How do I beat inflation? Everyone wants to know these days, with the quickly increasing costs of food, energy, rent, used cars, and consumer goods front and centre in our minds. Add on weather-related disasters, supply chain disruptions, and record money printing and deficit spending by governments, and inflationary pressures look downright scary. Since the middle of 2020, living costs…
Tag: cash
Welcome to tags! Here you will find all the relevant blog posts and content tagged with or discussing the term “cash”.
Money News – July 2021
Personal Finance in the News – July 2021: Welcome to Money News – July 2021! Noteworthy news this month includes record low variable mortgage rates, tax efficient giving to adult children, and Canada’s expanded workers benefits. Read: Just when you thought mortgage rates couldn’t get any lower, they go ahead and do just that. Earlier this month, Ratehub.ca reported the…
Annual Financial Review and Goal Setting
As the year draws to a close, I have started my annual financial review and goal setting process for the year ahead. This is an important step in any financial planning. For me, the exercise helps me determine where my family’s finances stand and if adjustments are needed. It also gives me a clear picture of our current accounts and…
Money News – November 2020
Personal Finance in the News – November 2020: Welcome to Money News – November 2020! I have five noteworthy topics for you this month. Read & Watch: Not all is doom and gloom out there in this Coronavirus pandemic. Canadians are sitting on a record $90 billion in cash according to this BNN-Bloomberg article. The Household Savings Rate has also…
Make the Most of Your Investments
Introduction How do you make the most of your investments? Once you’ve mastered the basics, this is the next big question. In my experience, there are four main areas to consider to maximize your investments. This is true regardless of whether you’re a DIY investor or working with a financial advisor. In this article, we’ll take a look at all…
Money News – July 2020
Personal Finance in the News – July 2020: Here’s a summary of Money News – July 2020: Read & Watch: Last month I wrote about a nationwide coin shortage in America. Turns out the Americans are not alone! Here at home, there is a shortage of $50 bills as Canadians hoard them. This may not be a bad thing though…
Money News – June 2020
Personal Finance in the News – June 2020: Here’s a summary of June 2020’s Money News: Read & Watch: CMCH is tightening mortgage rules for homebuyers. Credit scores are becoming more important and debt service ratios are becoming more conservative – therefore more mortgage conservatism may be a good idea given the debt loads out there. For more on that…
Liquid Net Worth
Liquid net worth is an unfamiliar term for most people. Many know about net worth, but few understand liquid net worth, what it means, and why it is important. This article will explore the term and unpack its usefulness. What is liquid net worth and how is it calculated? While net worth measures the value of all the assets you…
Money News – May 2020
Personal Finance in the News – May 2020: Here is a summary of May 2020’s Money News. This time around, topics that grabbed my attention included mortgage deferrals, COVID-19 scams, and changes in consumer behaviour. Read & Watch: Canadians are falling victim to a variety of new COVID-19 scams. These articles by BNN-Bloomberg, CBC, and Richmond News detail the common…
Preparing your finances for a second wave and a new normal
Have you been preparing your finances for a second wave and a new normal? A lot of people are returning to work or are starting to receive government aid, and this has more than few people wondering “What should I do with my money now?” Even if you’ve been lucky enough to keep your job, answering this question is important.…
Personal Finance and the COVID-19 Coronavirus
Introduction: COVID-19 is a real wake up call for how we should be managing our finances. Aside from the health impacts, COVID-19 may result in real financial hardship for many. Quarantines, school closures, and lockdowns could result in lost time at work and reduced incomes. In the bigger picture, employers may be forced to lay off workers and reduce staff.…
Why I Always Carry Cash
Learning the Hard Way: Why do I always carry cash? Way back when, in my first year of university, I was on my way home for Thanksgiving. It was my first trip after starting my undergrad. At the time, I was at school on Vancouver Island, and was taking a ferry back to Vancouver. Getting to the ferry using my…
Seven Financial Rules I Live By
Personal finance can be complicated. For me, I’ve found that simplicity serves me best. Here are some of the basic financial rules I use with my money: 1. Budget & Track Your Spending No matter what your finances are like today, they’ll probably be better if you start tracking spending each month and building a budget. This will let you…