The Mogo Blog

In the News: Mogo Founder and CEO on Huffington Post Canada

With a record $28 billion in profit last year alone, big banks are continuing to profit while the average Canadian suffers the burden. We think there’s a better way and are working hard to bring you products that are alternatives to traditional banking. But we can’t disrupt this massive and entrenched industry on our own. We need startups attacking the problem from all angles. Our CEO David Feller is featured over on Huffington Post Canada today talking about the huge opportunity we have to cha

Best Online Helpers For Cool Summer Travel Savings

We’ve talked about hitting the road this summer, and here are some helpful sites, apps and products that are fun to use – and can save you a few bucks along the way. Leverage the power of the internet, and it’s community of savers, to find out the best places to buy, fill up, visit or snap shots. Have a tip that isn’t on our list? Hit us up on Facebook [http://www.facebook.com/mogomoney] or Twitter [http://twitter.com/#!/mogomoney] to share with our followers. Onto the list! BillShrink.com [

How to Deal With Sunk Costs & Be A Better Spender!

OK – it’s time to get psychological here, and no, there won’t be a test! We’re going to talk about the effects ‘sunk costs’ can have on your finances. A sunk cost is money that you’ve put towards something you can’t get back. Whether it’s a non-refundable purchase (sale items), a phone or a deposit on a vacation rental, it’s spent money – regardless of what you do afterwards. Sunk costs can get dangerous when you need to spend more just to get value out of what you’ve already spent. For exampl

4 Crazy Ways to Stop Credit Card Debt Before it Starts

Credit Card Problems? We’ve all been there – trust me. But here are some (possibly insane) ways to stop the pain of credit card over-spending. Credit cards can be easy to get, and that’s part of the problem. Cash (that you don’t actually have) is easy to access and spend, which can cause a mountain of debt to deal with. When this happens, it’s time to sort out your credit card habits. Here are some ways to stop the over-spending pain before it even starts. While all of them might not be for yo

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