A Simple Guide for Understanding Credit Score

If you are thinking about getting loans of any sort, you will be asked about your credit score. Right now, your credit score is one of the most important footprints of your financial conditions. Your credit score allows you to buy new vehicles, get approval for mortgages, and make purchases through credit cards.

If you have a higher credit score, the chances of accessing more financial opportunities at a better rate become higher. Bad credit car loans require a higher interest and often demand more securities and collateral from you.

Bad Credit Car Loans

To make sure that your financial transactions go on without even a single hitch, you have to understand your credit scores first. In the following section of this article, we have talked about the tricks for building your credit scores in the long run.

What Is The Credit Score Range in Canada?

In Canada, your credit score is a three-digit number that lies between 300 and 900. This number represents your credit risks. The term credit risk indicates the chances of your paying the bills or the EMIs of the loan on time.

As one can easily imagine, a credit score of 300 is considered very poor, and a credit score of 900 is considered excellent. Most of the Canadians belong to an average credit score of 650 points. People who have a credit score below 650 often are compelled to take bad credit car loans.

How to Secure a Credit Report in Canada?

A credit report is the credit history of a borrower. It depicts the past, as well as active, loans, payment patterns and history. It indicates your credit limits, and how much the financial institutions owe from you. Your past credit activity impacts your credit score.

There are two different credit bureaus in Canada. Once every year, you can request a credit score from them for free. To get an instant credit score from these bureaus, you have to pay a charge.

What does Your Credit score indicate?

Once you receive the credit report, you have to interpret your credit score to gauge your creditworthiness. We have broken down the 300 to 900 credit score range into the following four categories.

Poor Credit

If you have this type of credit score, most of the financial institutions will refuse to lend you a loan. People whose credit score falls in this category, often get bad credit car loans.

Average Credit

The average rate of credit score in Canada is around 650. Even though people who fall in this category do not have a great credit score, it is also not considered as terrible. If you have this credit score, you will have more credit opportunities.

Bad Credit Car Loans

Good Credit

A credit score that falls from 660 to 724 is considered a good credit score. Lenders would typically view these customers as low-risk borrowers. They would likely get loans with better rates of interest.

Excellent Credit

People with credit scores of more than 760 fall in this category. They often get the best loan terms. People of this category show that they have exceptional credit behaviour and are extremely responsible potential lenders.

Now that you know the nitty-gritty of the credit score in Canada, you can work to make it better. If you have a good credit score, you will never have to settle for bad credit car loans. A good credit score will always offer more credit options and enable you to get loans at the best rate.

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A Simple Guide to make your Kids Learn about Finance

Ask any parents, and they will tell you how much time they spend to make their kids financially literate. The kids must start learning about money from a very young age to value it when they grow up. The teachings about the personal finance that you offer your kids in their childhood remain with them till their last breath.

That is one of the reasons why the financial advisors think that it is a good habit to give your children a debit card for kids while they are not that old. The card helps them to understand the nooks and corners of the digital transactions and makes them aware of the threats of the transaction from a very early age.

Debit Card For Kids

Saying that, there are still some parents out there who cannot figure out how they should introduce their kids with the financial world. This guide is for those parents. Keep on reading the following tips to know how you can make your kids financially literate without any hassles.

Where to begin

While it must be very tempting to start lecturing your kids about the finances the minute you get any chance, it would not be the best method of dealing with this issue. Before teaching your kids about any financial problem, you should make sure that they have a firm grip on the basic Maths skill. Your kids should be comfortable with dealing with numbers to handle the cash while purchasing something from the market.

While most of the parents try to start the teachings right from the savings, more often than not, it does not interest them. To make sure that your kids are learning the basic skills, you should give them small amounts of cash and let them handle it themselves.

Once you are sure that your child has become an expert in handling cash, you can easily get him or her a debit card for kids to understand the concept of accounting and money management.

