Financial Literacy Month: Credit 101

November is celebrated in the financial community in Canada as ‘Financial Literacy Month’: This year’s FLM theme “Take charge of your finances: It pays to know!” encourages Canadians to take concrete actions to better manage their money and debt, including making a budget, having a savings plan and understanding their financial rights and responsibilities. [Financial Consumer Agency of Canada] A very basic factor in financial literacy, especially when it comes to getting into the real estate market, is understanding your credit. During the mortgage application process, lenders look at your credit record and credit score to check how you’ve managed your debts. It’s a smart idea to review…