Home / Investment / Tesla shares plunge 12% as investors wary of Elon Musk's Twitter plan – CBC News + MORE Apr 26th

Tesla shares plunge 12% as investors wary of Elon Musk's Twitter plan – CBC News + MORE Apr 26th

TSX getting you down? There are always sound investment alternatives.
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How to prepare your finances for coming to Canada + MORE Oct 27th

If you’re moving to Canada (or you’ve recently arrived), you’re probably learning new things about this country—including how our banking system works, how we handle our personal finances and how to find a place to live. The more you know about money, savings and buying a home in Canada, the.... More »

From being wired to spend to the emotional attachment to money, Shaun Maslyk unpacks how psychology can affect finances Jul 7th

If you listen to The Most Hated F Word podcast, you probably already feel like you know its host, Shaun Maslyk. (And if you haven’t yet listened to the pod, grab a set of earbuds—stat). Maslyk is not only a Certified Financial Planner, but also a certified financial behaviour specialist, with a .... More »
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Finding the financial balance in skin care routines + MORE Jul 11th

All about Canadian investments. Learn the ins and outs and get the latest news. Microsoft Can Close Its $75 Billion Buy of Activision Blizzard, Judge Rules - The Wall Street Journal - news.google.caMicrosoft Can Close Its $75 Billion Buy of Activision Blizzard, Judge Rules  The Wall.... More »

10 common crypto scams and how to avoid them + MORE Sep 16th

Cryptocurrency investing offers new and exciting opportunities, but it’s also rife with scams and tech-savvy con artists. And since the crypto space remains largely unregulated, it’s often difficult to distinguish between genuine investment opportunities and scams. In just the first half of 2.... More »
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3 financial goals to kick-start the new year Jan 16th

Over the holidays, many Canadians made new year’s resolutions related to their career, health and family. If you haven’t added any financial goals to your list, now is the perfect time. Let’s look at three things you can do that could significantly impact your financial well-being this year—.... More »
Tesla shares plunge 12% as investors wary of Elon Musk’s Twitter plan  CBC NewsTesla Is on Pace to Lose $100 Billion in One Day  BNNTesla loses $126 billion in one day  Financial PostTesla Stock Drop Wipes Out $126 Billion in One Day  Yahoo FinanceWhy Elon Musk Is Already $29 Billion Poorer Because He’s Buying Twitter  ForbesView Full coverage on Google News

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Understanding scarcity thinking can help remove the shame of financial difficulties

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A MoneySense reader writes:

Help! I cosigned a motorcycle loan and then the owner passed away. Can you explain what my obligations are to the bank? Will my credit rating be affected? What are my next steps? – Amber

What to know about cosigning a loan

Anytime you co-sign for a loan, you’re automatically entering into a financial obligation as if it was your own. 

In your case, depending on how the loan was structured, as the co-signer, you may or may not have the title to (legal ownership of) the motorcycle. You will need to check with your creditor to determine your level of responsibility.

As the other party to the loan has passed away, the lender will likely contact both you and the estate representative to make arrangements to ensure that loan payments continue to be made, as you are equally 100% responsible for the loan. 

As a result, I recommend that you work with the estate representative to discuss how they would like to proceed in paying out the debt as part of their responsibilities in settling the estate…

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