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How to start saving for retirement

Wednesday, September 13, 2017

Most Canadians start thinking about their retirement early, but not necessarily about how they can afford it. When it comes to saving money, arguably the most important factor is premeditation. Consciously putting aside a percentage of your pay cheque or another specific amount each month is an excellent way to start growing your retirement fund—ideally, your actual RRSP. Saving tends to go hand in hand with budgeting because placing limitations on your everyday spending will certainly increase your likelihood of having leftover finances to tuck away for the future. 

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How to cover the costs for your education

Thursday, August 31, 2017

Education is crucial to most Canadians’ success, but unfortunately, not everyone can manage the inevitable expense that comes with it. Some individuals may qualify for financial aid if they are unable to cover their tuition, but there are specific factors involved. Normally, being eligible requires a minimum grade average that demonstrates being a quality student. Building up an RESP or obtaining student loans are additional options to help fund your education. 

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What are the signs of financial abuse and what to do about it

Tuesday, August 15, 2017

The subject of financial abuse may not be addressed often, but it is more common than many people realize. Unfortunately, it often goes unnoticed as the victims either do not notice the abuse themselves or have been too weakened to do anything about it. Spouses in relationships, victimized by their partners, and elderly individuals, victimized by their own family members or others, are most likely to suffer in these cases. 

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Latest trends and statistics about Canadian credit card usage

Friday, July 07, 2017

As the economic climate and consumers’ financial habits continue to shift, experts are finding that active credit card accounts are actually declining. But just because individuals are cutting back on the number of cards they are using to make purchases, does not mean they are reducing their credit usage altogether. In fact, despite the trend of obtaining fewer cards, consumers are actually accumulating more debt on the accounts they already have in the process. 

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Leaving debt for your children and grandchildren

Friday, June 30, 2017

Current and future government debt
Despite some hopeful sentiments currently being spouted in the political arena, many experts say that leaving the next generation with significant debt in British Columbia is inevitable. This conclusion takes into account current consumer debt across the province, which is expected to reach almost $80 billion in the next few years. As consumer debt across Canada has risen steadily, Vancouver and other cities have certainly followed suit and it falls on taxpayers to worry about this―both now and down the road. 

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The impacts of paying only the monthly minimum on credit cards

Tuesday, June 27, 2017

Credit cards provide a great deal of comfort to consumers who would otherwise struggle with paying medium to large sums of money upfront for their purchases. Using a credit card delays the actual payment with the idea of a temporary loan from your financial institutions and the expectation that you will pay back the money later on. Your monthly credit card statements are your deadline to pay it back without earning interest. 

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Effects of Increased Gas Prices on Personal Budgeting and Debt

Friday, June 16, 2017

Rising gas prices have seemed to become a natural part of life. And just like the inflated housing market, it is very difficult to avoid if you drive a vehicle (or need somewhere to live). Unfortunately, these needs have become two of the most expensive aspects of day-to-day life. But they also affect almost everyone because shelter and transportation are so important. High expenses can lead practically anyone who is already struggling with their finances to require debt help and even face potential bankruptcy in Vancouver

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How Increased Canadian Business Investing can affect Personal Debt

Friday, June 09, 2017

Now that the significant dip in oil prices that occurred three years ago has been mostly rectified, businesses are apparently gaining more confidence in the market. That means that many companies are looking to make investments and more than half plan to hire more employees to work for them in 2017 than they have since the dip first occurred. This factor, coupled with a rise in energy and the positive impact of the lower Canadian dollar when it comes to trading and attracting tourists, means a probable boost in the economy that businesses have been craving. 

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The Importance of Saving for Emergency Funds: are you ready for life’s unexpected turns?

Monday, June 05, 2017

Life’s little unexpected expenses aren’t always so little. Emergency dental surgery, urgent roof repairs and a busted transmission are all expenses that’ll easily cost you thousands of dollars. But most costly of all may be an unexpected job loss. An emergency fund can prevent you from being forced to take out costly loans, dip into retirement savings or rely on high-interest credit cards to get you through the rough patch. 

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