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Are YOU Ready for the Holiday Spending Season?

There’s no doubt about it - this is one of the most expensive times of year! From gifts under the tree and a huge meal on the table (not to mention logging some serious miles on the road to visit Grandma), the average Canadian can expect to shell out big bucks to afford the holiday season. Read more…

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Building wealth: reduced spending and income growth – the perfect one-two combo!

In the world of boxing, the one-two combo is a nickname for the winning combo of the jab and cross. Well, when it comes to building your family’s wealth, there’s a winning financial knockout that works just as successfully. It’s the winning combo of reducing your spending and increasing your income in your budget and net worth statement. Read more…

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Budgeting: time to look real close at what’s inside the piggy

As we have discussed in our previous articles, budgeting is a team sport where you have to make sure everyone’s on board with how important it is and what the rewards will be for everyone if the team succeeds (pay off mortgage, trip to Whistler, new car, etc.). You want to win the cup – together! Read more…

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Your finances: crystal clear or a little hazy?

Most of us attempt a budget exercise when we’re feeling a financial crunch and decide it’s time to get serious about where all our money is going. Sound familiar? Then again there are some people who do sit down and formally account for every penny they’ve got coming in and going out. If you happen to be one of these lucky people, then reading our recent articles will just help to reinforce your efforts and give you the confidence to know you’re on the right track. Read more…

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Budgeting: a team sport

Unfortunately, when it comes to our income and spending decisions (paying bills, banking, and making the financial decisions, etc.), more often than not, we’re on our own – when in reality budgeting should be a team sport. And typically this unfortunate arrangement places all of the financial stress and burden squarely on the shoulders of only one team member, when as is the case in many households, two people are typically earning and spending. Read more…

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Your Net Worth Statement: the financial equivalent of a Swiss Army knife

There are lots of financial writers, advisors and experts that all tell us we need to complete a Net Worth Statement. And while some of them even tell us why we should do it (to find out where you are financially today!), they never really explain how we should use it to help guide our financial decisions. Read more…

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Wow, nice house! They must be rich!

We all know people that live in big, beautiful (expensive) homes, drive gorgeous (expensive) cars, travel to exotic (expensive) destinations, and send their children to prestigious (expensive) private schools. They must be rich! Read more…

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Having trouble saving? You’re not alone.

We all need to learn how to save. It is different today from our parents’ day. But we’ve all gone off the rails a little bit too with our spending, and according to the stats, many of us just aren’t saving enough. Read more…

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76% of Canadians must be idiots when it comes to saving and planning for retirement!

According to Statistics Canada, 76% of Canadians don’t contribute to an RRSP! That’s right – 76%! And that’s with 9.6 million baby boomers on the verge of retirement! And what’s worse, the 24% contributing to an RRSP only made median contributions of $2,830.00. (The median = the point at which half of contributors contributed more than $2,830, and half contribute less than $2,830.) Read more…

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Financial Security = Budgeting + Financial Planning

We all want financial security. We all want to make enough money to support our lifestyles, raise and educate our children, save for a wonderful retirement, and have fun along the way. So to achieve it all, what will help you more – having a financial plan or a budget? The answer is both! Read more…

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Financial planning: how to spot a marketing tool

In Canada, there are well over 18,000 individuals qualified to call themselves Financial Planners and thousands more can call themselves Financial Advisors, Financial Consultants and Investment Advisors - without any set qualifications. When we look at the financial planning world and the individuals preparing plans, the overwhelming majority of these individuals are working as commissioned sales people or on salary and bonus where almost every one of them have sales targets set by their employers. The majority of financial companies (banks, life insurance companies, brokerage firms, etc.) operate on such a sales business model. Read more…

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