The Mogo Blog

#AskAnAdult: What’s your day rate?

How much money do you need to survive a day? Not sure? Financial Fitness Coach, Chantel Chapman, [https://twitter.com/ChantelChapman] has some tips and tricks to help you budget your money. This week on the Kastor & Pollux blog, [http://kastorandpollux.com/?p=3022] the adulting question comes from Alyssa Lau, [https://www.instagram.com/imalyssalau/] owner of super cool minimalist fashion-line, New Classics Studio. [https://www.instagram.com/shopnewclassics/] She asks: [https://www.instagram.

#AskAnAdult: Spending money to make money

This week on #AskAnAdult over at the Kastor & Pollux blog [http://kastorandpollux.com/?p=3022], Meghan Yuri Young [http://instagram.com/meghanyuriyoung] asks: [http://instagram.com/meghanyuriyoung] “As a freelancer, would it be in my best interest to hire an accountant or a financial advisor? Are they different?” Hey gurl, way to go for being a hustler! One of the biggest mistakes that self-employed people make is that they think they can do ALL the jobs and wear ALL the hats. Not always a kewt

Finance lingo explained: what does “full spectrum” mean?

You may have heard the term “full spectrum” before—or not, because no other financial brand in Canada is currently full spectrum other than us. The idea of being full spectrum is essentially about offering a range of products of services for customers with different needs. In financial services, this may mean having different types of savings accounts for people with different savings goals—or, maybe a range of interest rates for people from a wide range of credit backgrounds. Take Uber, for e

“How does Mogo determine my rate?”

So you signed up for a MogoAccount [https://www.mogo.ca/signup] and checked your rate. It didn’t hurt your credit score, you got to see your credit score, and you’re now a MogoMember, so congrats! Now that you know your rate, you’re probably wondering “How did Mogo come up with that?” Just like how other lenders can’t give away their secret sauce (it would make it too easy for unscrupulous fraudsters to game the system), we can’t share every detail of our algorithms. Here’s what we can tell you

Does checking my credit hurt my score?

Ever wonder if just checking up on your credit hurts your credit score? Well, depends on if it’s a hard check or a soft check. So what’s the difference between the two? Short answer: one immediately affects your credit score and the other doesn’t. Long answer: keep reading. Getting a soft check doesn’t lower your credit score. When your employer does a background check on you, for example, this is a soft check. When you pay Equifax Canada $23.95 to check your own credit, this is also a soft c