Unfortunately, if your insurance cannot cover the entire medical bill, it can be a daunting task to find the money immediately to pay off your bills. Meeting monthly household budgets is a challenge itself; add to that sudden unforeseen medical bills and it could immediately start a downward spiraling financial situation for you. The good part though is that you do have options which you could utilize before things go out of hand.

The first option is to apply for a payday loan. Payday loans are short-term loans where lenders are ready to give you cash within 24 to 48 hours as long as you have a job. The moment you receive your next paycheck, the payday loan amount will be due. In simple terms, it is like you are taking a cash advance against the paycheck you will receive at the end of the month. Certain provinces in Canada have strict regulations with respect to payday loans and some restrict the loan amount you can qualify for as per your net paycheck amount. If you feel the payday loan amount you are eligible for is not enough to cover the current medical bills, you can even opt for an auto title loan.

This is another simple short-term loan which can be acquired within 24 to 48 hours. The prerequisite in this type of loan is that you need to own a vehicle which can be a car, truck or even a mobile home. In exchange of the title of your vehicle, an auto title loan lender will lend you an amount which can be used for any purposes including paying your medical bills. Auto title loans work out really well because depending upon the value and age of your vehicle; you could qualify for quite a high loan amount.

These types of loans are not only good for situations where you know you will incur a large expense, but because they are usually processed within 24 hours, they are perfect for sudden unforeseen situations which could have a huge impact on your finances.

However, with constant talk against the payday loan industry, many of the regular borrowers or patrons of payday loans have started to speak up as well. There is no doubt that the industry needed some regulations especially to differentiate between the legitimate companies and the fly by night lenders who were in it to make the most of a situation. But it is completely unfair to constantly talk about the negatives of the industry when there are literally hundreds of thousands of people each month who are being helped by the very same industry to meet with their bills and other emergency expenses.

What regular borrowers of payday loans feel is that a few cases of overcharging by some lenders and a few negative experiences of certain borrowers have ended up causing a lot of storm. There are many people who genuinely depend on payday loans for effective money management and to run their households without having to wait for their paychecks at the end of the month. At the same time, borrowers themselves feel that individuals applying for such loans should be more responsible in their financial habits. Many individuals borrow money when they are well aware of the fact that they may not be able to repay on time. These individuals are also aware of the interest rates and other charges in case of a default but still go ahead and apply for the loan to get quick cash in their hands. Regular borrowers feel that these kinds of individuals are the ones who ruin it for others.

Borrowers who have spoken up for the payday loan industry feel that at least the new regulations in place will not just stop exploitation by certain lenders, but will stop many of the errant borrowers as well from further going into debt. It is felt that the payday loan industry has the same pros and cons as any other loans or banking financial instruments for borrowers and each person should do their due diligence before applying for the loan appropriate for their specific situation.

The scam that has been quite widespread recently is that of a loan in exchange of some money upfront. People pretending to represent companies or lenders who cater to individuals with a poor credit score contact individuals from all across Canada and offer them a loan as long as they can pay a certain percentage upfront. For example, if you want to borrow $2000 for any purpose and you get contacted by one of the loan scammers, you will be asked to pay $500 to show you are good for the money lent. It is like using cash not just as collateral but using it as a means to borrow even with a low credit score. Usually the scammers will ask for this money upfront to cover processing charges plus as a goodwill gesture to prove your ability to repay. Unfortunately moment you pay them this upfront fee either by borrowing from someone or using your credit card, they disappear with your money never to be heard from again.

It is quite scary to note that so many people are still falling for such kind of atrocious scams. The sad part is that most victims would say they needed to borrow fast and they did not have any options considering their past borrowing history. The fact is that all individuals whether or not they have a good credit history, have multiple options when it comes to further borrowing.

If you have a job, you can easily apply for a payday loan to meet with urgent expenses. If you have any kind of bill which is overdue and cannot wait till your next paycheck, simply apply for a payday loan and get the money within 24 hours. If you need to borrow an amount which your current paycheck does not cover, you can even apply for an auto title loan. Auto or car title loans allow you to borrow amounts for any reason in exchange of the title of your car, truck or mobile home. The two types of loans mentioned above do not require you to have a good credit history and at the same time are processed within 24 hours in most cases. So next time you are in need of urgent cash, do not worry. You always have options regardless of your background and make sure you do not fall victims to scams where an unusually high amount is asked for upfront.

