Even the government has noticed there’s a problem with all the bank fees and has now mandated that all big banks offer a no-fee option, but only for consumers they see as “vulnerable” such as students, senior citizens and low-income Canadians. Although this is a good start, there’s still a long way to go. What’s more, the no fee option only includes up to 12 free debit transactions, which easily adds up quickly if you are active in using your card. Considering the average Canadian has record debt levels of $27,000, Mogo believes it’s time everyone had a free option without any limits on the number of transactions. This is the thinking behind Mogo’s Prepaid Visa Card; it’s free and you get unlimited monthly transactions. Considering the banks just came off a record 2013 and are continuing to report record profits, I’m not sure we’re going to see them move to unlimited free transactions anytime soon.
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Gifts are like compliments: Most of us are great at getting them but terrible at giving them. And if you’re shopping for someone of the opposite gender, it’s often just a struggle to know where to start. This time of year, it helps to be creative and cut to the quick. So—if you’re shopping for the man in your milieu, the dude in your district, the guy in your geographical area (your boyfriend or dad or male friend or whatever), may we suggest the following fun gifts under $25, and some even cheaper alternatives? Fund his future gift Lots of people got on board with this recent Kickstarter project to help fund the creation of a coffee maker that roasts, grinds, and brews your beans, all in one. Sure, you can’t buy it now, but you can donate to the cause on behalf of a caffeine loving dude in your life. Why not poke around for other projects to give to on his behalf? A short film? A new board game? A piece of proprietary tech? No matter what, it’s both a great present and an investment in his future happiness. See what I
Fun money is the best money. It’s the money that gets you onto the ski hill with friends, up close at your favorite concert or on a beach in the dead of winter. We’ve been sharing ideas about how happiness comes from experiences, not material items, and research shows that the more you focus away from money, the happier you’ll be. If you can avoid the sudden urges to purchase material items, you’ll be able to save your hard earned dough for fun experiences and be happier. [![Mike Tyson didn't really need 3 Royal Bengal Tigers. Now he's happy spending time with his family.](/content/images/2015/04/tumblr_m6kzw5xa3a1r8ppdzo1_400.jpg)](/content/images/2015/04/tumblr_m6kzw5xa3a1r8ppdzo1_400.jpg)Mike Tyson didn’t really need 3 Royal Bengal Tigers. Now he’s happy spending time with his family. But sometimes, there’s no money left after all the bills are paid. Money has this unique ability to vanish – literally. So, it’s important to keep your fun money separated from your bank account. Everyone loves knowing they have a little spending money set aside, which is why many of our cardholders are using their Mogo
Saving money can be expensive! Your paycheck is automatically deposited into your account, months come and go – and many of us don’t keep close tabs on what it does while it’s in there. It’s probably been years since you established your bank account and agreed to the terms and conditions. Do you eagerly read all the updates and emails that your bank sends you? If you’re like most of us, probably not. Here are some tips for spotting banking fees, getting them cut down, and getting the most out of them. Check the records Online banking is great for keeping track of your money – even when it’s been months since the transaction took place. Sort through your account debits to see which have been charged by your bank. With monthly fees ranging from $3 – $15.99 (or even more!), those expenses can really add up. Get rid of them! Now that you know how much you’re paying in banking fees, you know how much you want to get rid of. Call your bank to discuss the fees. There are plenty of free checking accounts out there, so to get your fees to $0, you
At the end of any given month, a few extra bucks always help out – so here is another quick tip from Mogo that will only use 10 minutes of your time to save you at least $10. We all know that staying home to watch the game can save big bucks over hitting the arena or sports bar, but here are 4 more ways to save $10 with your butt on the couch! Cook for the crew instead of ordering in Making a pot of chili or lighting up the BBQ is a great, cheap way to feed the fellas. Canned ingredients for chili or hot dogs are a great way to fill up on Sunday afternoons and are much easier on your wallet than calling your favorite delivery company. Get rid of the channels you don’t need So you feel like you have a million channels without anything on? Cut a few channels. I made sure to get extra channels on my cable package because I’m a big sports fan – but I was also able to cut a few that I don’t watch to make up for it. There’s no sense paying for what you