I have said this here before, but it is always a good reminder. “The more convenient it is to make payments, the more we spend.” On August 4th, Preet Banerjee wrote an article in the Globe and Mail entitled “Paying by tap? New research suggests contactless payment leaves us out of touch with our spending.” […]
To recap last week’s topic, saving is putting money in a place where there is no risk of loss, investing is putting money in a place where you have a risk of loss, but a calculated risk, and gambling is putting money where you will either lose big or win big. Some people who invest […]
Just to recap, over the last few weeks I have discussed controlling your finances—from tips to control your spending, keeping control of our currency, to controlling your borrowing. What about controlling how we build our wealth? Building our wealth is good but I don’t want you to take my word for it, take it from […]
Read More… from Building Your Wealth: What Makes Sense for You?
The last couple of weeks I have been speaking about controlling your money. From using cash for day-to-day expenses, to avoiding digital currencies. Many Canadians don’t realize that they can take control of their borrowing as well. For example, when it comes to most people’s largest borrowing, our mortgage, we defer all the decisions to […]
Last week I wrote about the benefits of using cash for our day-to-day purchases. As mentioned, studies have shown that we tend to spend 17% less by using cash than by using credit or debit cards. Unfortunately, the Bank of Canada is currently exploring the creation of a Digital Canadian Dollar. At this time the […]
With the first long weekend of the summer upon us, I thought I would share a secret that will keep 17% more money in your wallet AND make it easier for you to keep looking slim and trim and keep that summer bikini beach body. Sound good? This may sound too good to be true, […]
After last week’s post about being careful who you get financial advice from, here are four things to look for when deciding who to get financial advice from: 1. Competence and Professionalism. The quickest and easiest way to identify their competence and professionalism is their industry designations. This tells you if they have taken the time and spent […]
We are coming to the end of tax season. Are you excited about getting a tax refund? Most Canadians are because they feel good that they are getting something for nothing, and the refund cheques are often used to buy treats or luxuries. Consider that getting a tax refund is just you giving an interest […]
The way I see it, Canadian’s are not taking full advantage of their entitlements to create a comfortable and secure retirement. How are you supposed to have your dream retirement if you don’t plan for it? I am a firm believer that you should have multiple streams of income throughout your lifetime, including retirement, as […]