Archive for April 2012
Our Fast Track To Financial Freedom
I spent most of my twenties paying off student loans and credit card debt. When I reached my thirties, my financial priorities shifted from paying down debt to saving for the future, with an eye towards financial freedom. We want to find the right balance between saving, investing and paying down our mortgage. After our…
Read MoreTurning 50: Some Things To Consider
When you get to your 50’s you’re probably in your peak earning years and you may have significantly lower living expenses. The expensive years of home purchase and parenthood are likely behind you and you’re in better financial shape. Think about how much of your income should go towards your retirement and contribute as much…
Read MorePros And Cons Of Waiting To Buy A Home
Home ownership is considered a rite of passage for most adults. Whether it’s a house or condo, people of all ages and stages in life want to own their own home. Currently, 2 out of every 3 Canadian households own the home they live in. The challenge for many Canadians is the cost of buying…
Read MoreHow To Manage Your Cash Flow
The start of a good financial plan is creating a family budget. When you review your income, chart your expenses and monitor your spending, you get a good idea of where your money is going. Whether you have an envelope cash system or use a spreadsheet format (or any other method), you can plan to…
Read More10 Fees That Are Worth The Money
Some fees just can’t be avoided, but that doesn’t mean every fee is designed to rip you off. You can feel good about paying fees when they provide enough benefit to justify the cost. Whether it saves you time, gives you peace of mind, or actually saves you money in the long run – in…
Read MoreDecoding Your Company Pension Plan
How much is your money earning inside your company pension plan? If you change jobs, can you take your contributions with you? Don’t know? Don’t feel bad. Most people are wildly ignorant about company pension plans. But that’s your money working in the plan. You owe it to yourself to find out what’s going on. …
Read MoreIs The Costco Executive Membership Worth Buying?
If you love shopping at Costco as much as I do, chances are you’ve been asked to upgrade to the Costco Executive Membership. I never thought we spent enough money at Costco to justify paying the additional membership fee. However, with a growing family to support, lately we’ve been spending a lot more money there.…
Read MoreWhy Baby Boomers Aren’t Prepared For Retirement
There’s been a lot of speculation recently about why baby boomers are so unprepared for retirement. It’s said that more than half do not have enough savings and will have to rely entirely on social programs that will be quite meager at best. Do we have to develop a taste for canned cat food? Why…
Read MoreDoes A Reverse Mortgage Make Sense For Seniors?
A reverse mortgage may sound like a good deal for cash strapped seniors. You can turn some of your home equity into cash without having to sell your house. The money you borrow is tax-free income, and you don’t need to make regular payments on the loan. Some financial experts advise seniors to avoid reverse…
Read MorePersonal Money Management
If a close relative left you $1,800,000 you’d spend a lot of time and pay a great deal of attention to the care and management of the inheritance, wouldn’t you? Well, this is what you can expect to earn during your working years if you average around $500 a week take-home pay for the first…
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