Did you know that November is Financial Literacy Month ?
This month, organizations from across the country are encouraged to host events and share resources to help Canadians learn how to better manage their personal finances. This year’s theme is “Take charge of your finances” and it’s aimed at encouraging Canadians to learn how to better manage
Having paid off the mortgage of our home 3 years ago, my husband and I were ready to purchase our first rental property this summer.
As the money coach, I was of course the one responsible for figuring out which price range we can afford and how it will affect our everyday finances.
One
Last month, I revealed 4 myths that keep people trapped in debt.
To quickly refresh your memory, here they are:
Myth #1 – The bank approved me so I must afford it
Myth #2 – I don’t need an emergency fund. That’s what my line of credit is for.
Myth #3 – I have to take advantage of
If you follow the financial news on a regular basis, you certainly heard about the most recent debt figure released by Statistics Canada: Household debt to disposable income hit 163.3% by the end of 2014. In plain English, it means that for every $100 of
In recent years, lenders have been consistently recommending the homeowner’s line of credit (HLOC) to consumers. On the surface, it looks like a great financial product since it gives homeowners quick access to their home equity at a low interest rate (3-4%). The line of credit can then be used for
Remember my post “The Good, the bad and the ugly…debt” ?
I mentionned at the end of it that I’ll write a follow-up article about how to attack your debt.
My plan was to discuss a debt repayment method called Debt Snowball, made famous by Dave Ramsey.
Well, instead of reinventing the wheel, I will refer you to this amazing summary of
The more I read about budgeting, the more I realize that it is far from being rocket science. It is plain common sense. So the question that I’m asking myself is why do so many people have trouble applying such a simple concept in their everyday life?
The analogy that comes to my mind when thinking
Have you ever wondered which debt should you pay off first?
That’s a question with many answers, and different financial experts have different opinions.
It depends on how much debt you are in.
Let’s start with the more extreme case of someone who is drowning in all kind of debts and is struggling to make ends meet. A
