According to the Equifax credit bureau, the average Canadian credit score is 700. However, credit scores in Canada vary based on scoring models used by the credit bureaus.   According to the Borrowell database, the average Canadian credit score in 2022 was 672 and 667 in 2021. A credit score helps determine your creditworthiness, and if you are wondering how you compare to the average credit score in Canada by age, scroll through this post to find out. Average Credit Score By Age in Canada The table below highlights the average Canadian credit score by age per the Equifax ..read more

A side hustle is any type of job or business that you undertake in addition to your primary source of income, often done outside of regular working hours. Side hustles range from part-time jobs and freelance gigs to small businesses or entrepreneurial ventures. The purpose of a side hustle is typically to earn extra money, pursue a passion, gain new skills, or explore alternative career paths while maintaining stability from a main job or source of income. Side hustles offer flexibility and autonomy, allowing individuals to diversify their income streams and pursue opportunities beyond traditi ..read more

Are you wondering what the Canada FED deposit in your bank account is and why you received it?  Canada FED is a Canada Revenue Agency (CRA) payment.  If you recently received a Canada FED deposit, then you were found to be eligible for a tax credit after CRA assessed your taxes, or you applied for a benefit claim.  What is Canada Fed deposit in my bank account? Canada Fed is one of many transactions codes the Canadian federal government uses to deposit money into your account for various benefits like: Canada Child Benefit (CCB) Child Disability Benefit (CDB) Goods and Services ..read more

Are you wondering what the Canada RIT deposit in your online banking/bank statement is and why you received it?  Canada RIT is a Canada Revenue Agency (CRA) payment. Canada RIT acronym stands for “Refund Income Tax.” If you recently received a Canada RIT deposit, then you were found to be eligible for a tax refund after CRA assessed your taxes.  Canada RIT is not free money. What it means is that you paid more taxes than usual.  What does Canada RIT/RIF mean on my bank statement? The income tax refund from CRA shows up as Canada RIT/RIF on your bank statement and direct deposit ..read more

In Canada, if your credit score falls between 660 and 724, that’s seen as pretty good. If it’s between 725 and 759, it’s even better, and anything 760 or higher is top-notch. But if your score is between 300 and 559, that’s not so great. The post What is a Good Credit Score in Canada? appeared first on Opinion Realm ..read more

According to the Equifax credit bureau, the average Canadian credit score is 700. However, credit scores in Canada vary based on scoring models used by the credit bureaus.  According to the Borrowell database, the average Canadian credit score in 2022 was 672 and 667 in 2021.A credit score helps determine your creditworthiness, and if you are ..read more

In today's dynamic and evolving work landscape, many Canadians embrace side hustles to diversify their income, pursue their passions, and explore entrepreneurial opportunities.A side hustle, often taken on alongside a primary job, offers individuals the freedom to earn extra money, develop new skills, and create their path to financial success. With the rise of the gig ..read more

The cost of living has been rising in Canada due to inflation. Groceries have become roughly 5-7% pricier than last year. Unfortunately, this does not equate to a corresponding salary rise, leaving many to feel the financial pinch.Recently, Bill C-46, the Cost of Living Act, became law on May 11, 2023, introducing a one-time Grocery Rebate ..read more

Everyone wants to get rich and enjoy the financial freedom that comes with it. But only some take the necessary steps to make it happen.For some people getting rich is the accumulation of wealth that makes them live a lavish lifestyle. For others, being rich means having enough money saved up so that one’s living expenses ..read more

If you are wondering what is a good credit score in Canada and want to know how you measure up, it depends on the credit bureau model used. Each credit model has different parameters for deciding a good or excellent credit score.According to the Equifax credit bureau, a good credit score is usually between 660 and ..read more