Spot scams to promote financial health

By GetSmarterAboutMoney.ca

From the author: More Canadians said they’re being targeted for their financial information through phishing or hacking compared to last year. That’s according to the Financial Consumer Agency of Canada’s dashboard on Canadians’ financial well-being. It’s more important than ever to know how to avoid phishing scams and protect your private information.

If you’re getting texts from seemingly legitimate sources asking you for personal information, it could be a phishing attempt. Phishing scams are increasingly common. Protect yourself by learning how to spot phishing attempts and other variations of this scam.

Strategies to pay down debt

By GetSmarterAboutMoney.ca

From the article: Debt can be a useful financial tool. Loans can help you buy a car or a home. And if you use credit cards, you can sometimes collect other benefits like travel miles or points you can spend. However, too much debt can make it difficult to save money and limit your financial options now and in the future.

Any money you’re putting toward monthly debt repayments isn’t going toward your savings. The sooner you pay off your debts, the sooner you can put your money into savings or an investment that will earn you interest.