Introduce the topics Gradually

One of the biggest mistakes that almost every parent makes about financial teaching is, they want their kids to know everything about the finances all at once. It does not work in that way. If you try to make your child learn all the details about finances at once, your child will get bored and confused.

Take things slow if you really want to teach your kids about finances. You should introduce one topic at a time and make sure that your kid has mastered it before moving on to the next.

Debit Card For Kids

Let them handle The Card

Once you are fairly sure that your child understands the value of money and can complete transactions on their own, you should get them a debit card. Even though there is no age limit for getting such cards for your child, 10 years -12 years of age is the perfect time for handing the card over.

Keep an eye on the spending habits of your kids and give them advice whenever it is necessary. It is the best way to make your children learn about finances fast.

So, from the above tips, you must have gathered the best methods of teaching your kids about finances. You can take the help of the debit card for kids to make them understand the nitty-gritty of finances faster, but before that make sure they understand the basics of handling money.

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The contrast between a card limit a loan limit and a day by day limit on Visa

cash advance Canada

In spite of the fact that this isn’t generally valid, most Visas have three distinct kinds of cutoff points. These are a credit limit (at times called a card limit), a loan limit, and an every day limit.

A credit point of confinement is the most elevated sum the Visa’s parity is permitted to reach and basically the biggest sum a Visa client may get. On the off chance that the equalization surpasses as far as possible and the charge card is introduced for another buy, at that point the exchange is probably going to be won’t. In the event that the exchange is acknowledged, there will quite often be punishments charged. With certain banks, Visa holders can demand the overdraft office be expelled from their records, and afterward if an exchange would push the parity over as far as possible, the exchange will be cannot.

As far as possible is the most extreme measure of cash advance Canada that might be progressed against a charge card’s parity. With most Mastercards this will be extensively lower than as far as possible itself. As far as possible is normally communicated as an extent of as far as possible thus will change after some time.

cash advance Canada

Note that loans don’t simply incorporate pulling back cash advance Canada through an ATM or EFTPOS buy. It additionally incorporates utilizing the card to purchase remote money and for some unsafe exchanges, for example, betting.

At long last, the every day point of confinement is the most extreme sum that can be charged every day to a Mastercard. This can likewise be extensively lower than as far as possible and is planned as an enemy of misrepresentation measure. On the off chance that a card is stolen, the cheats can just charge a specific add up to the card every day, and just until the burglary is seen and announced, along these lines diminishing the general misfortune to the bank.

Day by day cutoff points aren’t modified into each card, and they’re less basic than they used to be because of the execution of other enemy of extortion measures.

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The Full Manual For The Sorts Of Business Land Advances In Canada

Today, business land for commercial mortgage broker Toronto is at a record-breaking high – not actually my words, yet very rich person sam Zell’s in a meeting with Foxx business.

I don’t think about you, yet I think this is an industry that contains the most rewarding venture bargains, which maybe clarifies why money related foundations have been enthused about the division. What’s more, in this article, we take a gander at precisely that!

We’ll talk about the sorts of business land credits in Canada, the various kinds of business land advance terms, and that’s only the tip of the iceberg.

commercial mortgage broker Toronto

What is business land credit?

These are business home loan credits or commercial mortgage broker Toronto that have been taken out on business land and are utilized as insurance. Borrowers of business land advances are normally corporates and organizations and not people.

Money related foundations in this space altogether examine the borrowers for credit reasonableness and the rates are typically higher than private property advances.

Sorts of business properties

Different land properties can be named business property – even private land properties can now and then be sorted as business properties if such properties were bought for venture purposes.

Business properties are essentially characterized into three:

  • pure private (1 – 4 units)
  • pure private (5 or more units)
  • residential business blend

These are simple yet a couple of properties that fall under the business classification; there are various others that can likewise be delegated business.

Regarding contract endorsement, business ones take longer when contrasted with the private ones; a run of the mill business credit could take a normal of 60 days to a year.

Property inhabitance

A property can either be involved by the proprietor or by autonomous inhabitants/financial specialists.

