Getting approved for a personal loan can be challenging and often stressful for Canadians with poor or limited credit history. Many traditional lenders rely heavily on credit scores to assess risk, meaning those with lower scores usually face rejections or high-interest terms. However, there are alternatives specifically designed to support individuals with bad credit, including […]

As retirement approaches, understanding the financial resources available to you becomes crucial. The Old Age Security (OAS) pension is a key component of retirement planning for many Canadians. This government-funded program provides financial support to seniors, ensuring they have a basic income level in their later years.  At GoDay, we aim to ensure Canadians are […]

Two major credit reporting agencies stand out when you want to understand your credit health in Canada: Equifax and TransUnion. These companies play a crucial role in compiling and reporting your credit history, which affects your ability to secure loans, credit cards, and even rental agreements. However, many people are puzzled by the differences between […]

Goods and Services Tax (GST) is integral to the Canadian tax system, impacting consumers, businesses, and government revenues. Introduced in 1991, GST is a federal sales tax applied to most goods and services sold in Canada.  Alongside GST, some provinces also levy the Harmonized Sales Tax (HST), which combines the provincial sales tax (PST) with […]

Managing personal finances can be a daunting task, especially in the current economic state amid the growing concerns about the cost of living in Canada. According to a survey from late last year, nearly a third of Canadians planned to cut spending in 2024. However, 60 percent of Canadians had no household budget for the […]

Understanding and managing your credit history is crucial for many aspects of life. Credit history records your financial behaviour, reflecting how you manage your debts and financial obligations over time. It acts as a report card for your financial responsibility, providing lenders, landlords, and employers with a snapshot of your creditworthiness.  Despite its critical role, […]

Managing personal finances can often feel daunting, especially when faced with mounting debt. Many individuals juggle multiple financial obligations, from credit card balances to student loans, which can lead to stress and financial instability. According to a 2019 report by the Financial Consumer Agency of Canada, nearly half of Canadians report that financial concerns have […]

Securing a loan can play a significant role in achieving personal or business goals. The outcome of your loan application can significantly impact your plans. This may include applying for a mortgage, obtaining a personal loan, or financing a new business venture. Unfortunately, not all loan applications are approved. According to a 2023 CityNews article, […]

Unexpected medical emergencies can take place at any time, and the financial burden they impose can be overwhelming. The costs associated with emergency medical care can quickly escalate from sudden illnesses and accidents to chronic conditions requiring immediate attention.  Being financially prepared for such scenarios is crucial to mitigate stress and ensure you or your […]

When you borrow money from any financial institution, you will be presented with different methods for calculating your interest rate. The choice between a fixed-rate loan and a variable-rate loan depends on various factors.  Choosing between the two requires a thorough understanding of the fundamental disparities between these lending structures. While fixed-rate loans offer stability […]