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…

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…

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…

Do you run your own unincorporated business?

If so, you may be a candidate for cash damming, a tax reduction technique that could potentially save you lots of money.  Read More…

With the real estate market finally taking a breather, it’s time to start considering investing again.  Prices would still have to come down a fair bit in many areas for it to be worthwhile, but other areas are depressed and decent investments can be had already. Read More…

Along with the stock markets and the general economy, mortgage rates have been plunging as well.  Central banks are lowering rates to try and stimulate the economy, so that those of us with mortgages have a potential opportunity to save money.

It’s Renewal Time…What To Do?

If you’re up for renewal soon, it’s even easier Read More…