Financial literacy plays a key role in a person’s ability to build financial resiliency and weather life’s storms. The importance of financial resilience was exemplified during the pandemic when many people lost their jobs, became caregivers for family members, or experienced major financial struggles due to decreased savings or inflation.

Co-signing can be viewed as a gesture of support, helping someone qualify for a loan when they might not meet the eligibility criteria on their own. It can be a way to provide financial support to loved ones, but it is important to understand its potential impact on the co-signer as well.  

Credit is an important part of money and finances in Canada, but there are many misconceptions about how it works. To help you understand credit better, we’re breaking down five common myths around credit history and credit reports.