One of the main reasons why people often have trouble getting out of debt is that they have a low income. After paying rent, groceries and utility bills, there’s often not much left over, particularly for making hefty payments towards debt. Sometimes families just can’t make their financials work each month, despite wanting to stick […]
How to Pay Credit Card Debt in Full
If you’ve been using your credit card as a financial lifeline for a long time, it’s likely you’ve racked up quite a bit of debt. Credit card debt is among the most expensive of all debts and one of the hardest to pay off. With extremely high interest rates, it can be nearly impossible to […]
TFSA vs RRSP: Which One is Better for Me?
When researching different types of investments, registered retirement savings plans (RRSPs) and tax-free savings accounts (TFSAs) are often considered. Although contributing as much as you can to both is the optimal financial strategy, it is often not feasible. This typically leads to people choosing one over the other. Making the best financial decisions starts with […]
Is Renting to Own Furniture a Good Idea?
Consumerism is all around us, and it’s becoming increasingly difficult to ignore. According to Forbes, the average person is exposed to approximately 4,000 to 6,000 ads each day. It’s no wonder everyone wants to buy the latest car, tool or cell phone. In today’s consumer-driven society, the ads we most often come across are for […]
7 Creative Ways to Save Money That You’ve Actually Never Heard Before
Life is expensive. A seemingly loaded bank account can quickly evaporate from a monthly onslaught of recurring bills, minor purchases and daily expenses. You can, however, cut into your monthly expenses in numerous ways. You’ve likely heard the same-old money saving tips such as saving loose change, buying in bulk and couponing, but we’re not […]
How To Plan Your Holiday Finances
The holidays are just around the corner – are you prepared? For most of us, the reality is no. Each year you may tell yourself that you’re going to start earlier, make a strict gift-buying list and stick to your holiday budget, but Christmas always seems to have a way of creeping up on us. […]
Why You Shouldn’t Use Your Credit Card for Christmas Shopping
The holidays are meant to be a happy time, spent with family, friends and loves ones. We take time to go out and shop for the perfect gift to show our love and appreciation for all the important people in their lives. However, with the Christmas carols and dazzling lights, most people get swept away […]
Online Budget Calculators in Canada
The main purpose of a budget is to determine how much money you have coming in and how much money is going out, and to where. For a budget to show the picture clearly, you need to gather financial statements, record your income sources, list your monthly expenses, categorize your expenditures, and make necessary calculations […]
10 Practical Money-Saving Tips for Financial Literacy Month
November marks Financial Literacy Month across Canada. After a difficult year for many Canadians, more and more people are facing financial hardship. Financial Literacy Month, now in its 10th year, aims to help Canadians learn how to better manage their finances in challenging times. “Financial literacy gives Canadians the confidence to make smart financial decisions, […]
How to Grocery Shop on a Budget
One of the most important line items in the family budget is for food, and the best way to manage that budget line item is to stick to a grocery list. Having a list each time you go to the grocery store ensures that you don’t get sucked into impulsively buying things you don’t need. […]
