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

St. Patrick’s Day is Coming: Save Some Green

Whether you’re going to celebrate with green oatmeal, green beer or green salad, you’ve definitely got a chance to save some cash this St. Patrick’s Day – or any day of the year. If you’re anything like me, St. Patrick’s Day is a good excuse to meet up with a few friends for a few pints*. This can definitely be an expensive exercise if you don’t do a bit of pre-planning. Here’s a few tips to cut down on those expenses while still having a good time out: Have a Budget I know when I go out, my

Save $100 in 10 Minutes: Your First Trip to the Bank

If you’ve got some little spenders running around the house, it might be time to start teaching them a little about saving and responsibility with cash. A little work while they’re young can go a long way towards encouraging solid spending habits and a lifetime of benefits. When you ask around with your friends about when they started having their own bank account, you can bet that those who are better with their cash now, had a good early start. Getting the jump on personal finances can start

Spring Break Planning for Families: Teaching your kids to budget

With spring break just around the corner, I’m sure the kids are already asking, “Where are we going?!?”, “Are we headed to DisneyLand?!?!”. Even if you’re not on your way to The Happiest Place on Earth, you can still have a great time with your kids, and use this as a learning/saving opportunity for the whole family. Now you can tell them, you’ve got something great planned, and you need their help. Whether you’re setting a big goal, or a small one, everyone in the family will be able to pitch

Spring Break on a Budget: A Student’s Guide

Here it comes. That one glorious week in second semester that’s for catching up on your studies, cleaning your dorm room and calling your parents to report on your straight As… Ok – I think the parents stopped reading. Spring break is a great time to relax and potentially take a trip with some friends. Common destinations like beaches in California, Florida or Mexico dominate the spring break ideals, but you can see there are a lot of options for fun during your spring break from university. S