Budgeting isn't a dirty word, yet for many people the process of creating and living on a budget is seen as confusing, restrictive and scary. Creating a budget is actually a very straightforward process. Budgets aren't difficult but they require organization and discipline in order to be successful.
There's been much hype and commotion since the federal government rolled out its revamped Universal Child Care Benefit (UCCB) last month. Dubbed 'Christmas in July', the change distributed nearly $3 billion to Canadian families, regardless of income, with children aged 17 and under.
It was now the year 2000 and the tech boom was exploding along with my stocks and money. Before I was even 20 I had learned a lifetime of investing strategies and lessons. After all of that here is what I have learned.
When I was a banker we had this tool to show you how much you'd pay in interest over the amortization. When you look at the bottom of the chart I always liked to point out that you basically pay the same amount in interest as you took out on a mortgage at an average mortgage rate.
If the term robo-advisor conjures up images of C-3PO controlling your money, you can relax; robo-advisors aren't really robots. They're simply an innovative way for wealth management firms to leverage technology to create a modern online experience for the benefit of their clients.
Retirement planning is multi-dimensional. Consideration has to be given to both the quantitative and qualitative factors. Framed another way, it's almost like a tale of mathematics and emotions. Both are equally important as they guide you through the next phase of your life.
I have had a money diary for as long as I can remember. I like to write down things like new investment ideas, work ideas, my goals and net worth target for the year. When I'm on vacation I use my diary to write down everything that I want to see and what I've spent that day.
Tapping into workplaces across the country would allow a vast and varied audience to be reached. That audience would include people of different ages, education and culture. Workplace programs also would allow individuals to receive valuable information in a convenient manner.
Canadians are into the height of wedding season, and while brides and grooms may have carefully budgeted for the wedding ceremony, reception, and honeymoon, I worry that sometimes financial planning stops once the special day is done.
For many couples weddings are the first time they must make a decision together about large sums of cash, and they may not be sure with how to approach their finances.
These five lessons made me a personal finance expert and provided the foundation for an awesome life. Money is a fuel for all the things that you want to be do in life and being smart with it makes things easier. Get your kids to understand and love money as soon as you can. Hard work and mastering money will take them the distance.
Statistics Canada reports that more than 2 million students are enrolled in post-secondary education? That's a lot of transitioning. If you're one of the students on that path, or the parent of one heading in that direction, here are some tips to help make the transition successful transition.
Many Canadian families will find they have a bit more money in their pockets this month thanks to the increase in the Universal Child Care Benefit. This will be a pleasant boost to many families' bottom lines! As a dad, I get that there are a myriad of enticing ways to use that money.
From repairing a leaky roof to replacing a car engine, these unexpected costs can add up fast. But more important than unexpected costs, an emergency fund is your safeguard against a sudden loss of income. That's why financial experts stress the importance of having an emergency fund.
When you're falling asleep isn't it always the thought of credit card debt that comes to mind? The best way to deal with that anxiety is with a plan. A plan to stop the bleeding money, set spending thresholds and eliminate that debt!
Happy halfway through the year! How has your year been going financially? Did you get the promotion you were hoping for? Have you been paying down your debt and getting on top of your money? If the answer is no, that's OK, because we still have six more months to go until next year!