Personal Finance

Fraud is the number one crime against older Canadians – hitting as many as one in five seniors – according to bankrate.com. People over the age of 65 are especially vulnerable to fraudulent schemes for a number of reasons: They often live alone and are home most of the day to answer the phone and…

My mom and I have written more than 1,000 articles on personal finance and investing over the last three-and-a-half years.  The articles speak, for the most part, to the general “you” but aim to make readers think about their own finances and how it can apply to them.  We receive countless emails from our readers…

Many of our financial decisions involve complicated math that can be tough to decode on our own.  Fortunately there are plenty of financial resources and tools available online that can help us make sense of even the most complex scenarios. I went looking for the best online financial resources, calculators, and tools to help Canadians…

A former colleague stumbled upon this blog recently and sent an email asking for some guidance on his financial situation.  David (name has been changed) works in the public sector in Alberta and is a married father of three young children.  Here’s what he wrote: I am one of those folks who abhors debt of…

Many of us suffer from financial inertia because we can’t seem to find the time or desire to deal with our money problems.  We put off decisions that, with some careful planning and research, could save us hundreds of dollars per year. So what if I told you that you could save $1,000 or more…

My favourite chapter from David Chilton’s, The Wealthy Barber Returns, is the one where he offers four words of advice to someone who was spending too much money going out with friends.  Chilton said, “Sometimes when people ask you to do something, you’ll have to reply, ‘I can’t afford it.’” It sounds so simple, but…

Preparing a budget is a very basic element in a financially ordered life.  It enables you to monitor your spending and become more conscious of where your money goes. But a survey done jointly by Brigham Young University and Emory Business School surprisingly found that consumers with a budgeted amount for goods are likely to…

A survey done by Capital One Canada showed that one-third of respondents admit their financial plans include a future injection of good luck, either by receiving a large inheritance (10%) or by winning the lottery (18%). Surveys like this have been done from time-to-time for several decades and it continues to surprise me that, even…

The money makeover profiles in the Globe & Mail, MoneySense magazine, and the Toronto Star are designed to give readers a peek into the life and finances of real families dealing with real money problems.  But more often than not the articles feature high income earning couples who just want to know if they can…

Many people turn to the Internet for personal finance advice these days.  From blogs to online forums to social media sites, there’s no shortage of great (and some dubious) personal finance information being shared online. Here are four online communities I visit daily to catch up on the latest in personal finance and investing news,…