Post-Pandemic: How To Get A Fresh Start On Your Finances | Refresh Financial

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Post-Pandemic: How To Get A Fresh Start On Your Finances

How To Get A Fresh Start On Your Finances

When you’re in financial trouble and buried under a mountain of debt, it’s hard to imagine how it’s possible to fix the situation. Three-quarters of the Canadian population struggle with debt and it can feel impossible to get out of. The COVID-19 pandemic has only exacerbated this situation.

If this sounds like you, you might just need some good old-fashioned help, so let’s take a look at some of the best options on how to get a fresh start on your finances now that many people are returning to work following the pandemic shut down. 

How the Credit Builder Loan From Refresh Financial Can Get You On the Right Track

The Refresh Financial credit builder loan is designed to help anyone build credit and get their credit score back on track, no matter how bad their credit score is. Your chances of being approved are nearly 100% since a credit check is not necessary. Once you’ve signed up, the loan will start reporting to the credit bureaus which will help build your credit score.

Here are the steps you need to take to get your fresh start on your finances:

1. Sign up for a Credit Builder Loan (or Secured Card, or both!)

Apply and get approved! It’s easier than getting out of bed. With an online form and automatic approval, making your first step towards a new and financially secure life is a breeze. Click here to get started with a credit builder loan.

2. Budget

Once you’ve been approved for a Refresh credit building product, and you're set up with monthly payments that suit your lifestyle, you need to sit down and make a budget that works for you. It’s important to be realistic in your budgeting, but make sure you challenge yourself. Be as strict as you can when it comes to spending your money.

3. Keep Track

Track your spending. Having measurable results is crucial to helping you identify where you can cut back on certain things, or perhaps eliminate altogether.

4. Cut Expenses

Cutting back on the areas you’ve identified as problems is a great step, but try to find ways to reduce the costs on things you need, too. A huge part of getting back on track financially is sacrifice and self-discipline - these are the two most useful skills to acquire while working to improve your money situation. This skill set is hard-earned, but once acquired will help you climb out of the hole you’ve found yourself in, and prevent you from falling in again.

We’ve put together some budgeting tips to get you on your way to your financial fresh start. Read our “8 Tips For Successful Budgeting”.

5. Pay Off Debt

Due to interest, your debts are likely continuing to grow unless you’ve started paying more than the required minimum payments. Daunting as it may be, contributing as much as you can afford towards your debt will be a necessary step in rebuilding your credit score. You will also save money on potential future interest that your debt could accumulate.

6. Starting to Live Debt Free

Let’s take a step into the future. You’ve cleared your debts! You’ve come to the end of your Refresh Financial Credit Builder Loan! What does it feel like to have the weight of the world off your shoulders? Not having to owe money (and in fact, having a bunch of money that is now yours to access), having a stellar credit score, gaining access to lower interest rates? Even becoming eligible for premium credit cards with amazing rewards? Lenders will start seeking you out instead of the other way around. This is entirely possible

7. Take Heart

It’s easy to convince yourself that there’s no point in trying, but you’ll be surprised how Refresh Financial's products can help. Remember, even the most hopeless of situations are fixable, and even a damaged credit score won’t stand a chance against the help from people who want to see you succeed.

To learn more about our Credit Builder Loans for bad credit, click here.

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    What Canadians are saying about Refresh

    I would like to thank Refresh Financial for helping me get out of a bad spot. I never thought it was possible and almost gave up on things and then I saw Refresh Financial and and gave it a try. At first I was unsure of things but to see my credit score now makes me a believer in this program.

    – Aaron A

    “It hasn’t even been a year yet, possibly only 6-7 months, and my TransUnion score has gone up over 100 points. That was only the tip of the iceberg as recently I was able to get a consolidation loan from my bank that allowed me to move forward and make things easier for me. Talk about second chances!”

