If you rent, you know how important it is to stretch your monthly budget in order to get a place you love. The line between 'wants and needs' must be clearly drawn, and once you have your budget, it's time to make the most of it. RentSeeker... is here to help you stretch that budget with 10 tips to save you money so you can maximize your housing budget and find an apartment you'll be excited to call home.
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.
The birds and the bees may not be the only difficult conversation you'll be having with your kids, discussing money and finances with your children can be just as challenging. Given the lack of mandated financial literacy courses in Canada, parents can fill the void by teaching financial concepts to their children early on.
Sorry to all of the amazingly talented videographers. I'm sure they do an amazing job but let's face it, how often do you think you will watch the wedding video? Sure it's great to have to show the grandchildren someday but does the cost outweigh the value? I suggest taking the money you want to spend on a videographer and put it towards your photographer budget. Photos will always be displayed in your house and in albums. Plus, photos are a much better thank you gift.
Managing a big change in life can be daunting. That's why we need to have a clear understanding of our financial situation. It can't be fuzzy. Banks, for example, regularly conduct stress tests to identify areas of vulnerability. Testing allows for preventative planning to avoid systemic breakdowns or unrecoverable losses.
One of the first things you'll need to do is open a Canadian bank account. This will give you a safe place to deposit and access your money whenever you need it. Canada's banking system can differ from other countries, and it takes time to understand the various types of financial institutions, bank accounts and services available.
The 2015 Sun Life Financial Annual Check-Up found that 66% of Canadians say their debt level is the same or worse than it was at this time last year. Though 67% say they're optimistic about 2016, only 13% note that paying down debt is among their top three New Year's resolutions. Just four per cent rank savings as a top resolution. Now is the time to make that change!
Hands up if you spent more than you wanted to this past holiday. From gifts to entertaining to travel, it's easy to get swept up in the holiday spirit and dole out more cash than you first intended to. Now the credit card bills have started to arrive and you may be wondering where the extra money will come from?
The world is less linear than ever before. Whether you're collecting your first paycheque or gearing up for the golden years of retirement, a solid financial plan can help guide you towards a brighter life, regardless of what path you choose to take. Here are a few handy hints to help plan for some of life's big moments.
The era of net-zero homes is upon us. These super-efficient homes use rooftop solar energy production and smaller, electric powered heating systems such as air source heat pumps to produce as much energy as they consume. That's some sexy technology, but it only gets us halfway to net-zero. The real secret is insulation.
modern winter tires offer up to 50 per cent more traction than all-seasons, and it's estimated that they'll shorten your braking distance by as much 25 per cent. It's widely reported that winter tires simply handle winter weather conditions better than all-seasons, and from personal experience, I'm a believer.
CPA Canada released a Summer Spending Followup Survey, which revealed that 42 per cent of those surveyed were essentially on-budget this past summer. What does this have to do with holiday spending? Quite a bit, actually. Those who fared better followed a few basic principles we might all want to remember.
The fact many Canadians are living beyond their means and are vulnerable to economic shocks highlights the importance of Financial Literacy Month (FLM), which takes place each November in Canada. This year, FLM aims to use the national strategy as a springboard to rally support across the country in the effort to help Canadians become better money managers.