At the point when a property is named a proprietor involved one, it implies that the proprietor is utilizing just the property for his own utilization. In any case, this does not imply that a property is certainly not a business one; on the off chance that it is demonstrated that it creates 51% of its pay from the business directed by the involving proprietor, at that point, it consequently qualifies it as a business property.

On the off chance that it doesn’t meet the above edge, at that point it is considered not to be a business property but rather a proprietor involved property.

The distinction here comes in because of the salary creating a level with 51% qualifying a structure as a business while anything less makes it a proprietor involved property.

For properties that draw in some type of lease as an end-result of inhabitance, a larger part of the property is constantly used by occupants as the drivers of the property’s income.

There are likewise venture properties known as fix-and-flip; these properties are purchased in what is considered ‘a poor state’ and repaired, and after that sold for a benefit.

Kinds of business land credits

Most budgetary organizations offer seven unique sorts of business land advances; we will attempt to clarify each in the least complex terms conceivable to have the option to plainly comprehend what is probably going to work for you.

  1. Purchasing: simply like the name recommends a buy advance is one that enables the holder to buy business property utilizing acquired assets. The bought property is utilized to create salary seeing as it falls under the business umbrella of properties.
  2. Cash-out: this sort of business property financing or renegotiating includes taking out a past home loan and satisfying the value of the property, or it can just involve getting the money for out the value of a property without a home loan.
  3. Refinancing: renegotiating included a by and large purchase out of an advance having a place with one budgetary organization with another for reasons, for example, better loan costs, longer reimbursement terms, in addition to other things.
  4. Bridge: a scaffold advance is a momentary advance that is either used to altogether back a business land property or utilized before a long haul financing choice happens. A scaffold credit can be utilized to remodel a property, improve the condition, or direct excavator completions to a property.
  5. Construction: this advance is utilized by business property proprietors or wannabe business speculators to improve their organizations, build a property, or create it for absolutely theoretical purposes.
  6. Fix-and-flip: this method of business land financing is utilized by little and huge speculators to create properties that are later on sold at a benefit. This office is like the extension credit in that it covers the deficiency caused between the ideal opportunity for hanging tight for longer-term financing.
  7. Hard-cash: these are advances that are related to progressively settled gets in the land segment. Such credits are issued without essentially experiencing all the formality associated with securing comparable advances

commercial mortgage broker Toronto

To what extent would you be able to back business land?

This is one region that business credits contrast from their private partners like commercial mortgage broker Toronto; the financing time frame extends between five to 20 years and they regularly have longer amortization periods. Amortization works like deterioration, just that it decreases the helpful existence of impalpable resources. For more subtleties on this, look at this post by Investopedia.

In the land, a commonplace borrower might be issued with a business advance that takes eight years with an amortization time of 25 years.

What amount of store do I requirement for a business property?

The measure of the store you will be required to have may contrast starting with one lender then onto the next; be that as it may, you can expect anything in the scope of 20% to 40% of the buy sum. By and large, stores for business land tasks are in every case marginally higher than for private properties.


Business land financing in Canada is one of the most well-known methods for owning a bit of the property showcase. Indeed, even as the interest for business land continues taking off in Canada, monetary organizations have been excited about offering extraordinary motivators to potential business mortgagees to progress toward becoming property proprietors through dealing with an arranged loan fee, adaptable reimbursement periods, over 90% financing, in addition to other things.

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Guide on how to Buy gold in Toronto, Canada

Throughout the world, the most valued asset is Gold. It has a vast rich history that has been into existence for thousands of years. The first gold coin appeared around 800 B.C ago and the purest gold coin around 300 years later. This makes people hold gold for different reasons. However, this is the 21st century, now economies have placed value and the gold has more worth than before. Now it’s not just a piece of metal that implies it has insurance against hard times. Given below are reasons to buy gold Toronto.

buy gold Toronto

Short history-

Just like coins, paper currency and another valuable asset, gold has also maintained its worth throughout the ages. Gold is used to preserve wealth and a way to pass it on to the upcoming generation. People have valued this precious metal and its properties. One such popular property is it doesn’t corrode, however, can be melted and beautiful artwork can be made. It has a beautiful color that mesmerizes millions of eyes. Since the electron in gold moves faster it is heavier and absorbs light.

