Personal Finance

Some fees just can’t be avoided, but that doesn’t mean every fee is designed to rip you off.  You can feel good about paying fees when they provide enough benefit to justify the cost. Whether it saves you time, gives you peace of mind, or actually saves you money in the long run – in…

If a close relative left you $1,800,000 you’d spend a lot of time and pay a great deal of attention to the care and management of the inheritance, wouldn’t you? Well, this is what you can expect to earn during your working years if you average around $500 a week take-home pay for the first…

As your life changes, so do your money needs.  The best way for you to save money, reduce your taxes, and get credit will depend on whether you’re just out of school, have extra income to invest or are planning for your children’s education. Here’s a money plan you can use every step of the…

Like most people, my first bank account was held at the financial institution my parents dealt with.  Once I was out on my own I just opened an account at a bank close to where I worked.  There wasn’t much choice – a plain chequing account (no fees at that time) and a savings account…

The cheapest way to acquire a car is to pay cash for it up front.  Unfortunately, paying for a car in its entirety is not an option for most young families.  The choice then comes down to financing or leasing a car. Let me start off by saying that young families shouldn’t be fooled by…

Natalie and Jessica want to save for their retirement.  Natalie began setting aside $100 a month when she was 23.  She continued doing so until she turned 31 and then stopped.  In nine years she invested $10,800. Jessica didn’t start saving until she turned 31.  That year, she invested $100 a month and she plans…

A is for Annuity:  An annuity provides a regular income of a fixed amount for the rest of your life, or an optional fixed time period.  A lifetime annuity would have been great when interest rates were around 12%, instead of the current rates of 2%. B is for Balanced Mutual Fund:  These funds invest…

Are you tired of your kids always asking for money?  Allowing kids to earn their own money can be a fun and prosperous venture even for the very young. Young adults who start their own business, or work in other employment, benefit from increased confidence, learning to take direction, time management and organizational skills as…

It may be selective memory, but I don’t remember having to pay any kind of fees in my younger days.  Now it seems that no matter what you buy, there’s a fee attached.  I will do anything possible to get out of paying fees – or at least minimize them. I hate bank fees My…

Pets play a major role in the lives of Canadians.  In fact the pet industry has topped $8.9 billion a year.  Not counting all the rabbits, parakeets and geckos out there, more than half of Canadian households (53%) own a cat or a dog with 13% owning both. Pets Are Considered Family Members An Ipsos…