Travelling can be too expensive, and it can sometimes go beyond one’s budget. A common choice people are left with is to take loans in order to obtain the money. However, traveling on loans has an important side effect of incurring debts. Piling up debts can force you to enroll in a debt settlement program.

There is good news, however! You can avoid the ‘traveling with debt’ hassle just by following a few simple tips: Read More…

What Is Leverage?

When you learn about leverage in school, it usually entails using a lever of some sort to move something heavier that you could not normally move without it. In personal finance terms, the concept is essentially the same: you use debt (other people’s money) as a lever to help do something you couldn’t do without it.

Simply put, it will amplify a gain or loss from an investment you make in something.

A Tried and True Example

The most common form of this in personal finance is 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…

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…

Debt is certainly nothing out of the ordinary and being someone who lives and breathes personal finance, one question I often get from friends and family is should I consolidate all my credit card balances, car loans, and any other debts, into a single consolidation loan?

The advice I always give in response is that consolidation can be a good idea, but two critical factors must be considered first. Read More…