Life

smart money habits for millennials

7 Smart Money Habits for Millennials

I fall into the upper age bracket of the millennial category so I always find it fascinating when I see money reports about this age demographic. I wish I book marked all the different reports but I remember one headline saying that millennials aren’t saving as much as boomers did, while another said that they…

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What do you really know about money?

What do You Really Know About Money?

We’re quickly approaching the end of Financial Literacy Month in Canada so hopefully you’ve been taking the time to learn more about your money. If not, what has been stopping you? Many people out there believe that they’re doing just fine with their money, so there’s no need to learn more, but what do you really…

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toxic people

5 Toxic People to Cut From Your Life

Keeping up with the Joneses is one of the most popular terms for personal finance writers. It’s a pretty overused term, but it really drives the point across. If you’re unfamiliar with the term it basically refers to when you want to have the same expensive things as your friends or neighbours (the Joneses). The belief…

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What the middle class can't afford anymore

What the Middle Class Can’t Afford Anymore

In an alarming trend, the Canadian middle class seems to be struggling. Gone are the days of a dual income household being able to comfortable afford a home, kids, and retirement. Replaced now by heavy debt loads and limited savings, but what exactly is considered middle class? Generally speaking middle class households earn anywhere from $60,000-$90,000…

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Managing Your Money in Your 20’s

If you’re in your 20’s, what you do with your money now could have a lasting impact on your financial future. Hopefully you’ve already accepted and come to terms with the money truths, so it’s time to start getting serious about managing your money. It might seem intimidating at first, but trust me, managing your…

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do immigrant children have it easier?

Are Immigrant Children Better off?

Last week BMO released a New Canadian Study where they found more than half of immigrant parents believe their children will be better off in Canada. As a child of immigrant parents, there’s no arguing that my life is significantly better here in Canada. Having free healthcare alone makes Canada great, and there’s no denying that…

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Take advantage of free government money with RESPs

Parents Don’t Like Free Government Money

Canadian parents don’t like free government money. 47% of parents have yet to open a Registered Education Savings Plan (RESP) according to a new survey by the Chartered Professional Accountants of Canada. An RESP is easily the best way to save for your child’s education since the money is tax-free, and the government offers a Canadian…

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TFSA Questions From New Grads

Tax Free Savings Accounts (TFSA) have been around since 2009 yet many people still don’t quite get how they work. The Canadian Revenue Agency does a good job explaining tax free savings accounts on their website, so I’m going to focus on answering some common TFSA questions that new grads have. When should I open up a…

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Joint Bank Accounts

We’ve all had the family finances talk and we’re still alive right?  Good lets move onto one aspect of our finances that affects all of us. Joint bank accounts! Setting up joint accounts are important but so is having individual accounts so each of us still retains a bit of financial independence. The following is…

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