Every year 450 thousand young adults graduate from Canadian post-secondary schools and begin their transition into the real working world. The real world comes with real responsibilities, such as managing a more substantial source of income, paying taxes, opening a savings account, renting a living space and maybe even financing or leasing a new car. You know... all that super cool ‘adulting’ stuff.
Through discussions with our friends, we felt there was a lack of understanding and preparation for the new world of finances they are about to enter. So we created a survey and collected hundreds of responses. The results were conclusive: there is one thing that almost all real-world newbies have in common, and it is that we have no idea what we are doing. In all seriousness, more than two-thirds of respondents are not confident they have the right financial products.
Why is this the case? With four years of high-school and a minimum of four years of post-secondary, you’d think at some point everyone would learn about properly managing their finances. I ask you: through your education did you learn about personal investing, how credit cards work, or what to look for when applying for a mortgage? Unfortunately, your answer is most likely no.
The hard truth about other educational sources such as the internet, banks and family or friends, is they provide biased or even conflicted solutions. The internet is filled with spammy sites that are trying to do whatever they can to have you sign up for a product and put cash in their pockets. Each bank has a series of products that they can offer you, which may or may not be your best solution. Your family and friends advice will likely come from their experiences, and while they will have your best interest at heart, it is unlikely to guide you down the optimal road.
If you're wondering who we (the people on this keyboard) are... we are also graduating students who originally found it difficult to identify the right financial products. But we’ve done a ton of grunt work and explored the dark corners of the internet to pull back the curtains on the secrets of this world. We’ve evolved into the nerds and hackers that know how to sift through the bull💩to find the best solutions.
Our mission is to provide a resource which allows you to make the best financial decisions without all the work. Because we know that saving a few hundred dollars per year can buy a lot of $9 drinks. And we know that you’d much rather spend a few hours watching Game of Thrones instead of reading incredibly dry descriptions of financial products.
Simply put, RateRover is an impartial, unbiased and always free tool which guides and educates the next generation to make the right financial decisions.
The first version of our product is ready. Which is specifically for finding your best credit card based on your spending habits and lifestyle. You can take the first step in taking adult-like responsibility for your finances by clicking the button below👇.