Inflation hedge-

Gold is an excellent hedge in contrast to inflation as the price keeps on rising when there is an increment in the cost of living. Investors saw it soar up the stock market during high-inflation. It is because the fiat currency loses purchasing power because of inflation however gold is to be priced in currency units. It can be seen as a good store that encourages gold buying in Toronto.

Deflation protection-

Time in which there is a decrement in price due to slow down of the economy and business activities because of excessive debt are termed as deflation. During the depression, gold soared and others have a price drop. This could be a result of hoarding cash and placing money in the safest investment i.e. gold.

Geopolitical uncertainty

In financial uncertainty, the gold will retain the value. This is known as “crisis commodity”. It outperforms other forms of investment and it is relatively safe.

Increasing demand

The demand for gold comes into existence with the increased emergence of market economies. One of the frontier gold-consuming nations all over the world is India. Since it can be molded in the form of jewelry, it is demanded globally. It thus seems to give an experience like traditional saving.

buy gold Toronto

How to buy?

Buy gold Toronto is made easy and includes no sales tax. Online retailers are best compared to local shops. The biggest advantage of it is a greater geographical reach and low operating cost. It allows saving by offering the product at a low premium. Try to grab one that is of standard quality, sophisticated and offers with innovative security.

Gold has become a crucial part of an investment portfolio. The gold maintains its value throughout the long run. It serves a hedge on contrary to inflation as well as erosion of currencies.

You can visit various online sites that claim to offer 100% pure gold and try to evaluate it on various parameters.

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Checklist to avoid hidden charges when calculating total landed cost

If you are calculating your landed cost, you need to be aware of possible hidden charges.

Knowing them will provide a more accurate estimate which means saving money.

In some cases, significant money.

Is identifying hidden costs easy? NO

Is it critical? YES, if you are protecting your bottom line.

According to Reg Johnston, Owner, RJ & L Consulting Ltd, “hidden costs can have a significant impact on the total landed cost. Many people don’t think about things such as seasonal rates and surcharges.”

The following is a checklist to help make identifying hidden costs easier for you.

his list tackles all stages of shipping a product including:

  • Inbound transportation
  • Occupancy
  • Inventory
  • Outbound transportation.

1. Inbound Transportation

Loading a trailer poorly can drastically increase costs. You need to ensure there is the right balance between weight and cube when load planning.

Lane costs can vary greatly depending on origin/destination pairs (lanes) such as Shanghai to Winnipeg or Shanghai to Toronto.

Gather cost estimates for every lane. 

Costs for modes of transportation/capacity and delivery time from supplier location to your location can change from one carrier to another and from one geographic region to the next.

When calculating cost of duration 
cost/rate, consider all variables.

Many companies have multiple carriers for each lane so you want to be sure you cover each lane.

You can uncover any hidden costs here by determining the lanes (the delivery route taken), the volume in each lane and the merchandise class being shipped.

You can identify poor carrier service, inefficient routing and inbound shipment rates that are too high by conducting a lane-by-lane benchmark analysis.

Seasonal rates, where they apply, may vary so negotiate the best rate.

Additional surcharges, duties, tariffs, taxes, brokerage fees and insurance costs should be negotiated and can vary.


2. Occupancy

Labour availability, wage rates (influenced by housing availability, price and public transit).

Inefficient processes for pickers will add to costs. For example, if pickers are going out into the warehouse to locate and pick split case items manually, this can add to costs.

An efficient system would bring the inventory to the picker who remains in one location. Look for efficient picker systems.

Poor administrative paper systems that do not operate in real time can add to costs.

Human error at the outbound dock can add up. All trucks need to be going in the same direction to help avoid confusion and costly mistakes.

