Working from anywhere: Tax implications and other watch-outs In response to the COVID-19 pandemic, employers have embraced an environment where employees work from home. With the opportunity to work from home, some Canadians are taking the opportunity to work from anywhere. For some, that means working from the cottage or working from a foreign location. Before you switch from working...
Intro When it comes to managing your personal finances, paying someone else to decide where to put your money may feel counter-intuitive. After all, who knows and understands your financial needs and goals better than you? Well, the truth is that a financial professional is far better suited to the task. Hiring a financial professional could be one of the...
For some a car is simply a means of getting from point A to point B; for others it’s a status symbol. Cars are a hobby, a passion, for some and necessity for others, but whatever your level of affinity toward automobiles is, there comes a time where just about everyone needs to start shopping for a new (or used) one; but, don’t run down to the local dealership just yet.
You’re 25 and feeling alive. You’re settling into life after university, paying off your debts and slowly figuring how to “adult”. But with the responsibility of bills, rent, and even keeping up social appearances, prioritizing financial planning is something far too often pushed to the side. Of course the nagging idea that maybe starting an RRSP might not be the...
Andrew Bay |
Credit scores are Canadian’s financial identity - it is the three digit number that informs future lenders, creditors, or employers how financially responsible an individual is. This score will dictate a person’s ability to rent an apartment, buy their own home or vehicle, and qualify for loans at reasonable interest rates. Despite being such a pivotal part of determining Canadian’s...
Andrew Bay |
Let’s talk about the elephant in the room that gets swept under the rug all too often when discussing our finances: personal debt. Our bills for borrowing can suddenly rack up as we establish new lines of credit and loans. A 2017 poll conducted by Ipsos noted that Canadians with any amount of debt averaged $15,473 of consumer debt1. That...
If you have woken up in the middle of the night to a money-related panic attack, do not worry - you are not alone. It is natural for us to worry about our financial situation as it dictates so many facets of our everyday life. Nevertheless, financial stress is a big deal and needs to be addressed. Money driven anxiety...
Andrew Bay |
While it may not seem so, there are a lot of painless ways to save money. Not just for those who have a limited cash flow, but also for those with plenty of surplus cash who will appreciate ways to cut back on monetary waste. Here are just a few things you can do to save: 1. Use cashback rewards...
Andrew Bay |
Time certainly goes by fast. One day you’re interviewing for your first job and the next thing you know you’re a few short years from applying for Old Age Security. If you’ve planned for your retirement, you’ll likely have a good stash of funds saved. But the unfortunate news is that according to the ​Insured Retirement Institute,​ 42 percent of...
Andrew Bay |
We all have our own unique relationship with money. We certainly have our own unique way of both spending and saving money. However, if you’re ready to start putting some money aside, or looking for tips on money management, or even the best way to pay your bills, the following tips may provide a little bit of help: Keep track...