We all want financial security, but, wow, it sure does seem like a long way off to most of us, doesn’t it?

It’s hard to stay focused on such a distant goal, so I like to create mental milestones to reach, which are easier to get to and give some sense of satisfaction along the road to financial security.  It’s just breaking the larger goal up into more manageable chunks.

Here are the stages to ensure your financial security: Read More…

With all the talk these days of impending high inflation, I find my thoughts turning to ways that I can reduce or avoid the impact of this, if it does indeed happen.  In many cases, it just isn’t possible to avoid the effects of inflation, but where there are ways to do so, I can show you how to go about it.

Let’s look at some common expenses most Canadians have and see what can be done to protect yourself. Read More…

Congratulations! You’re off to college, where you’ll spend your savings and end up in the biggest debt you’ve ever seen. But you can graduate from university with cash in your pocket and a healthy financial future if you follow some simple, easy rules. Read More…

When you break down the idea of investing to its basic purpose, you’ll find that it’s not just taking your extra money and hoping to earn a decent return from it .

Investing, in essence, is simply something that you do to ensure that your future cash needs are met.  Usually that entails “squirreling” money away for future use, but it can also take the form of spending now to save later.

If you can spend some of your savings now that will result in a cut to your living costs by a certain amount, then that cost savings is equivalent to a return on your investment.  Done wisely, you can earn a return that is tax free, low risk, and higher than you could earn for equivalent risk traditional investments. Read More…

Here’s an idea you likely won’t ever hear elsewhere…consider not buying a home until you have enough cash to pay for it outright.

You heard that right.  Yes, it would take you many years to do so, but if your personal situation and risk tolerance suits it, this could add a boost to your net worth in the long run.

Some may feel that this is unattainable. Fear not: there is a way that you can get the full amount! Read More…

The Canadian dollar has seen a sharp spike up in recent months, as we’re seeing it get closer to par again. That means opportunities to save money!

Some of these opportunities will happen automatically, as in lower prices on goods you buy that are imported into the country, lower prices on some foods, etc.  Others you will have to think about and decide if it’s worth it for you to explore.

Here’s some ideas to consider: Read More…

We’ve discussed many tips on using TFSAs to improve your cash flow and here are two more important tips to maximize your cash flow, courtesy of CanadianTaxMan, a tax specialist himself. Read More…