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Why Do I Get Different Credit Scores from Different Websites in Canada? + MORE Dec 4th
Have you received a different credit score from a credit monitoring website than you did when applying for a car loan or mortgage? This isn’t just surprising for you: it’s a likely result. Canadians can use several free credit report sites to monitor their credit; they can also pay for .... More »
12 top personal finance books to read this summer Jun 11th
For obvious reasons, a lot of personal finance and retirement books come my way and, from time to time, we’ve dedicated a particular edition of this column to a single book. This one looks at a dozen noteworthy books I’ve read lately, or plan to—most of them published in the last few years.
If.... More »
Attawapiskat: Re-examining a community through photos Mar 31st
Home to the Swampy Cree First Nations people, the rural Canadian community of Attawapiskat in Ontario reached a tragic tipping point in 2016. Nestled on the winding banks of the Attawapiskat river, the town of approximately 2,000 residents declared a formal state of emergency in response to an overw.... More »
What to consider if you still have RRSP contribution room Jan 25th
Registered retirement savings plans (RRSPs) have been around since 1957, and each February is commonly referred to as “RRSP season.” The banks and financial media used to make a bigger deal about RRSPs in the new year, but ever since Tax-Free Savings Accounts (TFSAs) were introduced in 2009, RRS.... More »
US banking giants pledge $30bn to prop up First Republic Bank - Al Jazeera English + MORE Mar 16th
US banking giants pledge $30bn to prop up First Republic Bank Al Jazeera EnglishBig banks create $30B rescue package for First Republic - Business News Castanet.netSeveral big U.S. banks come to the rescue of First Republic Bank CBC NewsFirst Republic Shares Whipsaw .... More »
How to Actually Stick to Your Financial Resolutions
– ratesupermarket.ca
By: Barry Choi
I love the New Year; it’s a fresh start for all of us and the perfect time to set up our goals for the year. Many people are looking to make a positive change in their lives and have set up New Year’s resolutions. For most people, unfortunately, they’ll break them by the time Valentine’s Day rolls around.
As you can imagine, financial resolutions are very popular. Everyone wants to spend less, save more, and pay down debt, but that’s easier said than done. When our credit card bills arrive in January, many of us are left scrambling to pay off our holiday spending, while trying to meet our new saving goals – a recipe for disaster. Here are some tips to help make sure we stay on track.
Set Specific Goals
The biggest problem with any New Year’s resolution is that they usually aren’t specific enough. Let’s take a look at what spending resolution Canadians made in a recent survey from CPA Canada.
Pay down debt – 61%
Follow a budget for spending – 61%
Save more retirement – 52%
Save for the 2016 holiday season – 29%
Save for their children’s education – 25%
For these types of surveys they have to generalize, but as individuals we need to establish specific and realistic goals…
A majority of Canadians remain confident about their finances heading into 2016, but the percentage holding a positive view is down from a year ago, according to a new poll from one of the country’s big banks.
