Archive for December 2014
Top Financial Stories And Events Of 2014
2014 had some attention-grabbing financial stories that are no doubt being featured in most business news year-end recaps. Here are some random events that I found of interest. 1. Burger King gobbles up Tim Hortons Canadian’s beloved Tim Hortons chain agreed to a merger with Burger King creating the world’s third largest fast-food company –…
Read MoreNet Worth Update: 2014 Year-End Review
I like to take a snapshot of my finances twice a year in order to see how my financial plan is progressing and whether or not I’m meeting my goals. These net worth updates are encouraging because they reveal how the compounding power of savings and debt reduction add up over time. Related: Net Worth…
Read MoreWeekend Reading: Christmas Break Edition
With 2014 quickly winding down I wanted to publish one more edition of weekend reading before we break for Christmas. We hope you all have a relaxing and enjoyable Christmas holiday, and we’ll be back to our regular schedule the week of December 29th. Value of Simple Many investors recognize that Canada has the highest investing fees…
Read MoreWhen Stretching To Buy A Home Makes Financial Sense
The real estate market in Canada has been the subject of much opinion and speculation over the last five years as prices continue to rise to new heights. Houses are over-priced, but by how much? Should prospective buyers wait for a crash before jumping into the market, or should they get in now before they’re…
Read MoreHow Do You Define Affordability?
A TV commercial for a local credit union features people discussing finances at a “round table.” One man comments, “It depends on how you define affordability?” Huh?? Is it affordable? Tanya sees a great sale on a designer scarf for $200. This brand almost never goes on sale and she just has to have it.…
Read MoreFinancial Independence: Why I Pushed It Back Five Years
Last summer I thought I’d be financially free by 40. Reality – and unplanned expenses – set in this year and I’ve adjusted that ambitious projection by five years. I’m still on track to reach a net worth of $1 million by the time I turn 41, but financial independence will have to wait a…
Read MoreWeekend Reading: Christmas Handout Edition
Christmas is a time for giving, but how far does your generosity have to reach before it starts to impact your budget? MoneySense reached out to an etiquette expert to ask how much to tip everyone from your hairdresser and manicurist to your personal trainer and housekeeper. Enough is enough, according to Garry Marr, personal finance columnist at…
Read MoreDo You Need A Formal Budget Plan?
Standard advice from most financial planners is that it’s essential to create a budget to track all expenses. It’s the best way to figure out where your money is going and to rein in any unnecessary spending. 5 Reasons to budget It helps you gain control of your finances. It helps you to achieve your…
Read MoreWhat Are Your Financial Goals For Next Year?
Now that you’ve been through your year-end financial checklist, it’s time to look ahead to next year and set some financial goals. For some, a new year is a good opportunity to establish better habits, such as paying off credit card debt or creating (and sticking to) a budget, while for others a new year simply…
Read MoreWeekend Reading: Oil Slump Edition
No, I’m not talking about the Edmonton Oilers’ 11-game skid. Oil prices have collapsed some 40 percent since the summer and oil and gas stocks have taken a beating. Canadian Oil Sands – the same stock that prompted a reader to ask about leveraged investing – slashed its quarterly dividend from 35 cents to 20…
Read More