While owning a home is the quintessential American dream, not everyone is able to purchase a home when they desire. There is some financial planning required. If you’re fresh out of school with a boat load of student debt, it’s probably best to wait until you’ve been working for at least a year before you start looking to buy.
If you’ve spent more than five minutes on a kid’s television network or YouTubeKids, you’ve seen just how inundated young kids are with commercials for everything from the latest gadget, to some dreadful snack that features something gooey and/or messy. It’s also safe to bet that many of these kids run to their parents, wanting to buy some or all of these items.
Most consumers typically have both a credit card(s) and a debit card. Of course, the biggest difference between the two is that a debit card will immediately take money out of your bank account when used, unlike a credit card, which will pay for the purchase and later add the amount of the transaction to your monthly statement.
But are there any other differences between the two?
We all have our own unique relationship with money. We certainly have our own unique way of both spending and saving money.
However, if you’re ready to start putting some money aside, or looking for tips on money management, or even the best way to pay your bills, the following tips may provide a little bit of help:
The Retirement Savings Plan has been the cornerstone of financial planning for Canadians for many years. However, despite it's popularity, the rules and regulations that must be followed to remain onside can sometimes be confusing. We've taken an FAQ approach to answer the most often asked questions at our office.
I was at the mall over the Christmas holidays and ran into an old friend from my college days. Here’s how the dialogue broke down:
Me: Hey! Haven’t seen you in forever, how’ve you been?
Friend: Things have been great. Since graduating, I started my own business and things are really rolling now.
Today, in Canada, anyone can call themselves a financial planner. The low barrier to entry in this industry means if you don’t like your current advisor, you can easily find a replacement. In an industry where customer service is key, standing out can be difficult. That’s why we look to add Value Added Services to differentiate ourselves from the competition.
You may or may not know that November is Financial Literacy Month. A whole month dedicating to learning about budgeting, investing, insurance, estate planning, taxation – woah! That’s a lot of information to take in. So here’s the deal…
If you are only going to take away one thing from Financial Literacy Month, it’s this:
Whether I am busy at work or simply relaxing at home, the one thing that is always by my side is my phone. This is hardly out of the ordinary; over 30 million Canadians currently own a cell phone1. Our handheld devices are now the primary method of communicating with others, entertainment, planning our schedules, and even dealing with our bills.
Whether it is preparing to pay off a loan or eyeing up a potential vacation, saving money can be a tough task without a plan. Far too often our immediate financial needs and wants take precedence, while our poor old savings accounts have to take a back seat. During 2018, the average Canadian household savings rate currently hovers at roughly 4.4%1.