Financial Planning

Teamwork Helps Students Address Financial Challenges

Cairine Wilson, CPA Canada | Posted 08.21.2015 | Canada Parents
Cairine Wilson, CPA Canada

The post-secondary years are the ideal time to lock in great habits and fill any gaps in your children's financial education. Regardless of whether there are savings set aside or loans to be taken, managing the dollars matters. It's our young people who gain the most from good advice as they take on increased responsibility.

If You're in a Second Marriage, You May Need to Revisit Estate Planning

Suzana Popovic-Montag | Posted 08.20.2015 | Canada Business
Suzana Popovic-Montag

When it comes to second marriages and estate planning, there are many issues to which a will-maker must be alert. Keep in mind that personal family dynamics play an important role in determining what estate plan will work best for you.

5 Ways to Ensure a High Credit Score

Jeffrey Schwartz | Posted 08.20.2015 | Canada Business
Jeffrey Schwartz

It's a three-digit number that can make you or break you -- it can affect your ability to buy a home, rent an apartment, buy a car, and in some cases prevent you from getting a job. But despite its value, many of us are blissfully unaware of our credit score.

How to Settle Your Personal Debt

Dan S. Barnabic | Posted 08.13.2015 | Canada Business
Dan S. Barnabic

Many of us experience financial difficulties at one time or another. While most of us are strong enough to weather periodic financial storms and pay our bills, there are many who are not so fortunate.

How to Design a Budget That Works for You

Andrew Tai | Posted 08.13.2015 | Canada Living
Andrew Tai

Perhaps all we really need is an ability to follow a proper budget. You may have one already but if it's not informing your financial decisions, then it's worthless. The sooner you admit that, the better.

Market-Cap Weighted Indexes: Buyer Beware

Coreen T. Sol, CFA | Posted 08.04.2015 | Canada Business
Coreen T. Sol, CFA

My intention isn't to predict anything about the future of Valeant Pharmaceuticals (VRX). Instead the message is a reminder of how holdings in any market-cap weighted investment vehicle is impacted by the change in size of its constituents.

Financial Education in the Workplace Is Beneficial in Many Ways

Cairine Wilson, CPA Canada | Posted 07.28.2015 | Canada Business
Cairine Wilson, CPA Canada

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.

5 Ways to Pay Off Your Mortgage Faster

David Lester | Posted 08.19.2015 | Canada Business
David Lester

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.

Why Dividend Stocks Dominate My Portfolio

Nanci Murdock | Posted 07.28.2015 | Canada Business
Nanci Murdock

I love my friends. Most are kind, two are funny. Three are generous, and another is shrewd. But my BFF? That friend would be my dividends. My proposition to you is that you start to invest. And high-quality dividend stocks with a track record of increasing their dividend payouts are a fantastic place to start.

How to Fix the Student Debt Crisis

Douglas Hoyes | Posted 07.21.2015 | Canada Business
Douglas Hoyes

Here's the bottom line: too many students are burdened with excessive student debt and that hurts all of us, so a solution must be found, and the sooner the better.

7 Steps to Debt Freedom for Millennials

David Lester | Posted 07.16.2015 | Canada Business
David Lester

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!

How to Strengthen Your Financial Fluency

Jeff Cates | Posted 07.07.2015 | Canada Business
Jeff Cates

Regardless of your age, your job or your personal interests, the topic of money will always be relevant to you. You've likely heard terms "money management" and "financial literacy" countless times before, and with good reason -- having a clear understanding of your finances is non-negotiable if you hope to have a sound plan for your present and your future.

How to Resist the Summer Splurge

Jeffrey Schwartz | Posted 06.19.2015 | Canada Living
Jeffrey Schwartz

Let's face it -- as a nation, our collective summer starvation turns us into ravenous sun-worshippers, giddy and eager to soak up every moment. And for many of us, money proves no obstacle, even if it means going into debt.

Why Investing is a lot Like Weight Loss

Nanci Murdock | Posted 06.17.2015 | Canada Business
Nanci Murdock

After losing 20 pounds, I can tell you that successful investing looks a lot like successful weight loss. Obvious likenesses between the two aside -- expensive products, conflicting "expert" advice, confusing strategies -- there are three similarities that will see you through to the investing finish line.

