We always hear something like ‘Renting is throwing away money’ and ‘Paying Rent is like paying somebody else mortgage’. Is Renting really wasting money?
Compound Interest has three main factors. Money you can invest per month, return percentage and number of months you can stay invested. This post explains why systematic investment plan wins in the longterm.
This post defines Active & Passive investments and Compare them to find which is best for long term investment. Why fees play crucial role in your long term returns?
Regardless of what the names say both TFSA and RRSP is for retirement planning. Considered them as buckets, You can store variety of instruments in them ranging from simple Savings Account , GICs, ETFs, Bonds and Mutual funds.
It is not wise to talk about Financial MLMs and not talk about the products they sell. There are tens of thousands of insurance associates who are part of one MLM or other. Almost all of them will sell you a Wholelife Insurance.
Many don’t invest regularly not because of lack of money but because banks, advisors has made a image that investing is complex and need expert guidance. In this post, we are going to see 1. When to Invest, 2. What to Invest in, 3. When to Sell
Important part of any financial planning is paying off your debts. Regardless of how hard you work or how much you earn, Interest on your debt will eat away most of it.
These are seven of frequently made mistakes of investing. I have made almost all these mistakes and I learnt from it. But life is short for you to attempt to make all these mistakes yourself. We need to learn from other mistakes.
Everyone needs a written budget regardless of whether you are living paycheck to paycheck, have a good emergency fund or rich. Budget helps you realize where your hard earned money is draining.
It’s the fund you can dip into in case sudden unexpected expense such as Car breakdown, Appliance repair or Medical expenses not covered by your insurance. It also covers your day-to-day expenses in case of job loss.
Do you look forward to tax filing season to get lump sump money from CRA? Learn how to reduce tax deducted from your paycheck by submitting the form T1213 to CRA.
Rich dad poor dad is a great book to learn about personal finance. Even though it gives a good start to teach yourself about assets and liabilities, It doesn’t give you practical steps to take in you. For that, I recommend ‘The Total Money Makeover’ by Dave Ramsay. He lists the following 7 steps to achieve financial success