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Being honest about your financial situation, getting help with your financial issues and taking steps to prevent them from happening again, can all go a long way towards alleviating stress and allowing you to move forward. Here are some financial relationship red flags to look out for. Read more ...
The start of a new year is a great time to think about preparing for retirement. RRSP contributions you make during January and February can be used in the current or previous tax year, wherever it’s most beneficial for you. But when retirement is looking over the horizon, any month is a good month to take an active interest in your money. Whether your nest egg has been growing for many years or you’ve just started thinking about what you need to do to retire, here are five tips to get you started: Read more...
What are the most popular goals for 2022? Unsurprisingly, fitness goals, weight loss, and healthier eating are some of the most common New Year’s resolutions. There’s nothing like a brand-new year to bring about some self reflection and self improvement. But in that first rush of post-holiday, “new year, new me” enthusiasm, it can be easy to overspend for what we perceive to be “a good cause.” Read more...
Moving through this “merry” month, you may be juggling a variety of holiday tasks and projects, but what about managing your Christmas and holiday stress levels? A recent survey from Angus Reid* reports that Canadians are feeling the holiday stress; half (53%) say this year feels more emotionally stressful than past holiday seasons. Meanwhile, 41% say this year feels more stressful than most financially. Read more . . .
Here it comes again, it’s the most
wonderful expensive time of the year! It’s no secret that as the holidays get closer our spending increases and having Christmas on a budget seems very unlikely. According to a recent report by Equifax*, credit card spending and consumer debt has gone up by almost 4% during this time, compared to pre-pandemic totals in 2019. Read more . . .
Few things are free in life, but thankfully, checking your full credit report is one of those things. Equifax Canada and TransUnion Canada, our official credit bureaus, each have their own version of your credit report. Other companies pull info from these reports when making decisions like whether to approve a credit application. If you haven’t checked your report before, here are 3 reasons why you should do so now for free. Read more . . .
Charitable organizations and the people they serve are extremely appreciative of the donations and support they receive. Most depend on fundraising and the generosity of the community. However, there can be times when donating financially isn’t possible, even if you have a longstanding commitment to doing that. If your financial situation worsened and you cut back on your expenses accordingly, it’s normal to feel guilty if a charity you’ve been supporting asks for more help. Although you may not be able to donate as much as you did before, there are still many ways to be generous and support the causes you believe in. Read more . . .
Wondering what’s the difference between a soft vs hard credit check in Canada? Put simply, a hard check affects your credit rating, but a soft check doesn’t. Also known as credit inquiries or credit pulls, these are a way for companies to see the info on your credit report. Of course, you can also check your own report. Read on to learn more about what makes a soft credit check and what makes a hard one. Learn more . . .
We all like to save money, but some tricks to save can actually cause costly money mistakes. You might have heard of this as being “penny wise pound foolish,” the origin of which comes from a quote in a 1600s book on melancholy. Having your efforts work against you can certainly feel discouraging! While there’s nothing wrong with counting pennies (or maybe nickels since we’re in Canada), seeing the big picture ensures you actually come out ahead. Read more . . .
Figuring out a single person grocery budget that’s good for your wallet and stomach can be tricky. While there are plenty of grocery shopping tips that work for any household, living alone has its own quirks. So how much should a single person budget for groceries? The average cost of food per month for one person in Canada used to range from $225-$250, but can be much higher now due to rising living costs. Here are 5 tips to help keep that cost down when you’re by yourself. Read more . . .