When to prioritize debt repayment over saving Nov 9th

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Should retirees speculate? + MORE Nov 16th

All investors need to know the difference between investing and speculation—often summed up as what you do with “serious money” versus “fun money”—and that’s doubly true for those at or near retirement. While investing is about building wealth you can count on, speculating typically me.... More »
In an earlier story, we introduced you to Lindsay Tithecott, a 29-year-old who is trying to pay down debt, build up savings and buy a larger condo. To help her get her finances in tip top shape, we gave her a series of financial challenges, including a rethink of her budget-busting fitness classes. This challenge involves budget basics. 
Calculating how much you can afford to save and invest
We asked Lindsay to redo her budget, starting with annual disposable income.
To determine this, she took pay stubs from both her full-time job and her part-time job, and did the following:
1. Calculated what she earns gross annually from both jobs, then deduct income taxes, EI, CPP, Disability insurance payments, etc. from that amount to get her total net income.
2. Subtracted the $2,880 RRSP contribution that her employer matches dollar for dollar at work from her net income calculated above to determine how much is left.
What Lindsay learned, in her own words
I’m so glad I did this challenge and the timing was great for me…

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