A company’s occupancy costs can impact earnings, share value, and overall performance. Reducing these costs can lower total landed costs.

The case assembly process for mixed case palletizing can add to costs if it is inefficient. This complex process can be streamlined with semi-automated or automated systems.


3. Inventory (cash to close cycle)

Inventory that is in transit too long can add to costs. Minimizing the time your inventory is in each phase of transit will lower your total landed cost.

Exchange rates 
trade financing options can vary.

Damage of inventory due to improper storage. If product is too hot or too cold, damage occurs and this adds to the cost.

Poor material handling needs to be properly maintained. For example, a broken conveyor belt can damage boxes and inventory.

Inventory held too long can be costly. You pay interest for the time your inventory is being held.


4. Outbound Transportation

Costs for modes of transportation/capacity and delivery time from the facility to the customer can change from one carrier to another and from one geographic region to the next.

When calculating duration
 cost/rate, consider all variables.

Lane costs can vary greatly depending on origin/destination pairs (lanes) such as Shanghai to Winnipeg or Shanghai to Toronto. Gather cost estimates for every lane.

Loading a trailer poorly can drastically increase costs. Real time software will help find the right balance between weight and cube.

Inefficient drop off planning can add to costs. When routing, you have to manage pick-up and how goods will be stored. The first drop off should be the last load onto the truck.


Other variables that can increase total landed costs

Rates for full truck, less-than-truckload (LTL) and small package pricing.

Many companies have multiple carriers for each lane so you want to be sure you cover each one. Look for inefficiencies in the combination of multiple carriers.

There can also be additional surcharges, taxes (eg. fuel taxes) and insurance costs so be sure you have all these costs worked out in advance.

Last minute changes such as time sensitive needs including traffic, customer delivery windows and proximity to customers can also add unexpected costs.


A few final pointers

When calculating total landed costs, companies are more frequently calculating a triple bottom line to allow for variables such as CO2 and socio-economic impacts.

Many companies also include risk assessments and require flexibility in network design and agility.

These companies are also allowing a small margin for unexpected costs incurred along the way.

This checklist is not intended to be comprehensive.

Rather, it is a starting point where businesses such as yours can share additional ideas on how to identify hidden charges when calculating total landed cost.

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Where to get an education for supply chain management jobs in Canada

With the emergence of global markets, the need for supply chain and logistics management has become even more critical.  

Hiring and maintaining skilled employees in the supply chain is one of the most effective ways of lowering total landed cost. 

According to the Van Horne Institute, there are more than 804,000 Canadians working in supply chain jobs such as

  • inventory management
  • planning
  • purchasing
  • manufacturing
  • dispatching
  • transportation
  • shipping and receiving
  • demand management

Logistics positions cross all sectors, from healthcare, to retail, to energy, and to non-profit. They will even take you across national and international borders.

Organizations are recognizing the tremendous advantages that can be realized through collaborative management of the whole logistics and transportation network.

As the economy grows so does the demand for goods and services. With all that demand, the need for supply chains workers explodes.

Studies of the supply chain workforce include:

  • Calgary Logistics Council’s 2012 Accelerator Project
  • Canadian Supply Chain Sector Council’s national HR Study Update.

These types of studies indicate an urgent current and growing need for skilled supply chain professionals and workers at all levels.

In Alberta alone, for example, the Accelerator Project forecasts a requirement of 50,000 workers between 2011 and 2020 in just 10 occupations.

According to the Van Horne Institute, the anticipated number of new and vacant positions in Canada over the next five years is 356,747.

College and University supply chain graduate programs in the Calgary Region

Photo credit: jasonwoodhead23 Creative Commons

The Calgary Region, one of Canada’s supply chain and logistics hubs, has some of the nation’s best educational programs for training tomorrow’s workforce.

Groups like Van Horne Institute are working with colleges and universities in the Calgary Region to help meet the growing demand for the supply chain management jobs in Canada.