With major countries such as Spain, Greece and Ireland all facing a bleak economic future and huge job loss numbers, things are not expected to turn around anytime soon even with bailouts from the EU. Even United Kingdom has been struggling to maintain jobs and wriggle out of the real economic recession in the country. All this has obviously taken its toll on the Euro which has weakened significantly over the past year or so. Even now with the dollar showing some resistance and even signs of recovery, Euro continues to be under pressure with each passing day.

However, amongst all the economic turmoil, Canada has emerged as one of the stronger players in the world economy with less than expected effects of the economic recession and a strengthening Canadian dollar. The interesting part though is that many Canadians have seen the global economic uncertainty as an opportunity for extra income and have been indulging in forex trading for a while now. Many Canadians have created a regular and more than expected passive income for themselves by trading in currencies and taking advantage of first the weakening US dollar and at present the weakening Euro.

Forex trading has not just been confined to large institutions and trading of currency futures by financial companies. As a matter of fact many individuals and lower income groups have been able to trade in currencies as well with the help of small loans which has helped them get started in the currency markets. Loans such as payday loans can help any individual with or without a good credit history to apply for a short-term loan to indulge in any kind of trading activity. Since such loans are approved within 24 hours, individuals can trade and take advantage of weakening Euro as and when they feel there is an opportunity. Once they have made some profit from trading and have built a minimum reserve fund on their own, there is no need for further loans and a great passive income can be generated by utilizing a payday loan initially.

One of the newest scams to hit the market is aimed mostly towards investors and businesses. A ‘letter of credit’, which is a legitimate financial contract, is being sent to investors as a guarantee of payment to a seller. More times than not, the investors later find out they’ve been scammed with high interest rates of between 100 per cent and 300 per cent!

The comforts of bluetooth have definitely made life easier for any of us who have used it, and now, most electronics come with such features. Unfortunately, the dishonest have found a way to use bluetooth to steal personal information. Yes, scammers have been caught abusing bluetooth by wirelessly transmitting debit and credit card information back to their ‘base’ via skimming machines that have been planted in restaurants, ATM machines and gas stations.

Phishing emails are not necessarily new when it comes to comparing such devious acts to the new bluetooth problem; however, phishing emails most certainly have come a long way in their look. Copying company logos or duplicating a banks webpage has raised concern as more and more people are filling out personal information and hitting ’send’. This is then used to reproduce fake credit and debit cards in your name.

The recession has caused many people to fall behind on their mortgage payments. Scammers are out and about seeking people who are in financial distress and assuring them they can stop the sale of their home regardless of how far behind they are on their payments. The scam involves homeowners paying these companies hundreds of dollars a month to prevent foreclosure. Mortgage rescue scam also involves signing over the deed to your house. The scammers then transfer the house into their name and then rent or sell it. Legally, the original homeowners are often still liable for the mortgage payments.

Trying to rebuild a bad credit rating can take a long time, however, secured credit cards can definitely help this process. It is worth taking note on which credit card company you chose. Some of these companies offer secured cards with more fees on them than your balance. They charge monthly service fees and annual fees as well as set-up fees and activation fees, all this on top of incredibly high interest rates. Your balance is gone before you’ve even had a chance to make a purchase.

There are also many companies out there who offer overnight (or the next best thing) credit repair. The idea is they claim to be an agency that can help clean up your credit rating by having certain things removed off your report or that they have inside links and can even have debt forgiven. Of course, there is no such legitimate service and unsuspecting people fork over hundreds of dollars in the meantime. If you are looking to repair your credit, it is best to do some homework and check out any potential company you are thinking of doing business with. One great way to know if they’re valid or not is to look for a BBB (Better Business Bureau) logo on their home page. Many legitimate companies that are worth doing business with will have ensured they are registered for both their protection as well as the protection of their clients.

