What Is The Utilization Rate On A Credit Card?

Mohamed Konate


Mohamed Konate is a personal finance expert and blogger with years of experience in the Canadian financial industry. As a former financial services professional at major institutions, he developed a deep understanding of the financial challenges facing everyday Canadians. Passionate about helping others achieve financial success, Mohamed shares his insights and knowledge on this blog. He holds a Bachelor and a Master in Business Administration from universities in Quebec.

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What Is The Utilization Rate On A Credit Card?
Published by Mohamed Konate | Feb 04, 2025
What Is The Utilization Rate On A Credit Card?
Reading Time: 5 Min Your credit utilization rate is the percentage of available credit on your credit card that you are currently using. For example, if your credit limit is $10,000 and your current credit card balance is $2,000, then your credit utilization is 20%.  The equation to calculate credit utilization is therefore: (Current credit balance/credit limit) * 100… Continue reading What Is The Utilization Rate On A Credit Card?
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How Does A Secured Credit Card Differ From An Unsecured Credit Card?
Published by Mohamed Konate | Feb 04, 2025
How Does A Secured Credit Card Differ From An Unsecured Credit Card?
Reading Time: 5 Min Secured credit cards differ from unsecured credit cards because they require a cash deposit to act as collateral. This cash deposit represents your credit limit, meaning you can only spend up to the amount you deposited. On the other hand, traditional credit cards are unsecured. These allow you to use your credit without needing to… Continue reading How Does A Secured Credit Card Differ From An Unsecured Credit Card?
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How do you budget with a small income?
Published by Mohamed Konate | Updated May 15, 2025
How do you budget with a small income?
Reading Time: 6 Min Making the Most of Limited Income: Practical Tips for Budgeting on a Small Scale Are you struggling to make ends meet with small earnings? Budgeting may sound overwhelming. However, it’s entirely possible to control your coins correctly. In this text, we will discover realistic techniques and hints that will help you finance a small income… Continue reading How do you budget with a small income?
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What are the 3 R_s of a good budget
Published by Mohamed Konate | Updated May 15, 2025
What are the 3 R_s of a good budget
Reading Time: 4 Min ‍‍Mastering Your Finances: Unveiling the Crucial Role of Budgeting Managing your money is a crucial factor of personal finance, and this is often ignored or undervalued. Numerous people face economic problems, living from one paycheck to another and struggling to reap their financial goals because they lack a firm price range. But what exactly is… Continue reading What are the 3 R_s of a good budget
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How do I create a budget template?
Published by Mohamed Konate | Updated May 15, 2025
How do I create a budget template?
Reading Time: 8 Min ‍Crafting Your Money Blueprint: A Simple Guide to Building a Budget Template Creating a budget template is a clever way to manipulate your budget and reap your economic goals. Whether you’re saving for a dream excursion or looking to get out of debt, a finance template will assist you in staying prepared and making informed… Continue reading How do I create a budget template?
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How do you make a realistic monthly budget?
Published by Mohamed Konate | Updated May 15, 2025
How do you make a realistic monthly budget?
Reading Time: 7 Min ‍Crafting a Realistic Monthly Budget That Works for You Creating and sticking to a practical month-to-month budget is essential to handle your budget effectively. Whether you’re trying to save for a specific intention, repay debt, or honestly have a more transparent photo of your charges, nicely planned finances let you acquire monetary stability. This newsletter… Continue reading How do you make a realistic monthly budget?
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