Canada Money

Budgeting Today Will Set You Up For Success Tomorrow

Shaun Goolcharan | Posted 04.14.2014 | Canada Business
Shaun Goolcharan

Do you have a budget? It is one of the most fundamental steps in making your money work for you. A personal budget is a basic estimation of the revenue and expenses over a specified period of time. Whether your goal is a down payment for a new house, saving for your child's education, a dream vacation or simply retirement, a budget is the answer to helping you reach your financial goals.

Simple Ways to Make Tax Season Painless

Jeffrey Schwartz | Posted 04.11.2014 | Canada Business
Jeffrey Schwartz

Tax season has begun. This yearly tradition is dreaded by many Canadians, but it doesn't need to be. Taxes are what keeps our roads paved, our schools running, and our health care free. When we think about the money we give to the government, we don't always realize that our money is going towards things we take for granted every day. So, approach the upcoming tax filing deadline with a positive outlook.

Treat Your Time Wisely and You'll Be Rewarded

Anita Saulite | Posted 04.09.2014 | Canada Business
Anita Saulite

Like most working women, I feel time starved. My plate is full. There never seems to be enough hours in the day to get done all the things I need to get done. I am constantly making trade-offs. And, as an entrepreneur with a school aged child, I have less wiggle room.

The Australian Pension System Won't Work For Canada

Robert L. Brown | Posted 04.08.2014 | Canada Business
Robert L. Brown

Now, in Australia, you get a lump sum pay-out (hardly any Aussies annuitize their lump sum). Once again, you have to manage your retirement on your own. Now, even if you knew exactly when you were going to die, this would be difficult, but when you have no idea of your personal life expectancy, this is a problem beyond the capabilities of the average Canadian.

Don't Use Your RRSPs To Invest in Private Companies

Tim Paziuk | Posted 04.05.2014 | Canada Business
Tim Paziuk

It is extremely easy to buy into private companies; they will be more than willing to use your money to fund their ideas and aspirations. It is very difficult for the average investor to successfully "invest" in private companies, since success requires some type of return. I'd rather sit back, enjoy a beer as a customer, and consider some other investment options.

How To Stop Living Large and Start Thinking Big

Anita Saulite | Posted 03.26.2014 | Canada Living
Anita Saulite

Our spending habits say a lot about us and the choices we make with our money. When we become real and authentic with ourselves, we don't use our money to impress people or seek status, because we have nothing to prove. When we are authentic with our money, we are making conscious and mindful choices with it. We are very present and self-aware.

Can You Account For the Cost of Friendship?

Tim Paziuk | Posted 03.26.2014 | Canada Business
Tim Paziuk

When dealing with advisors, an important consideration is competency. If the person you're working with isn't competent, how much is it costing you? I might find that my client's banker is overcharging them or their accountant is less than adequate, only to hear them say that they can't move their business because the person they deal with is nice or maybe even a friend.

What the Marshmallow Test Tells Us About Money Management

Doug O. Jones | Posted 03.25.2014 | Canada Business
Doug O. Jones

Back in the 1960s, Stanford University researcher Walter Mischel conducted a famous study about self-control. After following the study group for 40 years, the researcher's findings about self-control continue to provide insight today into our collective psychology. That insight may be worth reflecting upon as we confront our current debt loads.

Is the Financial Sky About to Fall?

Tim Paziuk | Posted 03.06.2014 | Canada Business
Tim Paziuk

Today most people don't want to believe that the US could default on its obligations, but the simple truth is that nothing, I mean nothing, can continue to expand and not explode. It's a simple law of physics. So is the sky falling? You tell me. And if it is, how can you best prepare for it?

Spring Ahead: How to Achieve the Unthinkable in Your Life

Anita Saulite | Posted 04.16.2014 | Canada Living
Anita Saulite

The first day of spring is just around the corner. The colder winter months will soon be gone and with spring on our door step, it's time to get moving in the right direction with your life and working on your goals. It's also a great time to reflect on where your life is heading as every new season offers new possibilities and a time for renewal.

Have You Met Your RRSP?

Shaun Goolcharan | Posted 04.16.2014 | Canada
Shaun Goolcharan

Each year you are required to take out a portion of your savings from your RRIF, which is subject to tax, but there's no limit on how much you can withdraw. In addition you can name your spouse as a beneficiary, so RRIF assets can be transferred to your spouses' RRIF or RRSP on your death. You can't keep your savings in an RRSP forever.

Forget the Flowers: Use Valentine's Day to Talk About Debt

Douglas Hoyes | Posted 04.12.2014 | Canada Living
Douglas Hoyes

More than 1 in 3 people said they did not discuss their debt with their spouse prior to getting married. If you are starting a new life together would it not be a good idea to at least start a conversation about the debt burden that will impact you and your spouse's ability to buy a home and borrow for other purchases?

