars (Joan), and even buy houses (Emily). Lucy wants to be like them, there’s just one problem: all these activities require loans, and […]

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Complete a Loan Table with Compounded Interest and Payments

Suppose you borrow $4,000 at an 18% annual interest rate compounded monthly, which comes out to an interest rate of 1.5% each month. At the end of each month, you make a $150 payment. Use this information to complete the table below. Round to the nearest cent as needed. Looking at the table, we will […]

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Credit Hangover – MoneySmart Rookie

– Tiramisu. – Delicious. Best cake ever. I swear. Oh, my God. I gotta go. I didn’t realise how late it was. Are you gonna leave now? Yeah. Sorry. Can you fix up the bill? – Yep. OK. Sure. – Iíll get the next one. Bye. Alright. That’s fine. See ya. How would you like […]

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Review Of The Financial Reform Bill – The Baseline Scenario

immigration agree with you guys for you guys with james kwok james is the one of the writers of the baseline scenario he’s in my opinion will top experts in the field in financial industry in reform and regulation james thanks for joining us again we really appreciate it’s a predator and opens filled last […]

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Interest Rates vs. APRs Points

Let’s cover interest-rate verses APR’s and what points are. The interest rate determines what the lender charges you to borrow money. The APR or annual percentage rate is, to put it simply, the interest rate plus charges and expenses that make up a true cost of financing. Including points, origination fee, processing fees, interest, and […]

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Understanding Debt in 2 Minutes

Understanding debt in 2 minutes. Part one: Private debt. People and businesses take on private debt because they want to buy something today and pay for it in the future. For example, buying a home or factory with a loan gives people access to a property before they generate the income to pay for it, […]

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