Debt

stop spoiling your kids

Stop Spoiling Your Kids!

Spoiling your kids helps no one. Growing up, I knew a guy who received a Mercedes when he turned 16. He was hugely popular in high school (the car may have something to do with it), but he barely graduated and ended up dropping out of college. He later accumulated $50K in debt, which his…

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in the mood for money

In the Mood for Money

As you all know, earlier in the year, I bought a home. I used the majority of my savings which was a weird feeling for me. Even though I knew I was building equity, seeing my six digit savings “disappear” was not a good feeling. Right now, I’m rebuilding my savings, so every purchase hurts.…

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What to do with $10,000

Got $10,000? Here’s What to do With it

If we’ve recently come into a windfall of cash – from a gift, lottery, or inheritance – figuring out what to do with it is trickier than it seems. Paying down debts or increasing our retirement savings are obvious choices, but is it the best option? It depends on our individual situation. The first thing…

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hobbies or debt

Hobbies or Debt?

When given the choice between spending on hobbies or paying down debt, our decision should be easy to make. But unlike death and taxes which are certain in life, we still have a choice when it comes to how we spend our money. Unfortunately, many people will choose to spend on their hobbies, but guess…

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Payday loans are the worst

Payday Loans are the Worst!

If you didn’t know, payday loans are the worst! The amount of interest you’ll end up paying is insane – think 500%+. Yes, you read that right, you could end up paying FIVE HUNDRED percent interest. That makes your credit card interest look like a steal. With the cost of a loan being so much,…

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Money moves to make

5 Money Moves to Make now

There are plenty of money moves that we should do but how many of them do we actually go through with? Who wants to worry about the future when spending money right now is so much more fun. Heck, even if we don’t have money we can still spend just by using our credit cards.…

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get out of debt fast

Get out of Debt Fast With These Methods

Let’s be clear, if you owe thousands of dollars on multiple credit cards, there’s no way to get out of debt fast. If you see a company claiming they can clear your debt or fix your credit score for a small fee, the odds are they’re a scam. If you want to get out of…

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Preparing your finances

Preparing your finances in case of a downturn

In case you missed it, Liberal Finance Minister Bill Morneau announced an $18.4-billion deficit in February. That’s a far cry from their original plan to keep the annual deficit at under $10 billion. This shouldn’t be terribly surprising considering how the Canadian economy has been doing as of late, but it does show how quickly…

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rules of personal finance

The Rules of Personal Finance

A few weeks ago I was watching the movie Fight Club. In one of the scenes, Brad Pitt’s character Tyler Durden was explaining the 8 rules of fight club. If you wanted to be part of the club, you had to follow the rules. It was pretty simple and didn’t need much more explaining, but…

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student loan payments

Getting on top of Your Student Loan Payments

I’m fortunate enough to have graduated without any student debt. My parents had set up a Registered Education Savings Plan (RESP) set up for me at a young age so I never to worry about taking out a loan. The cost of a post-secondary education has increased a fair amount since I graduated, so it…

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