Five Tips for Making Money as an Artist Entrepreneur

Sarah Vermunt | Posted 04.08.2014 | Canada Business
Sarah Vermunt

There's a ton of information out there for anyone looking to create a traditional scalable business. And there's no shortage of incubators for tech startups in search of money and mentorship. But what about artists who are going solo and getting paid for their art?

The Difference Between a Mutual Fund and a Seatbelt

Tim Paziuk | Posted 03.30.2014 | Canada Business
Tim Paziuk

Like seatbelts, when it comes to public safety, the Federal Government can intervene. So why ban on Deferred Sales Charges? Quite simply, it's an issue of public safety. There is nothing beneficial to the consumer about a DSC. As a matter of fact, it's nothing more then a legalized trap created by companies that produce and market mutual (and segregated) funds.

You Need to Think Beyond the Dollar

Kelly Lovell | Posted 03.24.2014 | Canada Business
Kelly Lovell

Money shouldn't dictate your success or potential. While it may be more difficult without funding to bring your idea to reality, it doesn't mean it can't be done.In fact in some ways it can be a blessing in disguise. Your passion will be put to the test, your vision will be challenged and with each roadblock your determination will strengthen as your vision grows.

RRSPs: Still Saving After All These Years

Cleo Hamel | Posted 03.22.2014 | Canada Business
Cleo Hamel

The Canadian government first created the Registered Retirement Savings Plan (RRSP) in 1957, to promote savings for self-employed individuals and those without an employer-sponsored pension plan. It's now 2014, and that makes the RRSP 57 years old. The plan is obviously beneficial for many.

How to Talk About Money With Your Partner (and Keep Your Cool)

Anita Saulite | Posted 03.18.2014 | Canada Living
Anita Saulite

Do you talk about money with your partner, better half, significant other? Many of us don't have this conversation and struggle just to address the topic. If we find the courage to reach out and engage in conversations about money how do we keep our emotions in check?

Learn About This Tax Shelter From the Storm

Cleo Hamel | Posted 03.08.2014 | Canada Business
Cleo Hamel

Tax shelters are few in Canada, so it's important to understand the ones that are available. The introduction of the Tax-Free Savings Account (TFSA) in 2009 was met with positive feedback, but it seems Canadians are not always sure about its value.

Is Debt the New Addiction?

Tim Paziuk | Posted 02.18.2014 | Canada Business
Tim Paziuk

Have we become a society addicted to debt? Based on some recent surveys, I would have to conclude that the answer is yes. Debt has become an acceptable fact of life in our society. Can you live without borrowed money? If not, you may be living on borrowed time.

Most Canadians Are No Better Off Financially Than They Were Last Year

Doug O. Jones | Posted 02.18.2014 | Canada Business
Doug O. Jones

A recent Sun Life survey has provided some sobering food for thought ahead of a holiday season that often means less sober endeavours for many. It seems that at year end, the majority of Canadians are no better off financially than they were a year ago and that situation worsens for those 55 years of age and older.

10 Easy Ways to Feel More Festive

Anita Saulite | Posted 02.17.2014 | Canada British Columbia
Anita Saulite

Having trouble getting into the holiday spirit? Christmas can be very stressful, especially if you are shopping for gifts on a budget, juggling work, an active family and festive social commitments. It so important to manage everyone's expectations, including your own. We've come up with 10 simple luxuries that will help you find your inner Santa, astonish loved ones on your gift list and get you in the holiday mindset with enhanced peace and calm.

New Year, New Life: Setting Goals for 2014

Anita Saulite | Posted 02.12.2014 | Canada Living
Anita Saulite

The beginning of a new year is the best time to start fresh and get your life moving in the direction you really want. It doesn't matter how much money you have or make, or whether you are just starting out or have a successful career, by opening yourself up to new possibilities through goal setting, you will start living the life you want.

The Most Important Day for Your Tax Return Is Approaching

Cleo Hamel | Posted 02.09.2014 | Canada Business
Cleo Hamel

New Year's Eve. Champagne toasts and countdowns. Kisses at midnight and Auld Lang Syne. It's a time to look forward to the year ahead, and reflect on the one just past. Especially your taxes. Sorry to rip you out of the reverie, but taxes never sleep. And on December 31, Canada's tax laws set in stone a number of factors that influence your personal tax return.

Does Canada's New Cash Really Break At -30 C?

The Huffington Post Canada | Posted 01.25.2014 | Canada Business

Can Canada’s new polymer bills withstand Canada’s frosty winters? It’s a question some have asked after a Redditor shared a photo of a broken...

Holiday Bonuses That Could End up on Your Tax Bill

Cleo Hamel | Posted 01.25.2014 | Canada Business
Cleo Hamel

We may be looking at something of a Dickensian, bah-humbug holiday season, according to a recent H&R Block survey of Canadian workers. The survey conducted by Leger showed only 44 per cent of Canadians are expecting an employer-hosted holiday party. But if, in fact, the season does put a scrap of gold or silver in your pocket, there's a chance it may come with tax implications, and many Canadians don't realize that.