Archive for January 2017
Financial Planning For Couples – Estate Planning: You Can’t Take It With You
According to an Ipsos Reid poll commissioned by the CIBC, only 30% of Canadians have a formal estate plan in place. The reasons for not having one vary – some people think they are too young, or don’t have enough assets. Some believe that their belongings will automatically go to their spouse. Many couples think…
Read MoreWe’re Buying New Vehicles At A Record Pace, And It’s Killing Our Finances
The auto industry is thriving as Canadians bought 1.95 million new vehicles in 2016, the fourth consecutive record-setting year for automakers. Yet despite the robust sales figures some dealers already seem desperate to keep this new car buying binge going. For years we’ve been bombarded with 0% financing offers, cash back incentives, used car buy-backs,…
Read MoreWeekend Reading: Credit Card Trickery Edition
It’s rarely a good idea for a business to outsource its sales and promotional activities. Loblaws found this out the hard way when customers complained about the aggressive and sometimes shady tactics used by employees to coax them into signing up for PC Financial credit cards. The employees actually work for SDI Marketing, a firm hired…
Read MoreCan This Late Starter Get Her Retirement Goal On Track? A Boomer & Echo Financial Makeover
Is it possible to attain your retirement goal when the majority of your income producing years are behind you? It’s never too late to improve your financial situation. Profile Louise Gates (58) is the head of a marketing team for a small manufacturing company in Kelowna. After renting for most of her working life she…
Read MoreThe Case For A Universal Canadian Drug Program
A recent CBC the fifth estate report featured the current high cost of prescription drugs in Canada. A growing number of advocates (including CARP) would like to see a national drug program become a reality. Canada is the only country in the world that has a universal health care system that doesn’t include universal drug…
Read More5 Ways To Avoid Monthly Bank Fees
I’ve banked with TD my whole life but while I consider myself to be a fairly loyal customer that doesn’t mean I’ll blindly accept blatant fee grabs without fighting back. That’s exactly what happened two years ago when the big green bank announced changes to its chequing account fees and minimum balances. Their basic chequing…
Read MoreMillennials Don’t Get The Latte Factor
Financial author David Bach introduced the Latte Factor as a metaphor for all the small indulgences we regularly treat ourselves to that add up over time. It wasn’t meant to single-out Starbucks as the main culprit for our financial woes, but somehow millennials feel the need to stand up for their beloved coffeehouse and defend…
Read MoreHow To Invest Like A Pro
I began working in the financial services industry when I was 24 years old. A few – um – decades later, I feel I have learned a thing or two. However, like others who have been in a particular career for a length of time (I’m thinking here specifically of anyone who works with computer software,…
Read MoreHow To Think About Money: Book Review and Giveaway
I love a good personal finance book so when A Wealth of Common Sense blogger Ben Carlson mentioned that his favourite book of the year was Jonathan Clements’ How To Think About Money, I had to check it out. The book is full of common sense advice and financial wisdom, but Clements goes beyond the ubiquitous ‘pay yourself…
Read MoreWeekend Reading: You Know What Really Grinds My Gears Edition
Two Globe and Mail articles got my personal finance blood boiling this week. First up, a seemingly innocent article suggesting an advisor can help investors make sound decisions and stick to their plan. Nothing wrong with that. But read on and you’ll find this piece, which reads like a bad ad for money coaches, makes some baffling…
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