Getting control of your finances can be an overwhelming task. Start by implementing these 10 strategies into your routine and by making small changes on a daily basis, you'll start to notice changes.
The moment that your first professional paycheck enters your bank account can be a euphoric experience. Finally you can trade in those frozen pizzas and microwavable popcorn for some real food! However, this new cash flow can also be overwhelming - post-university life comes with a host of additional financial and social responsibilities.
These are the obstacles we all face in trying to achieve our financial goals:
Let’s be honest – insurance is not always a fun topic to think about or discuss. But before closing this window and going back to Reddit or Facebook, hear me out. Even if it’s not fun, the insurance discussion is an important one to have, especially if you have someone that relies on your income.
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.
The decision to go forward with your plans to start a family is a joyous one, but it can also lead to increased stress especially if your financial house has not been child-proofed. Considering that, on average, the cost of raising a child now exceeds $250,000, there’s little margin for error for most young families that have other important financial goals to achieve.
Few consumer products are the object of a love/hate relationship as life insurance. The thought of buying life insurance is not something that most like to think about, yet, if it is done right, it can provide the greatest peace-of-mind a person can have. The key is to do it right.
Did you just read the title of this blog and laugh out loud?
It probably surprises you as much as it does our clients when we tell them they need $1,000,000 of term life insurance. When you factor the income you earn and what your family would miss out on if you pass away prematurely, then add in the time value of money, you might be worth more than you think.
We’re living longer – that’s a fact. As our life expectancy increases, many individuals have moved their planning focus from dying too soon to living too long. Fewer Canadians are buying life insurance; approximately only 43% of Canadians had a policy in 2013, according to LIMRA.
Actual Story #1