Graduating from college or university, landing that first job and renting an apartment is an exciting chapter in any young adult’s life. Finally standing on your own two feet is a rite of passage, however in today’s economy, the cost of that rite of passage is increasing drastically. Millennials and Generation Z are finding themselves […]
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, […]
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 […]
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 […]
How to Choose the Best Savings Account
Whether you’re saving for a new car, a down payment on a home, or post-secondary education for your kids, opening a savings account is an important step to achieving your savings goal. Savings accounts are important because standard chequing accounts don’t pay the kind of interest that makes saving worthwhile, while investments in stocks or […]
How to Manage Your Money in Retirement
You’ve finally retired – congratulations! Now is the time to truly enjoy life after dedicating decades of your life to your career. That is, provided you’ve saved up enough money and don’t have any debt. While many of us long for our golden years to be full of travel and relaxation, the reality is that […]
Beyond the CERB: New Covid-19 Government Benefits
When the Canada Emergency Response Benefit (CERB) was rolled out earlier this year to help Canadians who saw their income impacted by the coronavirus, everyone knew it would inevitably come to an end. The CERB officially ended at the end of September as the government transitions people back onto EI. The EI program is set […]
Two Simple Steps to Get Your Finances Back on Track
When it comes to your finances, have you ever sat and thought, “Where have I gone wrong?” It’s never too late to evaluate your financial situation and get yourself back on track. But going through your finances is like making that New Year’s Resolution – you mean well, you’ll plan on doing it, but you […]
Financial Literacy and the Workplace: A Relationship that Matters
According to the Financial Consumer Agency of Canada (FCAC), money is the greatest source of stress for Canadians – even more than work, personal and relationship issues. Almost half (40 per cent) of working Canadians feel overwhelmed by their current debt load, which continues to increase yearly for many. Unfortunately due to the COVID-19 pandemic, […]
How to Pay Off Debt and Save at the Same Time
Over the last few years, more and more families and individuals have been facing serious financial hardships, which have often stood in the way of their efforts to pay off debt and save money at the same time. Fortunately, there are ways you can regain your financial independence and still manage to save up some money for an […]
