One Simple Trick to Manage Your Holiday Debt

New Year’s resolutions should be about fun stuff, not your debt In our corner of the fintech world, January 1st is an important day. Why? (Yes, it’s New Years Day, but that’s not it.) Because on January 1st, once ye olde hangover has dissipated, people realize that it’s time to face the music. And by music, we mean debt. On January 1st, the holidays are officially over, and it’s time to reckon with our wily pre-Christmas spending habits. This shift in attitude is measurable: last year, the increase in search terms like “debt consolidation” peaked in Canada between December 29 and January 4th. And let’s face it: if over the holidays we spend irresponsibly, when the new year and our new debt rolls around, we have no one to blame but ourselves. But if you ask us, it doesn’t have to be this way. The Holidays Are Designed to Make Us Spend MoreIf this has been (or will be) you, know you’re not alone and if we’re honest, the deck is stacked against us. Every year, as we set about our holiday shopping, we’re liable to get good at magical

What is bitcoin?

It’s now been a decade since bitcoin (BTC) first made headlines as this decade’s best get-rich-quick scheme, and since, it has become a mainstay in global financial markets—but for the uninitiated, it might still seem impossible to comprehend. To the “I buried my savings in the yard” crowd: this one’s for you. What is cryptocurrency? In the journey toward understanding bitcoin and how it can earn you money, cryptocurrency—or crypto, we’re hip—is the first word you need to know. Crypto is an umbrella term for the thousands of digital currencies like bitcoin currently trading in global markets, totally online. Cryptocurrency is what it sounds like: it’s a digital currency created and regulated by strong cryptography (hence, crypto-currency. Still with us so far?). Crypto is special because it’s a digital currency which is decentralized—as in, opposite to the way banks work. When you put money into your bank account, those zeros and ones are slotted into systems that are controlled by your bank, and these are backed by the government. Crypto exists outside of those frameworks. Instead of being regulated by a powerful few, crypto is managed and recorded in public

What is Dollar Cost Averaging?

They say 'what goes up, must come down', but “down” doesn’t have to mean crashing into the dirt. Screw you, Isaac Newton!!! (Actually, Isaac Newton made some great points with gravity and we appreciate science very much. We take it back. Sorry.) This just highlights the importance of having the right strategy if you’re going to put money into a speculative asset class like bitcoin.1 So, we’re here today to teach you about a fun ‘lil term. DCA is an investment strategy based on dividing the total amount of money to be invested over a period of time, as opposed to just buyin’ it all at once. Some people do this as this can help reduce the impact of volatility on overall purchases. It also helps to avoid buying something at a really high price and then it falls. 📉 So, it’s the act of spreading your money out to buy at different prices, both high and low, because you have a belief in the long term prospect of the asset! Much like that Smash Mouth song….you’re a believer. Example time! Let’s take an asset like stocks or bitcoin. Instead of investing all