Too many times we find ourselves getting caught up in the Christmas spirit of shopping, shopping, and more shopping. Finding the gifts becomes our ultimate goal of the season – so much so that going into debt to buy the perfect present has almost become a norm in today’s society.
Many companies and industry experts today believe they know all the major risks of financial planning: longevity, inflation, withdrawal rates, asset allocation, and rising health costs. This may be true for those who are now retired, however we truly feel there is a greater risk for those who are not yet retired: The “Failure to plan” risk.
Advocis (The Financial Advisors Association of Canada) has teamed up with the Junior Achievement Program to educate students on Financial Literacy. This month, Scott went into a class of grade 8s to educate students on the keys to success.
Below is Scott’s favourite story:
I am thinking of buying a house. What can I do to secure a good mortgage rate?
While we are not mortgage specialists, we can offer a few ideas on how to improve your credit rating.
As we move into week 2 of Financial Literacy Month, we answer these popular questions...
How many credit cards should I have?
In our opinion – two. The first should be the one you use regularly, and pay off in full every month. The second one should be used in a certain emergency situation – when your first card become compromised and frozen.
It’s financial literacy month! We’ll be taking questions and answering them each week during November. If you have any questions, email them to us at firstname.lastname@example.org email@example.com
1. Should I be putting my extra money into a TFSA or RRSP?
I love podcasts. They turn any commute into a learning opportunity and when I get stuck in traffic, I don’t get upset because I am being entertained.
When you park downtown, you put money in the meter, right? Why do you do that? If you pay a little, you’ll avoid a possible big fine.
When you buy a shiny new phone, you buy a case for it, right? Why do you do that? If you pay for a little protection, you’ll avoid the possibility of dropping and breaking the expensive phone.
Halloween, Thanksgiving, Christmas – lots of holidays are coming up. While they are great for connecting with family, they may not be great for your wallet. Costumes, candy, turkeys, presents, and much, much more will be lining the shelves in stores just waiting to be purchased! So when you are out shopping, keep these 5 Trends in mind and avoid them at all costs:
After running some numbers, your mortgage broker explains that your monthly mortgage payment will be $598 bi-weekly. “I can afford that!” you think to yourself. But wait – there’s more!