    – Angelica M

    “I am now in a position where I am able to obtain credit (just bought a brand-new car and refinanced my mortgage for a fantastic rate) and it took little to no time at all. I would 100% recommend Refresh to anyone looking to rebuild credit with as little hassle as possible.”

    – Cathy M

    “I had not heard of a company doing such a thing before someone suggested it to me and it made sense. I am not very good at saving money and Refresh Financial helped me. I have dealt with them for years now and never had a problem. The customer service is excellent and fast.”

    – Chris C

    Refresh helped me regain credit following a nasty divorce, which left me with a very poor rating. They were able to remarkably help me go from a 480 to a 600 score, in just over a year. Thank you Refresh!”

    – Deb K

    I have watched my credit score jump since being with Refresh and I have already recommended it to friends and family. Thank you for helping me build my credit faster for my future and my children’s future :)”

    – Heather T

    At first I was skeptical because I wasn’t getting funds upfront and had to make payments when I really needed the money. I’ve been in the program a year now and have noticed my credit has improved drastically!”

    – Irene L

    I have been a client of Refresh Financial for approximately 3 years. Since being a client they have improved my credit immensely. Definitely recommend this company to anybody that needs help re-establishing credit.”

    – Jason I

    “I recommend this program to anyone having credit issues. At the end of the agreement, your money is refunded to you. There were times I found myself short on cash and Refresh, with permission, used a portion of my money to clear up my arrears.”

    – Margaret L

    “I would like to thank Refresh Financial for their professionalism, great customer service and for helping get back to a better financial situation. I have always been treated with the utmost respect.”

    – Martine B

    Refresh Financial is an amazing program to help people get back on their feet. I was rock bottom with nowhere to turn. My credit was beyond poor. I would recommend them to anyone. If I can do it surely anyone else can.”

    – Matthew S

    “Great company to deal with for rebuilding credit, very simple process to get started. Good service if you ever have questions.”

    – Mike L

    This business truly cares about its clients. The customer service is always quick to return calls or emails. Their online portal functions very well so as a customer you are always updated as you progress with your loan.

    – Phil J

    “Refresh Financial has made us more aware of how to take care of our financial situation and be more responsible, and making payments on time is rewarding in the end for credit. Thank You sincerely.”

    – Rocky M.

    “Refresh financial is great!!! They boosted my credit score, helped me save money and helped my husband and I buy our house;) I was not only a number to them, they stayed in touch and helped me out along the way. Answered all my questions and concerns.”

    – Sara B

    “Refresh Financial had been exceptionally good to me! I’ve just been out on medical leave and they have accommodated me with my payments without hesitation!! I was in a really bad spot with my credit and they have helped me to try and correct it!! Bravo!”

    – Shannon B

    This company has been nothing but fantastic. They have gone above and beyond to help me. This program has given me the relief and peace of mind I need. I would certainly go back to them and give them names of people who could use this.”

    – Shirley K

    The financial services products are excellent for new immigrants, low-income earners and small business owners. Loans, savings and credit building all in one solution is a perfect fit to help with financial goals and stability.”

    – Soraya H

    “After successfully going through a credit rebuilding loan, I was able to use my built-up equity to purchase a newer vehicle and I have since been approved through a financial institution for a loan.”

    – Tanya W

    “I made some poor credit choices when I turned 18 and have always had this lingering thought of how am I ever going to better my score. Since being with Refresh I have realized that I took the right step towards bettering my future.”

    – Taylor B

    “Thank you Refresh, and my relationship manager for giving me the tools for a better score with a secured card and two credit builder loans. I feel absolutely confident I’m on a better path to financial success. I am happy to be a long term client.”

    – Trevor P

    I’m so excited I’ve joined refresh! I’ve already seen a huge increase on my credit after the first month! The staff are a delight and make this so easy to understand. I strongly recommend Refresh Financial even if you have good credit this will give you a boost and you’re saving money with the reverse loan!”

    – Wayne B