How to go about securing the best savings strategy in Canada.
At this time of year, it seems like the financial world is awash with information on what is a Registered Retirement Savings Plan (RRSP), the benefits of having one, and how to start one. But there are still a few planning points that Canadians either aren’t aware of or don’t know how to fully .... More »
If 2019 is the year you promised to stop your bad spending habits in their tracks and ensure your savings go untouched, then maybe the old proverb “failing to plan is planning to fail” hits home for you. But what about the things that don’t make it into the plan? You know, those expenses tha.... More »
Growing up, I thought I always had a knack for being financially responsible. My parents constantly lectured me about the importance of spending within my means and saving from a young age, so I would be careful not to spend too much while out with friends, and would throw a few dollars in my savings account here and there.
But as I got older and more expenses kept popping up – phone bills, car payments and maintenance, and insurance, to name a few – the more I realized there is a lot I don’t know about managing money. Moreover, 2018 was a rollercoaster of a year; a lot happened in my life and my bank account was definitely affected.
Sound familiar? If you’re a young adult, you probably understand that turning point when life starts coming at you – fast. And sometimes these growing pains can take a toll on your wallet, that is, until you learn your financial lesson.
Here are three important financial lessons I learned in 2018:
Lesson #1: Your emotions can really mess up your finances
Perhaps one of the most important lessons I learned in 2018 is how emotions can lead to impulse decisions…