What to Do if You're Named an Executor of Someone's Estate

Coreen T. Sol, CFA | Posted 05.01.2015 | Canada Business
Coreen T. Sol, CFA

If you have been named as an executor, there are important considerations to be aware of and you may wish to take a look at what the responsibilities are prior to accepting the role.

4 Steps to Creating Achievable Goals for the New Year

Alyson Jones | Posted 03.06.2015 | Canada Living
Alyson Jones

As a therapist, I encourage people to set goals that are practical, realistic and attainable. Avoid the disappointment and discouragement of lofty resolutions by being patient and committed. In order to achieve this, I offer some simple and practical points of reflection and planning strategies that can reveal your priorities and assist you in moving forward.

How to Make Sure Your New Years Resolutions Are Accomplished

Coreen T. Sol, CFA | Posted 03.01.2015 | Canada Business
Coreen T. Sol, CFA

Predictably, the success or failure of your plans may be determined even before the strike of midnight. 'Tis the season for peak gym-membership sales and promises of budgeted spending. Whatever your goals are for 2015, there are a couple of safeguards you can implement to ensure that you aspirations are accomplished.

A Financial Plan to Kick the Annual Holiday Spending

Sarah Twomey | Posted 02.22.2015 | Canada Business
Sarah Twomey

The pressure builds as everyone rushes around buying too much stuff that we know we don't really need before the Big Day. Here's how to realign your financial situation with a five-step holistic or 360 degree approach that takes into account every part of your life.

Mapping Out Your 2015 Goals Is the Best Gift You Can Give Yourself

Anita Saulite | Posted 02.18.2015 | Canada Living
Anita Saulite

A new year brings excitement and anticipation of what's to come. It gives us the permission to make changes in our lives or not. With a little orchestration, we can map out 2015, set goals and accomplish more. This might be the best gift you could give yourself. Let me show you how.

Canadians' Plans To Use Home Value For Retirement 'Pretty Concerning'

CP | David Friend, The Canadian Press | Posted 01.31.2015 | Canada Business

TORONTO - Canadians may dream of retiring debt-free, but research done for Manulife suggests nearly 20 per cent of homeowners expect to lean on the va...

Actually, You Might Be Poorer Than You Think

Tim Paziuk | Posted 12.31.2014 | Canada Business
Tim Paziuk

Regardless of what type of investment products you're using, you should always know what it's costing you to have your money managed. If nothing is done to reduce the fees institutions are charging for investment management services most Canadians are going to be poorer then they think.

Tips For Women on How to Handle Their Wealth

Cindy Crean | Posted 12.30.2014 | Canada Living
Cindy Crean

What should women expect in terms of a financial plan? The plan should include a cash flow projection -- this means how much money you earn and spend in a month, a net worth statement -- which are your assets minus your liabilities, as well as a projection of your net worth throughout their lifetime.

Financial Planning for Your Family Vacation This Summer

Sarah Twomey | Posted 10.08.2014 | Canada Business
Sarah Twomey

This summer has been mostly go-go-go for the family. With school just around the corner, Jill and Joey want some adventure away from home. But can the Does afford it, considering all their recent expenditures? There must be activities that will help them stretch their "kid-fun" dollars, right?

Ways for New Graduates to Save

Sarah Twomey | Posted 06.24.2014 | Canada Business
Sarah Twomey

Graduating students have high debts and the chance of finding a good paying job appears to be low, according to the leading pundits. This may all seem very daunting if you're a grad with two or three part-time jobs who's barely scraping enough together for rent. Here are some suggestions on how you can achieve these goals with careful planning and creativity.

A Money-Saving Secret the Taxman Doesn't Want You to Know

Sarah Twomey | Posted 06.24.2014 | Canada Business
Sarah Twomey

Want to know a secret? There's another tax-free way to save for retirement that the Taxman doesn't really want you to know. It's called universal life insurance, a special financial security portfolio that gives you life and health insurance coverage and a tax-deferred saving component.