Summertime can become very expensive for young families who need to keep kids busy and entertained. A trip to the amusement park for a family of four can easily cost hundreds of dollars for just a one-day outing – something that’s just not feasible for many Canadians’ budgets. Luckily, there are still lots of ways to […]
How to Get Out of Debt Fast
Can you get out of debt fast? The answer depends on two things. Firstly, the amount of debt you have, and secondly, whether you’re willing to make the necessary adjustments to achieve your goal. According to Equifax Canada, the average debt per person was $73,532 as of September 2020, with non-mortgage debt sitting around $23,000 […]
Should You Pay Down Debt or Save for Retirement?
Many people are faced with the dilemma of knowing they should be planning for retirement but are also in debt. Building up a healthy nest egg for when your working days are over definitely requires early planning, but no one wants to carry debt around any longer than necessary. When unsecured debts are gnawing at you […]
6 Common Money Management Mistakes
Money. You work so hard to earn it, yet it seems to disappear so fast. Even if you’re adamant about putting money aside, you may find yourself dipping into it in the event of an emergency or an invitation for a night out that you just can’t say no to. Managing money is not easy, […]
How to Pay Off Debt in Retirement
In an ideal world, once you’ve reached retirement age you should have a solid nest egg and a house with no mortgage in order to enjoy your golden years. Unfortunately, an increasing number of seniors are finding themselves still in debt when they finally retire from work. There have been a lot of changes in […]
How to Save Money on Groceries
Groceries are a major part of household expenses. In fact, the average monthly grocery bill for Canadian households is $214 per person according to Statistics Canada. What’s worse is that this price is expected to rise. In December 2020, it was announced that food prices were expected to rise at the fastest pace in a decade. According […]
Owe Income Tax in Canada but Can’t Pay? Here’s What To Do
Spring is in bloom, which means that Canadians are preparing to file their annual tax returns. Most people are hoping for a refund, however statistics show that about one-third of Canadian taxpayers will not receive one. Due to Covid-19, a lot more Canadians will find themselves owing money to Canada Revenue Agency, some for the […]
Can You Afford to Go On Maternity Leave?
Having a baby is one of the most exciting times in your life, but it can also be stressful. Not only do you have a new baby to care for, but with up to 18 months off work, your finances may take a hit too. Many Canadians are unprepared for maternity leave and often fail […]
The Hidden Costs of Buying Your First Home
Many first-time homebuyers are unaware of the hidden costs associated with buying a home. As a result, they are ill-prepared and often taken by surprise when the final closing date comes. If you are looking to buy your first home, you should understand that you’ll have to pay for a lot more than just your […]
How to Get Out of Debt on a Low Income
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 […]
