Becoming Financially Healthy with the Help of Credit Education Week

We became Financially fit with Capital One, Credit Canada and Credit Education Week

 

*This is a sponsored post created for Capital One and Credit Canada in support of Credit Education Week.

Money is just one of those things. Some people have a lot of it, some have a little. It’s a taboo subject for some, while others can’t stop talking about it. It’s safe to say that what we do with our money, how we save it, how we spend it, is inherently tied to everything we do on a day-to-day basis.

With this in mind, it’s incredibly important for one to be financially literate, which is why we at StyleDemocracy were stoked to be invited to a Capital One® and Credit Canada Debt Solutions’ Credit Education Week event preview.   

The preview event, which occurred last month, was just a little taste of the knowledge you can learn during Credit Education Week which takes place between November 6-10, 2017.  The event centered around the theme of financial Guilty Pleasures and featured an excellent panel moderated by Colin and Justin the famed duo known for their interior design business, style commentaries and their celebrity interviews.

As spectators of the event the SD team and some of our readers were informed by the panel featuring Addicted Magazine’s Mark Munroe, Travel Blogger Lauren Yakiwchuck and top representatives from Capital One and Credit Canada Debt Solutions.  The panel was put together to help the attendees and Canadians as a whole take control of their finances and better manage their financial guilty pleasures.

Be sure to check out the full panel discussion for more information!

Through the panel, we really learned how credit works and how to utilize free tools to improve your financial health.  

Unless you are in the financial industry or always make sure to cross your T’s and dot your I’s financially there was a wealth of information presented that we’re sure the regular public isn’t completely aware of.

We had a lot of takeaways from the event that helped us become more financially aware and more confident in our ability to learn what it takes to be financially healthy.

One of the best things the panel did for us was to dispel some myths we had about credit. First of all, did you know that you don’t get penalized for checking your credit? This was one of those financial myths we always heard and believed. The good people from Capital One and Credit Canada debunked that myth and told us the difference between soft and hard credit inquiries.  For those of you that don’t know, let us share what we learned.  We learned that a hard inquiry is when a prospective lender checks your credit report to make a lending decision. This can slightly lower your credit score. On the other hand, soft inquiries occur when you check your credit report history. Soft inquiries do not affect your credit score. You are allowed to personally check your credit report through companies like Equifax and TransUnion once per year and these count as soft inquiries.

What makes information like this even more powerful is that Capital One has a feature that can be one of your most valuable tools in keeping your credit in check. We learned about Credit Keeper™ which is a tool from Capital One that gives you access to your TransUnion® credit score for free. It’s simple to use, you can check your credit weekly and see how it changes over time.

Ultimately, it’s always been important to know your credit and to be financially fit, and with the knowledge and free services from companies like Credit Canada and free financial tools from Capital One, it’s never been easier to get a hold of your finances.

While our Guilty Pleasures will always be shopping, dining and entertainment, we now have the financial tools to keep us in check.

Credit Education Week Canada (CEWC) is now in its 11th year. This year’s theme is titled “Guilty Pleasures”, with a focus on helping Canadians successfully launch to reach their financial goals. CEWC continues to be part of a national effort to raise financial literacy awareness and the importance of proper credit education.  CEWC proudly supports the initiatives of Financial Literacy Month through events across the country. For more information visit Credit Education Week’s website.