LoanAway Blog

Need a plan to retire comfortably ? Yeah, everyone does. The plan does not have to be complicated to be successful. Don’t believe us? Alright, Loan Away has searched for the perfect article that will break down retirement saving into 3 simple steps that anyone can follow. Our source, CNN money, has written a great article for those who are planning to improve or begin saving their money for retirement. We sourced the article so you, our client, can follow along with our thoughts about how to retire properly in Canada. You may have to try to improve your credit score history to have more options in the future. The last thing someone would want is to be limited to options when they are retired. That is why we recommend you read our article about improving your credit to ensure you have a simple and stress-free retirement. We work to retire, so you should plan your retirement from now.     A 3-step plan to a secure retirement My husband and I are in our...

Canadian consumers are just overspending. Some chose to blame the Bank of Canada or Lenders, but the majority of Canadians agree that this happened because of consumers. What is the solution? There isn’t just one, there are several options. Picking the right one is vital for the economy of Canada. The best option is difficult, having consumers spend less to be in less debt . The Bank of Canada has increased interest rates twice in 2017 to have consumers spend less. Based on this information, a recession might happen this year. This is definitely bad time since Ontario just increased the minimum wage. 33% of Canadians cannot cover monthly expenses according to MNP debt survey. 48% say they’re within $200 of not being able to pay bills. 42% are in trouble if interest rates rise. Based on the two raise in 2017, we should expect another one in 2018. How will Canadians cope? One in three Canadians can’t cover bills amid ‘debt trap’: Survey 33% of Canadians can’t cover their bill...

If you went to post-secondary , why did you pick the school you went to? Distance? Program? Prestige? Only one accepted you? Did you even consider cost? No? Well, don’t worry, most don’t consider the cost either. But the question is why doesn’t cost matter when we are making a decision? No one is sure. Asking employees at Loan Away why they did not consider the cost when picking post-secondary school here is what Jan said: “I went to Youk University because it was closest to me”. Micheal said “Well, I knew I was going into debt, so why not go to the best school? I rather have $5,000 more in debt to go to a predigest school.” Majority of the answers were similar to these two answers, however, we ask Manpreet and she said “I chose the best my school because they had the best value. The program was good, the distance was decent, and the price was the cheapest”. At least someone cares about the price.     The top reason why graduate students choose their scho...

It almost seems impossible to put “high paying job” and “no student debt” in the same sentence right? Well, it’s not impossible. Majority of blue-collar jobs require no post-secondary school. The ones that do require post-secondary are for 1-2 years and often lead to high paying apprenticeship. So, little to no student debt and high demand? Sounds great, but why aren’t people joining blue-collar jobs? Because it is physical labour. Some people cannot handle doing physical labour and some just chose they do not want to  (Like myself). This is exactly why these jobs are in demand. The more in demand and lack of supply, the higher you pay will be. Loan Away has sourced blue-collar employees in the state of Oregan, who are excited to inspire young adults to join the physical labour industry.   The lure of the trades: No school debt PORTLAND, Ore. — Oregon’s Office of Economic Analysis issued a new report pointing out teachers and construction wo...

A credit card that is made for the entitled generation ? Seems like a risk right? Well, it is exactly that, but the market says otherwise. Petal was able to raise $13 million and have over 40,000 supporters on their side already. What makes this company different is they are focusing on young adults. The credit card will have no fees, credit limit of $10,000, and an APR as low as 13%. Not bad at all. Petal is almost as tempting as debt consolidation if you have bad credit . Petal is partnered with visa to ensure that clients can use the credit card virtually anywhere that accepts visa. Petal also is aware that millennials tend to have a low credit score than the average person, therefore, petal does not check your credit score to be approved. An impressive business concept, but only time will tell if this new company will be able to succeed. Our article source, Forbes, is cited below for your convenience.   Petal Raises $13 Million To Give Starter Credit Card...

Canadians mostly invest in mutual funds , so won’t it be beneficial if Canadians knew the myths about their investment? Loan Away definitely thinks Canadians should be aware how everything about the mutual funds they invest in. This is the reason we have searched the internet for the best resource to explain exactly that for your clients. We also provide personal loans for everyone, including those with bad credit . We want to make sure that Canadians can make an informed decision instead of listening just to their financial advisor’s advice. Should we know everything before investing? If you believe so, the source money control has written an amazing article about all of the myths associated with mutual funds. Know the common myths related to mutual fund investing Over the years, investing in mutual funds has emerged as a popular option among a vast population of investors with varied incomes and risk appetites as mutual funds have outperformed m...

Don’t know where to start with your student debt ? It alright, most do not know either. That’s where Loan Away comes to help you! We had our team search for the best student debt templates available on the internet. We came across hundreds of templates that all looked promising, but we could only choose one. Instead of just picking one, we had our team use the best templates for their student debt. We have decided that the template by Andrew Josuweit was the best overall. It was not the most technical or attractive, but it gets the job done. Business Insiders have interviewed him this week, so we have included the entire article below. If you need a simple and quick solution, debt consolidation is the most popular personal loan option . The link to download the template is in the original article below. I paid off $107000 in  student loans with a simple spreadsheet anyone can use Like any business owner, I had revenues, expenses, and taxes. I used a simple spreadshee...