First of all, it’s probably important to understand what the HST is all about. The Harmonized Sales Tax, or HST, was put into affect on July 1, 2010 in the Canadian provinces of Ontario and British Columbia only. This new tax combines both the federal goods and services tax (of five per cent) with the provincial sales tax, which is seven per cent in British Columbia and eight per cent in Ontario. The HST combines these two single taxes into one. As well, it is being applied to certain goods and services, while remaining exempt from others. This, perhaps, is where most of the confusion lies.

Most items that were tax exempt before, like prescription drugs and groceries, will remain tax-free. Items that were taxed with both the GST and the PST prior to the HST will remain taxed the same. However, the controversy lies in the ‘other’ goods and services that were once only taxed the GST, such as everyday products like haircuts and gasoline. Now, as of July 1, they are HST taxed, meaning they are essentially being taxed both the GST as well as the PST. This has caused a significant rise in everyday essentials. So services such as lawyers for instance, were only subject to GST before July 1 but are now subject to both, meaning the full HST is applied to lawyer’s fees.

When it comes to buying and selling a home, the mortgage fees and banking fees will remain as before, meaning they are still tax-exempt. One difference, however, will be in the real estate commissions, as they are now subject to the full HST instead of only the GST as pre-July 1. Also, new homes in both provinces will be taxed the HST, but are eligible for tax rebates depending on the cost of the new home. In Ontario for instance, a home under $400,000 is eligible for a rebate of 75 per cent of the provincial part of the tax, up to a maximum of $24,000.

In British Columbia, homes under $525,000 are subject to a 71.43 per cent tax rebate of the provincial portion of the HST while homes over $525,000 can apply for the maximum rebate of $26,250. Something else to factor in is the cost of new appliances, movers, painters and construction workers who are all now on the hook to charge both GST and PST, meaning you, as a consumer, will be fitting the entire HST bill.

Buying a new home may have gotten a little more complicated, or perhaps it has just gotten a lot more expensive for the average person. Being in the market for a new home can be exciting but it something best done with a lot of financial planning.

Leslie Lloyd, information officer for the Squamish-Lillooet Regional District’s emergency operations centre said, “Based on the information we were given throughout the day yesterday and last night, based on the assessment that was done at that time, there was obviously the very high possibility that that entire dam that was formed could have just been a sudden break.”

The district also had an evacuation alert in place for approximately 4,000 additional residents as the potential landslide measured 40 million cubic meters and was made mostly of snow, mud and large rocks. The mayor of Pemberton, Jordan Sturdy noted this was the largest slide he’s ever seen, also adding, “The biggest slide ever in Canadian recorded history is the Hope slide, and that was 46 million cubic metres. So we’re really up there.”

There have been several landslides in Canada that have caused massive destruction. There was the Frank Slide in Alberta that occurred in 1903, burying an entire town during the night under 30 million cubic meters of rock, while in 1965 Hope, BC suffered a similar slide resulting in four deaths.

Realtors will admit that buying a home is all about location, so if you own a house that tends to get in the way of mother nature once in awhile, it may be a good idea to make sure you have the additional home coverage that will be appropriate for such times. If adding extra coverage to your current policy has been on your mind, but the funds are not available, perhaps relying on a loan might not be such a bad idea. When traditional banks are not an option, getting a bad credit loan could be an alternative that could have you feeling more prepared for Mother Nature.

The Central Bank shares concerns that the economic weakness in the United States combined with the global uncertainty due to Europe’s ongoing debt issues could have a negative affect on both Canadian and global recoveries in general. However, some confidence has been resumed from government plans that have been put into place to prevent additional European deficits from getting out of control. Mark Carney from the Bank of Canada says, “Those responses took out … the possibility of something very bad happening because of the debt burden.” Carney also adds, “Given the profile of growth in the three per cent area both in Canada and the United States, the prospect of that (double-dip recession) is very low.”

The unfortunate domino effect of the slow global recovery will hit Canada especially as the demand for Canadian resources such as exports, soft lumber and other goods will decline. The Bank of Canada is expecting the country’s third-quarter growth to be even more conservative with a 2.8 per cent increase, 0.7 per cent lower than previously hoped. Overall, it is expected that Canada’s growth should average 3.5 per cent for 2010 and an anticipated 2.9 per cent for 2011.

