Smart financial decisions small business owners should make now Jul 27th

The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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Investment Strategy in Inflationary Times Jul 30th

The volatile market and the inflationary times! What more is required to cause extreme annoyance to an investor? In this period of recessionary trends, inflation has turned out to be a decisive factor in share markets. The extent of rise in the inflationary trends will determine the future course of.... More »

Canadians are losing sleep over COVID-19 financial stress. A financial therapist gives us tips on how to be at ‘peace with money’ in a pandemic Jul 29th

“We live in a world where we've got propaganda that tells us that more is better all the time, we never actually cultivate that real trust and peace with money,” says Brenda St. Louis, a Vancouver-based money coach.... More »

Which savings plans should a 37-year-old with a military disability income contribute to, and when? Jul 28th

Q. I am 37 with a military disability income that will pay monthly until I die. Could you give your advice on which savings plans I should be investing in, and the order in which I should make my investments? To date, I contribute to my and my spouse’s registered disability savings plan (RDSP), th.... More »

Is the 4% Rule obsolete? Jul 31st

Over the half decade I’ve written this column and attempted to practice what it preaches, a central pillar has been the so-called 4% Rule. As originally postulated by Certified Financial Planner and author William Bengen, that’s the rule of thumb that retirees can safely withdraw 4% of the value.... More »

Making sense of the markets this week: August 3 Aug 1st

Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors. Gold outshines itself Gold stole the headlines this week. That can happen when an infamous asset takes out its previous all-time highs.  Last Sunday, gold made another push a.... More »
Smart financial decisions small business owners should make now
In partnership with Surex
Rule number one of being an entrepreneur: When things get tough, keep going. The COVID-19 pandemic has brought to the surface many worst-case scenarios for small business owners. They’ve lost revenue, laid off staff, and some have even had to close their business permanently. Still, there are ways to ensure the financial future of your business looks bright. Here are some actions you can take right now.
Set up an emergency fund
Saving for unforeseen emergencies isn’t just for personal finances. COVID-19 has shown us the importance of businesses doing it, too. Emergency funds are necessary to cover financial fluctuations in your business, such as a slow period, unexpected tax payments, economic changes, or all of the above. Unfortunately, not all businesses make this a priority. “It’s an afterthought. Businesses don’t consciously maintain an emergency fund because they’re more focused on growth or investment,” says Viren Parmar, financial adviser for the Toronto-based firm Karma Financial…

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