The Mogo Blog

What is credit card fraud?

It’s not surprising that there's been a big shift to online shopping and a dramatic increase in the amount of digital transactions during the pandemic. Unfortunately, criminals don’t discriminate, even during these tough times, and there’s been a reported 23% increase of identity fraud since early March. The damage caused to your financial future from identity fraud can be huge and yet most of us aren't doing anything to protect ourselves. No, your credit card company doesn’t cover identity fr

How to become a millionaire

It takes the average millionaire 28 years of investing before they hit that 1 million dollar mark. The lesson is clear: consistent, long term investing is the surest path to success. But, what most people don’t realize is that even a small amount of money can get you there. Just $4 a day - that’s right, what we would spend on a latte- could turn into over $4M if you invested long enough. This is based on the average annual return of the market as measured by the S&P 500 of 10%. If you doubled th

Goal setting tips & tricks

Got big money goals like getting out of debt or retiring? That’s great! Did you know that research has shown that you’re more likely to achieve your bigger goals by breaking them into shorter term goals? For example, if your big goal is to pay off all of your debt in 5 years, your initial goal could be to simply pay $50 extra towards your debt by the end of the month. By breaking your big goal down into shorter term and more realistic goals that you can easily achieve, you’ll set yourself u