The Mogo Blog

The Average Canadian Family’s Debt is $100K

As reported by the Globe and Mail [http://www.theglobeandmail.com/], the debt load of the average Canadian family has hit $100,000. This is a crazy statistic – as rising housing, debt and mortgage costs are pricing Canadians out of the market, and stacking debt up against them. The Vanier Institute of the Family report also reports the debt-to-income ratio in Canadian home is currently sitting at a record high: 150%. That debt-to-income ratio number means for every $100 earned (after tax), fami

Boxing Day Blowouts – Keep Your Wallet in Check

December is the season to give gifts and share time with your loved ones, but lets be honest – after Christmas there are a ton of deals to be had and you can get what you really wanted. Boxing Day sales have become a highlight of the shopping calendar – and it’s your job to make sure that while you’re out there getting deals, you’re not actually setting yourself back more than you wanted to. Set the Budget Did you get a department store gift card, a bit of cash from your aunt, or some store c

Thanksgiving Travel Tips

October is here and that means Thanksgiving is just around the corner. As sure as the leaves are turning and our country is getting closer to winter (first frost!? Are you kidding?), we’ll soon be heading back to family dinners and too many mashed potatoes. We already told you how to save some cash on holiday cooking for Thanksgiving, now it’s time to dial in the other half of Thanks-savings: travel. Seeing your family and friends in other cities is important during the holidays, but travel ca

Long Weekend Getaway Savings Tips (Part 1)!

There are few things in life as happy and satisfying as taking a well-earned vacation. Long weekend vacations are one of the best ways to maximize fun and minimize expenses. Use these five tips to make your long weekend vacation stress free and affordable. 1. Use a single vacation day for uber long weekends – Did you notice Canada falls on a Thursday this year? If you used just 1 vacation day you end up with 4 days off in a row, which is a good chunk of R&R! Watch the calendar and look for ways