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Financial Planning

Is It Worth Purchasing a Car on Finance Alone?

January 16th, 2015

I just got a new job and need to buy a car to commute. Fortunately, I have enough saved to be able to buy either a used car or a new car on finance. The used car would cost considerably less, is the new car worth buying? The answer depends on whether you prefer to … READ MORE

Pitfalls and Strategies for a New Investor

January 16th, 2015

I have only recently come into enough money to begin investing, how can I avoid the pitfalls that a new investor might fall into and what kind of strategies do you recommend for a new investor? Knowing what strategies to use and avoiding pitfalls for a new investor does not need to be difficult. The … READ MORE

Flat vs. Variable Finance Rates

January 16th, 2015

My husband and I plan to buy a house in the next few months and I would like to know the difference between flat vs. variable finance rates. Choosing between flat vs variable finance rates can be a crucial part in any major purchase such as a house or an automobile. Prevailing interest rates and … READ MORE

RRSP vs. TFSA

December 31st, 2014

Both a Registered Retirement Savings Plan (RRSP) and a Tax Free Savings Account (TFSA) are very useful tax efficient investment tools that exist in Canada. The Canadian Revenue Agency (CRA) has created unique tax rules for each tool to encourage Canadian residents to save for their future. This article will help provide you with a … READ MORE

Foreclosure vs. Short Sale

December 31st, 2014

In some circumstances homeowners can find themselves in a difficult position when it comes to their mortgage, whether they are struggling to make payments or the value of the mortgage exceeds that of the actual home. Two processes that commonly take place in these cases are a foreclosure or a short sale. This article will … READ MORE

Remarriage in Retirement: 5 Tips

December 29th, 2014

Results of a recent poll shows that 57 percent of widowed and divorced adults have remarried and that today, more people are willing to tie the knot again compared to 50 years ago. Because of higher divorce rates and the aging of population, there is a growing number of widows and widowers available to remarry. … READ MORE

Living Trust vs. Will

December 3rd, 2014

When planning for the inevitable many individuals will come across the living trust vs. will decision in terms of how they plan on their assets being distributed and utilized after their death. There are many things to consider in how to utilize a living trust and a will effectively to ensure that your intentions are … READ MORE

Credit Card vs. Debit Card

December 3rd, 2014

We all have them in our wallets, using them every day to pay for things without actually handing over physical cash. Credit cards and debit cards are both methods to make payment electronically, but there are significant differences in how they operate. Understanding those differences is important and can influence you decision on whether to … READ MORE

Subsidized Loan vs. Unsubsidized Loan

December 1st, 2014

When approaching higher education, figuring out how to finance it can be a major consideration for many individuals. The Federal government, via the Department of Education, provides subsidized and unsubsidized loans to eligible students, at participating schools, funding the post-secondary education of many people. This guide will provide you with what you need to know … READ MORE

ETF vs. Mutual Fund

November 20th, 2014

When approaching investing your savings the options available to you can be pretty overwhelming, especially with some investment products appearing to be the same. Exchange Traded Funds (ETF) and Mutual Funds are very similar investment products, but with some key differences that can have an impact on your taxes and your ability to buy and … READ MORE

8 Tips for Raising Money Smart Kids

June 13th, 2014

Teaching kids about money can be a challenge as keeping them interested can be a challenge. The topic of money can come off as boring, if not done properly. This means that time needs to be taken to show your young kids how to be smart with money. Personal finance is something that young kids … READ MORE

10 Best Free Business Accounting Software For Freelancers And Small Businesses

April 24th, 2014

Are you a freelancer or small business owner looking for an application that can help you with everyday accounting tasks? If so, you will surely benefit from business accounting software that you can readily download for free. To help you out on which application to use, we have listed ten of the popular choices available: … READ MORE

Debunking Four Myths of Bankruptcy

April 3rd, 2014

Filing a bankruptcy can feel like stepping into a big bad world of blame, lacks and desperation. True, a bankruptcy is a grave moment in our lives, true the pinch of not having enough money or no money is harsh, but it is not something we can go beyond. Life moves on even after a … READ MORE

Do You Think Too Much About Your Money?

February 19th, 2014

Who doesn’t want to be good looking and rich? But too much obsession with your money is just as bad as too much obsession with your diet. Taking any obsession to the extreme may result in what experts call obsessive compulsive disorder. Many people suffer from the problem of keeping their minds too occupied with … READ MORE

Why Improving Your Credit Score May Be a Wise Resolution for 2014

February 19th, 2014

To many, it may appear that Americans are as addicted to credit as they are to their favorite latte, and the lending and credit industry has reaped the benefits, especially from those who have less-than-a-great credit score. One aspect of this fact appears to be changing based upon a recent announcement by federal regulators. The … READ MORE

Traditional IRA vs. Roth IRA

November 22nd, 2013

After deciding to invest in an IRA (Individual Retirement Account) you further have to make the distinction as to whether you want to invest in a Roth IRA or a Traditional IRA. These two investment vehicles have very different tax implications so considering your specific circumstances is important. Traditional IRAs: These offer the benefit of … READ MORE

IRA vs. Roth IRA

November 22nd, 2013

When choosing to invest in an IRA (Individual Retirement Account) itâ s important to distinguish between the types of IRA that you want to invest in. The common IRA vehicles are the traditional IRA and the Roth IRA. Traditional IRAs: These offer the benefit of allowing you to deduct the contributions you make now from … READ MORE

What Does an Actuarial Analyst Do?

November 22nd, 2013

Many companies are awash in various finance types who summarize and present all sorts of financial information. Large corporations and companies in certain industries (insurance, financial sector, accounting firms) commonly have another role in finance for actuarial analysis. So what do actuarial analysts do? The actuarial analyst is a role typically used in a company … READ MORE

Assets vs. Liabilities

November 22nd, 2013

Business discussions with your company accountant will almost certainly end up involving comments about either assets or liabilities, and if you’re lucky both! Assets are what the company owns and liabilities are what the company owes, easy. If we count everything in the office and then add up all our unpaid bills we know all … READ MORE

How to Make Money with Money

November 22nd, 2013

It will come as no shock to most that the best way to make money is with money. The more money you have, the more additional money you can generate with that through investing and putting your money to work for you. Getting Started To get started you need money, how else are you going … READ MORE