Archive for May 2016
From The Boomer & Echo Mailbag: Organizing Your Financial Documents
Q. How long should you keep your financial documents? A. Many of us become paperwork hoarders simply because we’re too afraid to toss anything out – what if we need that 2003 bank statement some day? The period after tax season is a perfect time to cull your files, toss out what’s not needed, and get…
Read MoreWant A Better Deal? Just Ask
When I worked in the hotel industry at the front desk we had a policy that allowed us to discount a room by up to $20 per night if we thought the guest would walk away from the hotel and go elsewhere. The truth is that I rarely had to rent a room for less than…
Read MoreWeekend Reading: Market Recovery Edition
The TSX had been in a bit of a funk since June 1st 2015 when it closed above 15,000 for the last time. Canada’s major stock market index reached its depths this January 19th when it finished the day at 11,843 – a drop of 21 percent from that June 1st high. Both my RRSP…
Read MorePersonal Finance Lessons: What To Avoid
People often ask me for tips on how to improve their finances and I’m always eager to help. But rather than focusing on mundane money saving tips or talking about where the stock market is headed, I prefer to share lessons on the kinds of products and services to avoid. By steering clear of these personal…
Read MoreFinancial Planning For Couples – First Things First: Establish A Budget
When you become a couple you become a team, and both of your actions and expectations will define your future life together. Your choices today will shape your tomorrows. Keeping in mind your financial priorities, it’s time to create a plan for your spending and saving. The first and most important step to achieving financial…
Read More3 Financial Priorities You Need To Address Now
It’s no secret that the roadmap to financial success starts with paying off debt, sticking to a budget, and saving for retirement. But there are other – not quite as sexy – financial priorities that often get overlooked when creating a financial plan. Indeed, I’m talking about the thrilling topic of building an emergency fund,…
Read MoreWeekend Reading: May Long Edition
May long weekend is traditionally for camping, gardening, or venturing out for some of the first outdoor activities of the summer. Unfortunately the weather hasn’t been kind to those of us in southern Alberta who were looking to spend some time outside enjoying the long weekend. So we’re staying indoors and fortunately there was plenty of great reading…
Read MoreWhy Does My Car Dealer Want To Buy Back My Car?
Last week I got a letter from our local car dealer (Hyundai) offering to buy our 2012 Sante Fe and giving out big incentives to purchase a new 2016 Hyundai vehicle. I recall opening a similar letter last year. It went something like this: We want to buy back your Sante Fe. As you…
Read MoreThe Sharing Economy
My condo comes with two large storage spaces. I only need one, so I am able to rent out the other. This type of personal rental method is decades old – from renting a spare bedroom to a university student, providing an unused garage to protect someone’s car, being an enterprising neighbour with a rototiller…
Read MoreConfessions Of A Rewards Credit Card Addict
It was all about practicality when I applied for my first rewards credit card and started using it to earn free groceries. After a while I “graduated” to a cash-back credit card, which paid a higher percentage back on grocery and gas spending. I liked the simplicity of funnelling my spending onto one no-fee cash…
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