Personal Finance

Have you received an inheritance? Are you a lucky lottery winner? Maybe you gained a sizeable amount from the sale of property or a business, or received severance pay? Do you know what to do with your windfall? There are many reports of fortunes squandered by people dipping too quickly or liberally into their windfalls.…

Determining your financial priorities is like having a battle between your present and future self. Decisions that make your present-self happy and content might have dire consequences for your future-self. Conversely, you don’t want to torture your present-self for the chance to be happy and prosperous in the distant future. We’re raising a young family and with…

When you prepared your budget did you account for only your basic necessities with all the remainder earmarked for saving? This kind of budget may be doable for a couple of months but probably not much longer. Living on a budget does not have to be the rigid “straight-jacket” you may assume it to be.…

For years Canada’s big banks have walked all over their retail customers without fear of repercussion. They’ve raised account fees and hiked minimum balance thresholds at will, invented new charges for moving our money around, and generally nickel-and-dimed us to death just because they can. Related: 10 fees you can avoid Banks get away with…

Have you ever moved and forgotten about an old bank account? The Bank of Canada holds about $532 million dollars of unclaimed money dating back to 1900. Where does the money come from? Bank of Canada unclaimed balances are Canadian dollar deposits or negotiable instrument that were held at a bank or trust company. They…

Many of our common beliefs about money come from rules of thumb that have been passed down from previous generations. Old adages, such as pay yourself first and spend less than you earn, have stood the test of time. Other ideas, however, don’t hold up as well today, or were flat-out wrong to begin with.…

This week, Toronto area residents will be treated to a “unique opportunity” to learn how to grow their personal wealth by buying and selling real estate. Participants in this free workshop will discover the ingredients for success in real estate, sources of money to fund investments, locating deals in the hidden market, and creating multiple…

From bills to receipts, warranties and junk mail, we all need a system to toss what we don’t need, manage what we might need and be able to retrieve something when necessary.

I’ve written about personal finance and investing for the past five years and over that time received countless emails from readers asking for financial advice about their unique situation. That’s why last year we started a fee-only planning service after recognizing the glaring need for unbiased and objective financial advice in Canada. As far as I know, I’m the only…

When it comes to retaining customers, few businesses have had it easier than Canada’s big six banks. According to a 2014 Google consumer survey, just 14 percent of Canadians changed banks in the past year. This type of sticky relationship is due in part to inertia – many of us become customers for life after…