When one is in business it can sometimes feel like you are on a desert island; alone, adrift and not quite certain what the escape plan should be. What used to seem like plenty of time nine months ago is now a case of, "Holy you-know-what! I only have less than three months left of the year!" and one or more of the following issues is raising their ugly head
It's peak Alberta summer right now; everything is green, the days are long and the sun is finally shining. Which feels like the worst time to utter those three dreaded words: back-to-school. But it really is true; the early bird gets the worm. This is an especially apt metaphor for all of the extracurricular activities that start up when September rolls around.
All the tips on budgeting are based on people who get paid on a regular schedule, but if you're an actor, musician, etc., you'll get a chunk of change all at one time and then often have a dry spell. It's so easy to blow through the money that you get paid and then have nothing left for the few months that you're waiting for that next gig.
In today's highly volatile capital markets, investors who can't stomach the fluctuations have hunkered down in good old Guaranteed Investment Certificates (GICs) and other traditionally categorized 'low-risk' investments. Although it only pays a modest rate of return, you can always count on your money being there when you need it. Or can you?
It's now your responsibility to watch your income and expenses, and confirm that you're living within your means. Make sure you're paying your bills on time, setting a solid retirement plan in place, and saving for your children's education -- while also putting aside funds for major expenses or future emergencies.