Mogo has recently been featured on Golden Girl Finance, showing how our products will help you #UnCreditCardYourLife.
Here are a few highlights from the Golden Girl Finances article:
Problem, what problem?
The problem is that we’re just too nice.
When we met up with our dear friends for a holiday lunch, we naturally chose the pricier bottle of wine because they’re worth it, right?
Our generosity (unlike our monthly income) knows no bounds. Unfortunately, our largesse leads us into spending decisions that are not healthy for us at all. Indeed, the road to debt and bad credit is paved with good intentions.
Be it resolved- uncreditcard your life
1. Prepay our plastic
This is a healthy habit that we will use to replace our old bad habit of overspending on credit. The MogoCard is kind of like an “uncredit card”.* It gives us the perks of a traditional Visa® credit card so we can still shop online and benefit from the security of Visa Zero Liability Protection on our purchases. The difference is, with a prepaid limit, our spending is held in check, no matter how tempting a purchase may look in the moment. And that leads us to the very best part – no borrowing on credit means no nasty interest charges. *
2. Stop paying unnecessary fees
We can think of enough fun stuff to spend on our money on, thankyouverymuch, we don’t need to diminish our purchasing power with annoying fees too. This is why we love the MogoCard: it’s free to set up and has no monthly fees.You are spending your own money, so it has the benefits of debit without those pesky bank transaction fees. It’s free to load the card up with cash and we get our balance updates texted to us, completely gratis.* *Now doesn’t that sound civilized?
3. Reign in our debt
New habits are important, but we also have to deal with our current mountain of old credit card debt, on which we are paying annual interest rates of up to 20%. Daunting, right? We could start by moving that debt over to a MogoLiquid loan. By consolidating our debt to a rate as low as 5.9%, we can pay this off much faster and get out of the red and back to sexy black. (Not that we don’t look good in red, we do, which is also a huge part of the problem.)
Uncreditcard your life
We’ve seen prepaid cards before, but we love the idea of a prepaid Visa® card like the MogoCard because it looks and acts just like a regular Visa credit card, while helping us get way more control over our spending.
Plus, the Pinterest-worthy card designs make us still feel trendy while acting thrifty.
Of course, no piece of plastic can do the hard work for us. Changing behavior and breaking bad habits takes time, commitment and sometimes, nerves of steel. But with the help of our New Year’s Resolutions, new, healthy habits to replace the bad ones and a tool like Mogo to help us out, we believe 2015 is the year we will successfully reinvent our financial lives. Don’t worry; we’ll still be nice, we’ll just be… wealthier and nice!
Be a trendsetter
Come join us and make our New Year’s Resolutions yours too by visiting mogo.ca and connecting with #uncreditcardyourlife.
We wish you a prosperous New Year, filled with the kind of riches that are free of interest charges!