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MyMoneyCoach Blog

Welcome to the MyMoneyCoach.ca blog where we share our best strategies and information to help you make smarter choices with your money. If you're coming back for an older article, you can find it here.

How to Pay Debt Off Quickly - Proper Budgeting Tips for Paying Down Debt

Accelerate your monthly debt payments to help you pay off your debt a lot faster.Have you hit a brick wall trying to find the best or fast way how to pay off debt quickly? Rather than getting more and more frustrated, take bold steps that will get you moving towards your goal again.

It’s like riding a bike – to keep your balance, just peddle forwards. But while we go for bike rides with friends or family, we don’t typically ask them to join us as we figure out how to budget and pay off debt. That’s where taking bold steps comes in; curious what that might mean? Learn more...

Fastest Ways to Save Money for a Down Payment on a Home

The fastest ways to save money for a house in Canada.Urban areas in some of Canada’s most popular cities have a serious rental shortage. Couple that with attractive lending rates for home owners to do renovations and builders and developers to build countless new homes, coming up with money for a down payment on a home of their own has become a top priority for many young adults.

Saving for a down-payment is as much psychological as it is financial. There are any number of ways that we CAN save money, but adjusting our mindset and lifestyle expectations is the difference between “trying to save” and “actually saving.”

With that in mind, if home ownership is your goal, here are steps to take to make it a reality as quickly as possible.

Debunking 5 Credit Myths and What to Do Instead

Dispelling myths about credit reports and credit scores in Canada.The credit reporting system is one of the biggest mysteries for consumers when it comes to personal finance topics. In fact, we regularly get a lot questions about how personal credit ratings work. The credit rating system is complex, but it can be easily understood by every day Canadians who want to find out where they stand. If you’ve heard some things about credit that concern or trouble you or perhaps you’re wondering about your own credit situation, to help separate fact from fiction, here are five of the most common credit myths debunked and explained.

How to Take Control of Your Finances While in College, University, or Post-Secondary Trades or Technical School

Create a student budget, apply for scholarships & awards, graduate without debt & money stress.

Is your post-secondary financial stress as bad as your exam stress? Many college, university, and post-secondary students find their pockets feeling quite empty by the time second term or second year roll around. Saving up enough money working during high school or in the summers isn’t always possible. And you might not have an RESP (Registered Education Savings Plan) to fall back on. This guest post is full of tips about what you can do to manage your funding and your finances successfully, and even graduate debt free. She did it, and so can you! Here's how...

Tips to Reduce Financial Stress and Cope Better

How to reduce financial stress.Everyone feels the effects of financial stress differently and sometimes the signs of being stressed are easier to identify than the true cause of the stress. However, regardless of the cause, there are steps you can take to calm a financial storm and cope better. Keep your worries at bay by focusing on what you can do, rather than on what seems out of your control. Read on for things you can do to regain control of your finances….

7 Smart Money Moves for 2018

Smart things to do with your money in 2018.Is 2018 the year you are going to get your finances on track once and for all? You can’t change the past, so reflect on what you did well – and plan how to do more of it. Don’t worry about what someone else’s financial situation may look like, ignore the highlight reels shared through social media and focus on what you can do to reach your goals. Here’s how to get started….

5 Reasons Why I Wrote a Financial Literacy & Money Management Book for Children

Three Little Piggy Banks, Financial Literacy & Money Management book for ChildrenGuest post by author Pamela George

Financial literacy, also known as money management, has gotten a bad rap over the years; most people think of financial literacy as boring and complicated, and “budget” has become the dreaded “B” word. However, my opinion of financial literacy differs. I have found that when we are in control of our finances, it can feel very freeing.

Whether you are 'yea' or ‘nay’ regarding financial literacy, I believe everyone would agree that we all need to learn how to manage our money. And if we start learning as children, it becomes a hard habit to break. I wrote Three Little Piggy Banks - Financial Literacy for Children, with this in mind.

From the author herself, here are 5 reasons why she wrote a book to help educate children about managing their money...

9 Smart Money Moves to Make in Your 20's

Smart money moves to make in your 20's; budget, earn interest, pay off debt.If you’re a 20-something, having paid even a bit of attention to your money and personal finances over the past decade, you likely gained some valuable insights. You’re now standing on the cusp of making some of the smartest money moves of your life. And those of you who should have paid a bit more attention than you did, count yourselves fortunate that due to the unprecedented economic times of the past 10 years, a lot more attention is being paid to increasing the financial literacy of Canadians. The information is out there, free for the taking, if you’re ready for it.

Taking steps sooner than later to manage your financial affairs will not only set you up for success later in life, it will help protect your hopes, dreams and goals when life throws you a curveball. When you’re in your 20’s you have time on your side. This is such a huge advantage when it comes to personal finances and planning ahead financially....

6 Tips to Help You Shop for a New or Used Car Like a Pro

Decide when the best time to buy a new or used car is by calculating your budget, loan payments & vehicle expenses.Replacing your vehicle with a good used car or buying a new car is always a big decision, often the second biggest one, behind a house, that most people make. However, many of us will spend more time planning a family holiday than worrying about the wheels we want to buy. While we might think of our car as an asset, by the end of a car loan a new vehicle is often worth much less than what we paid for it, so it’s absolutely worth getting the best deal you can right up front.

Here are 6 tips to help you car shop like a pro....

Smart Back-to-School Shopping Tips That Can Save You Money

Smart back to school shopping tips to save money & stick to your budget.

There’s no shortage of smart back-to-school shopping tips for 2017 when you look online. From blogs to Facebook posts, back to school shopping articles in the news, Pins and other social shares. But if you’re looking for more ideas to save money, or new ideas to make back to school shopping easier on your finances, here are a few tips that won’t work for everyone, but are still worth considering...