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Why is it that very few of us actually take the time to sit down and actually assess our savings, spending and banking options until we want to buy a home or we begin to think about our retirement savings? Are companies profiting from our ignorance? Are they "banking" on it?
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Along the way, you've assembled a trail of savings -- a locked-in retirement account here, a defined contribution pension plan there, a mutual fund account at your bank and some stocks in a discount brokerage. It doesn't take long before your assets start to look like a jigsaw puzzle with pieces in various places.
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We list six reasons why it’s important to both save and maximize your hard-earned dollars.
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It may seem like you can’t afford to save, but there are daily opportunities to be frugal.
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There are many ways to save and invest, and both are important to your financial well-being.
Want to be smarter with your money? Head to the app store to find hundreds of useful programs that help track your spending and organize bills so that you can head down the path toward affluence.
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Cleaning out the cupboards, taking stock of items that need to be retired or repaired, and outright purging in some cases, is often what is done as the weather changes. And while it's common to want to get your house in order, it's not so common to do the same with your finances.
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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.
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Before you opt out of the real estate game entirely, give some thought to the following considerations. Sound financial planning, a realistic budget and a few good habits will go a long way to ensuring your mortgage is affordable.
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The first major financial deadline of 2016 is February 29. This is the last day you can make a contribution to your Registered Retirement Savings Plan (RRSP) and claim the contribution on your 2015 tax return. You still have the first 60 days to make contributions but with the leap year, the deadline is midnight at the end of the month.
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In 2015, total Valentine's Day spending in the U.S. was expected to reach a staggering $18.9 billion. The holiday is an institution unto itself, with gifts often being purchased not just for romantic partners, but family members, friends, and co-workers. While the pressure to show your love can be overwhelming, Valentine's Day spending within your budget is possible.
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We all know that we should put money away for our retirement. The message has hit home and fortunately many of us are putting away at least 10 per cent -- if not more -- of our net income for our senior years. While this is undoubtedly a good thing, there still exists some confusion about these savings vehicles.
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With the economy continuing to struggle, markets fluctuating and job security in jeopardy, it is no wonder that many people are concerned about their financial futures. In such uncertain times, feeling out of control -- especially when it comes to finances -- can lead to unnecessary stress.
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To err is human. Mistakes can be a valuable learning opportunity, and sometimes, the bigger the mistake, the bigger your lesson will be. Lucky for us, there are plenty of people out there who made huge personal finance mistakes in 2015, and we have the benefit of being able to sit back and learn from them.
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For those employees who are fortunate enough to receive a year-end bonus, many may be tempted to spend it immediately. But I advise you to resist the urge to spend the money on frivolous items and instead think about putting your hard-earned bonus to work for you.
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It's officially December now and I have no idea what to get anyone for Christmas or how much it'll cost. Everyone should be getting ready to be merry and jolly, but I'm banging my head on the wall thinking of what everyone wold love without breaking the bank.
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If you did not purchase everything on your list on Black Friday, many of the same items, plus online exclusives will be available on Cyber Monday. When it comes to Cyber Monday, it pays to plan ahead. Ensure you don't miss out on any of the year's best online deals by following these six tips.
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When improving or correcting money management behaviour in others, we must be sensitive to the personal and emotional definitions of value that are consciously and unconsciously involved. Yet most financial literacy programs avoid this altogether and focus on the more pragmatic and practical skills.
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For most households, the holiday season is an enjoyable time of year to spend with friends and family but it can also be one of the most stressful -- with travelling, hosting and gift-buying all being a major drain on the household finances. Follow these tips to have an enjoyable holiday season while keeping your wallet intact.
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Parliament will reconvene on December 3. While the priority focus will be on marginal tax rates for the middle class and those making more than $200,000, it's worth paying attention to a proposal that was a key promise from the Liberals: rolling back TFSA contribution limits from $10,000 to $5,500.
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It's fall now, and there is so much to do that is more fun than paying your bills. Wouldn't you rather carve pumpkins, shop for new turtlenecks, or take the kids for a drive to see the changing leaves? Why not set up your money tasks so that they are off your to-do list PLUS make some bonus money while doing it?
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The cost of tuition can be overwhelming to say the least. For families and students trying keep afloat this year, making tuition payments is already a challenge often managed by multiple loans, jobs and sleepless nights spent studying or trying to make the grade in order to maintain a scholarship.
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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.
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It's aid that people are more genuinely happy through experiences rather than things, so pick your ultimate travel location and go! I'll show you how to do it for the most bang on a budget. Did you think of where you wanted to go? Did it pop in your head? Book it boo! Make sure you have the money first. I'll show you how.
I was at a workshop the other day about personal finances. Instead of the usual blah blah blah about investment opportunities and admonishments to save more for retirement, this one took a very different tack. The moderator wanted us to consider our emotional relationship with money. The first question she asked was who's in control?