According to a 2019 study by Angus Reid, Canadians owe $1.78 to creditors for every $1.00 of disposable income. With stats like this, it's more important than ever to make sure your credit health is on track, especially for first-time buyers planning to buy a home. Here are a few tips to get on the right track
- No credit history can be as detrimental as bad credit, so be sure to establish credit.
- Don't max out your credit cards, make sure to leave room on them.
- Avoid having too many credit cards, even if you don't use them.
- Pay off your credit card balance every month.
- Save up as much as possible for your down payment.