However, the Bank of Canada is certain the country is stable enough to handle the most recent of its lending increases. Short-term interest rates saw a quarter point spike for the second time in two months and is expected to increase another quarter point in the Fall. With the national jobless rate still sitting at 7.9 per cent, it could take a few years for Canada to see that rate dip below the pre-recession six per cent average.

Average Canadians will take a little longer to recover from the recession as both job growth and household incomes remain moderate. Even with the sharp employment gains, 400,000 additional jobs since July 2009, available working hours and pay raises have remained low which instils concerns that consumer spending will also remain low. Despite these numbers, Michael Gregory from the Bank of Montreal feels that Canadians will have time to adjust to the bank’s rate increases.

Throughout British Columbia, realtors have sold a combined 7,722 homes via MLS (Multiple Listing Service). This number shows sales are down about 22.5 per cent from June of 2009. Realtor Ron Antalek notes, “There’s not the necessity of multiple offers and competing bids. People are able to shop. They have time to compare.” On the other side of the real estate market they have seen an increase by almost 21 percent in listings with June offering 59,232 properties to choose from. Based on previous recorded rates of sales, that gives British Columbia a 9-month supply of listings, according to Cameron Nuir, the association’s chief economist noted. He also felt that the tougher rules for qualifying have had an impact on home sales as first-time buyers will have more difficulty getting approved for mortgages.

Muir said, “I don’t know if there’s anything surprising about it, but we’ve seen a transition, in Vancouver in particular, from a seller’s market at the start of the year to a buyer’s market in the summer.”

Where you are buying in British Columbia will also have an effect on your purchasing experience as certain cities are showing bigger drops in sales than others. The popular and sough-after city of Victoria showed the biggest decline with sales dipping a surprising 36 percent in June 2010, compared to June 2009. Kelowna and Vernon also saw a decline in sales by 27 per cent while Metro Vancouver’s sales decreased by a whopping 30 percent.

The current trend is believed to be only temporary as Muir feels certain things will pick up again in the Fall. With the new mortgage rules only recently being put into effect, it seems some of the sting can be felt already as less people are qualifying to buy. Whether it’s a lack of the upfront deposits, not meeting the annual income requirements or perhaps it’s an increase in poor credit scores due to the recent economic turmoil, qualifying can be a challenge to say the least. More and more people are being turned away from traditional lenders due to bad credit not only in B.C., but all across the country. First time home buyers are highly recommended to get their credit rating in order before applying for a mortgage.

The Bureau of Statistics in Australia reported that their economy has created 45,900 jobs in June alone, a far cry from the forecast 15,000. Employment minister, Simon Crean states, “Australia’s strong labour force figures stand in stark contrast to the stubbornly high unemployment rates still being experienced in many other advanced economies, where the aftershocks from the crisis are continuing to reverberate. Australia’s unemployment rate is clearly the envy of most of our major trading partners.”

This news has also seen the Australian dollar climb almost one cent higher, closing at $87.41 US. It has also seen ANZ shares close at more than a 4 per cent increase, which has helped boost the overall market by 2.4 per cent.

Wayne Swan, Treasurer, says the recent data has shown that Australia was “well ahead of the curve. The Australian economy is well placed to benefit from our proximity and links to the world’s fastest growing region (Asia), with the IMF pointing to robust commodity prices which are boosting domestic demand in our economy,” He also added “Australia remains a world leader in the global recovery, with stronger growth, lower unemployment and much lower debt than other advanced economies.”

Australia’s updated figures show a 3.5 per cent growth in 2010 and a forecast 3.5 per cent increase for 2011. It’s an impressive outcome being as the unemployment rate sat at 4.8 per cent in January 2009 and jumped to 5.2 per cent in February as the global crisis began to unfold. At it’s highest point, the unemployment rate peaked at 5.8 per cent, a drastic difference from the government’s forecast 8.5 per cent.

As many other countries continue to flounder during these uncertain times, Australia, it seems, has pulled out of the economic disaster that many of its fellow liaisons are still wallowing in. With the U.S. unemployment rate sitting at 9.5 per cent and Europe’s hitting a record 10.1 per cent, it’s no wonder many people are just not ready to start spending. Maybe it’s time the world took a closer look at Australia’s example.