Managing Money

Evaluating the Cost of Living in BC in Comparison to Other Provinces British Columbia (BC), with its majestic mountains, pristine coastlines, lush vineyards and forests, is undoubtedly a charming place to reside in. Yet, when considering a move to this stunning province, it’s essential to gauge the living costs. An old adage even jests that … Read more

Financial discipline is the cornerstone of long-term economic stability. With the escalating cost of living, it’s crucial to ensure that you’re well-prepared for unforeseen expenses. This is why 2019 should be the year you embrace the “Living Below Your Means” Challenge. An Overview “Living below your means” is a concept that extends beyond merely “living … Read more

Embracing the No-Spend Challenge: A Comprehensive Guide In today’s consumer-driven society, reigning in on your expenditures can be a robust challenge. Taking on the No-Spend Challenge can be an effective way to modify your spending habits, achieve your financial goals, and secure your fiscal future. This guide will walk you through everything you need to … Read more

Mastering the Art of Personal Finance: An In-depth Guide on Effective Planning and Management Financial management may seem like a daunting task for some, while others find it to be an exhilarating hobby. Regardless of which category you fall into, you can’t deny the importance of sound personal finance planning. It is the key to … Read more

Cease the Habit of Living Pay Cheque to Pay Cheque: A Comprehensive Guide to Regain Financial Control Living from pay cheque to pay cheque is a daunting reality for many individuals. An unexpected car repair, a sudden reduction in household income, or a major life event like divorce can thrust you into this unwelcome situation. … Read more

Navigating Finances: Strategies to Manage Money as a Couple with Debt or Income Disparity One of the greatest challenges that couples face is how to handle their finances, especially when there is a significant debt or income disparity. In such cases, it becomes crucial to find a way to manage money that is fair and … Read more

The Modern Youth and Financial Burden: Techniques to Evade Permanent Monetary Troubles The modern youth confront a broad array of financial problems that were largely unknown to the previous generation. Factors like skyrocketing living costs, expensive real estate, university fees, and costlier consumer goods are outpacing inflation. As a result, dreams like homeownership, clearing student … Read more

In today’s consumer society, it’s easy to fall into the trap of overspending. However, with some simple strategies and a little self-discipline, it’s possible to curb those extravagant impulses. Here are some practical, easy-to-implement tips to help you keep your spending in check. 1. Create a Shopping List One of the simplest ways to avoid … Read more

A Comprehensive Guide to the Six Tips for Living on an All-Cash Diet Living on an all-cash diet is an effective strategy to avoid debt and manage your finances responsibly. It requires discipline, planning, and a fundamental understanding of your financial habits. This guide will explore six essential tips that can help you transition to … Read more

Recessions are economic storms that can seemingly appear out of nowhere. While they may be daunting, understanding the dynamics of a recession and being prepared can help you navigate through these challenging times. In this article, we will discuss six tips to be financially prepared in case of a recession. Understanding a Recession A recession, … Read more

Should You Have a Joint Bank Account When Facing Bankruptcy in Canada? When encountering financial difficulties, the decision of whether to maintain a joint bank account can have significant implications. This article explores the different aspects to consider when contemplating this decision, particularly in the context of bankruptcy in Canada. 1. Establishing a New Bank … Read more

Pondering over the question, “Should You Pay Off Debt or Invest?” is not unusual, especially when you experience an unexpected financial windfall. This article encapsulates expert opinions, real-life experiences, and mathematical realities to help you make an informed decision. The Dilemma: Pay Off Debt or Invest To begin with, let’s understand this common financial dilemma. … Read more

In the world of personal finance, one question often arises among couples – Should Couples Have Separate Bank Accounts?. It is a complex matter, with no one-size-fits-all answer. Each couple’s financial situation and goals are unique, hence their approach towards banking should be personalized. Understanding the Concept of Joint Banking Marriage, in many ways, binds … Read more

Ensuring Financial Freedom As You Approach Retirement As we advance towards the golden years of retirement, one question often looms large: “Are you debt-free?” In the modern age, the use of credit for everything, from grocery shopping to vacations, has become a norm. However, this shift in spending habits has led to increased credit dependency … Read more

Pre Retirees: Don’t Rely Solely on CPP for Financial Security Financial planning is an essential part of everyone’s life, especially for those nearing retirement. In the current economic environment, it’s crucial that Canadians in particular do not rely solely on the Canada Pension Plan (CPP) to fund their retirement. Understanding the Current Economic Climate In … Read more

How to Identify & Avoid Unfair Loan Practices In the financial landscape, predatory lending is a concerning issue that affects many consumers, particularly those desperate for quick cash solutions. Predatory lenders exploit vulnerable borrowers, offering loans with exorbitant interest rates and hidden fees. This article will explore predatory lending, its warning signs, and how to … Read more

Are you pondering on whether to increase your credit card limit or carry out a balance transfer with convenience cheques? As an informed consumer, it’s imperative to understand the implications of these financial decisions on your overall financial health. 1. The Lure of Higher Credit Card Limits Financial institutions often shower praises on customers with … Read more

Power of Sale vs Foreclosure Explained: A Comprehensive Overview As a homeowner, understanding the intricacies of mortgage repayment and the potential ramifications of defaulting on your obligations is critical. Two primary outcomes loom over homeowners who fail to meet their mortgage obligations: Power of Sale and Foreclosure. While these terms may seem interchangeable, they represent … Read more

Personal Money Management Tips for Long-Term Financial Stability Personal money management is a skill that can lead to financial freedom, and it requires dedication and a long-term vision. Vincent Lombardi, a renowned football coach, once said, “the only place success comes before work is in the dictionary.” This statement is true for personal finance too. … Read more