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.
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HomeSubscription Costs: The Silent Spender & How to Stop the Damage
Are subscription costs the reason why you’re spending a lot more money than you expect every month? Recurring payments for phone plans, gym memberships, and streaming services are silent expenses that can slip through even the most careful budgets. Here are 3 ways to save a lot of money by improving your subscriptions game. Read more . . .
How to Plan for Homeownership During Difficult Times
The landscape for Canadian homeowners and buyers has shifted over the past few years. More Canadians than ever are motivated to become first time buyers due to the rising costs of renting suitable homes. However, rising property values and new stress test conditions imposed by the federal government for mortgage financing have made it more difficult to enter the real estate market. Read more . . .
#LearnWithCCS: 5 Money Tips from Readers About Personal Finances
In June 2020, we asked readers across all of our social media channels for money tips that resonated with them. This was done as part of #LearnWithCCS, where readers enter a monthly $50 gift card draw by learning more about personal finance with us and sharing their tips. After receiving plenty of great budgeting strategies, shopping hacks, and more, we’ve picked 5 to highlight for you. Read more . . .
Why Credit Card Balance Protection Insurance Isn’t Worth It
While getting balance protection insurance for credit cards can help you be prepared for hard times, it’s usually not worth it. Not only are you paying too much for too little, but there’s a much better way to keep yourself financially stable in an emergency. Here’s what you should know before getting credit card balance protection insurance.
3 Tips to Help Teenagers Learn Money Management Skills
Learning money management skills will help teenagers be financially successful when they grow up, but many parents find this a big hurdle to jump over. They might feel uncomfortable exposing the family budget, find it hard to get their teens to care, or be unsure of their own money skills. Here are 3 tips for teaching teenagers the money management skills they need for the future. Read more . . .
Are You Missing Out If You Don’t Have a Credit Card?
These days, it seems like everyone has a credit card. If you’ve never used one before or got into trouble with debt, then you might wonder if you’re missing out by sticking to cash and debit. While there are benefits to having a credit card that make it a useful tool, there are also risks. Weigh the pros and cons to decide if you need one.
Clean Up, Declutter, and Stop Spending Impulsively with Kakeibo: the Japanese Art of Saving Money
Could your finances use some decluttering? Kakeibo (pronounced kah-keh-boh) translates to “household financial ledger” and is a simple, gimmick-free method for budgeting and money management. Considering how stressful managing money is for many people, a back-to-the-basics approach to budgeting can be very helpful. Here’s how it works.
3 Tips to Manage Video Game Costs
Spending on gaming has never been more complicated than it is today. Depending on how enthusiastic you are about getting the latest technology and most jaw-dropping experiences, video games range from being an extremely cheap to an extremely expensive hobby. However, the vast variety of games available today means that there’s something for everyone. Here are 3 tips to help you shop like a smart gamer. Read more . . .
Looking for Great Deals? Resist the Urge to Buy Impulsively
There's more to getting the best deals than shopping for sale and clearance items. Product discounts, whether they’re presented through in-store events or online bargains, are designed to tempt you into spending an ever-increasing amount of money. Avoid impulse spending by looking out for your budget and bottom line, not a retailer’s. Read more . . .
Plan Ahead to Avoid the Baby (Budget) Blues
A brand-new person is always cause for joy, celebration, and spending. Lots of spending. For first-time parents or care-givers, making a big splash for a little bundle is almost irresistible. While it may be tempting to splurge when it comes to a new baby, that can lead to a lot of unnecessary spending. Check out these tips to learn how to celebrate a baby while staying on budget. Read more . . .