While not comprehensive, the list below will highlight some of the programs being offered in the Region:


1. Mount Royal University 

Bachelor of Business Administration – Supply Chain Management

This degree concentration explores the fundamental topics and components of working within supply chains, including

  • distribution,
  • inventory and warehouse control
  • e-business and
  • procurement strategies

Students are given a broad overview of how different parts of the supply chain fit together and the critical role each plays in the success of all organizations.

The program takes a business approach that focuses on integration and partnerships at every touch point in the supply chain. It has been in place now for 12 years having graduated 250+ students , most working in SCM roles here in the Calgary Region.

A variety of excellent opportunities are available to students completing the program including:

  • Import/Export Agent – Research import/export best practices, build effective transportation routes for goods, oversee movement of goods, and ensure delivery deadlines are met.
  • Transportation Analyst – Improve transportation safety and efficiency while reducing costs and minimizing environmental impact and work with data pertaining to traffic of goods via land, air, and sea.
  • Logistics Coordinator – Organize personnel, assist with employee training, oversee budgets and courier expenses, and complete and maintain quality assurance checks.

The program is accredited by the Canadian Supply Chain Sector Councilthrough its National Accreditation Program (the NAP).


2. SAIT Polytechnic 

Supply Management Training (SMT)

SAIT’s, SMT program is designed for individuals working in junior and intermediate supply chain positions.

Students will develop skills and confidence to support increasingly complex upstream and downstream supply chain management activities.

SAIT delivers this high-quality program on behalf of the Supply Chain Management Association (SCMA) – the leading and largest association for supply chain management professionals in Canada.

Students will also acquire other important skills such as negotiation, contract management, marketing, accounting and more.


3. University of Calgary, Haskayne School of Business

Supply Chain Management 

The Bachelor of Commerce degree at the Haskayne School of Business includes supply chain management as one concentration.

Students choosing this concentration are required to take three core courses: Materials and Supply Chain Management, Transportation Systems and Analysis, and a Senior Project course.

They have the opportunity to be exposed to diverse topics such as service operations management, negotiation, regulatory economics, transportation planning, services marketing, and project management.

The curriculum will often include industry-based projects.

The following summarizes the types of positions graduates are prepared for:


  • identify global sources of materials, select vendors, and manage negotiations,  contracts, and relationships
  • coordinate with materials management and ensure timely delivery of appropriate materials


  • supervise a variety of functions, including warehouse and distribution operations, forecasting, planning, inventory management, logistics information systems, and customer service
  • develop and maintain cooperative relationships with logistics suppliers and other members of the supply chain


  • work with client organizations to enhance supply chain performance through strategic planning, process reengineering, and/or information technology implementation
  • develop supply chain tools, processes, and knowledge bases needed to create customer value, build competitive advantage, and boost profitability 

Positions Obtained by Recent Grads

▪     Export Manager

▪     Fleet Manager

▪     Inventory Analyst

▪     Logistics Manager

▪     Purchasing Manager

▪     Supply Chain Coordinator

▪     Transportation/Logistics Analyst

▪     Warehouse Manager


4. Athabasca University

Supply Chain Management Course

Athabasca University (AU) is a leading Canadian online university. It offers an online six credit course in supply chain management (SCM).

This in-residence elective focuses on various tools, techniques, and approaches for SCM, with supply chain integration as an underlying theme.

It also looks at the practical application of technology and close collaboration, which are key components in SCM.

Students study a variety of supply chain contexts: e.g. for-profit versus not-for-profit (NFP); humanitarian logistics along with the role of SCM in the production and distribution of goods, services, and information.

The program includes a special focus on SCM in the services context

The goal of this course is for participants to understand the big picture of SCM, apply analytical tools, and make recommendations for supply chain performance improvement.

You will also study alternative perspectives on logistics vis-à-vis SCM, which define the breadth and depth of SCM.


Start your career in supply chain management today!

As the economy grows so does the demand for goods and services. With all that demand, the need for supply chains workers explodes.

The time is right to consider your educational options to prepare for a career in supply chain management.

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