Smart-phones are less of an option these days and more of an extension of everyday life. Your phone is there for you when you need to know the weather, connect with your friends and colleagues, and when you just have to post that perfect Instagram of yesterday’s brunch. So it’s really no surprise that financial technology, or FinTech for those in the know, is having a major boom right now, developing some pretty incredible apps...
If you’re a fan of political dramas on televisions, you’ll know that the turbulent world of politics has an effect on the global financial markets. But what about in real life? How much does art - if you can call shows like Scandal, Veep, and House of Cards art - imitate life, and vice versa? The truth of the matter is that 2017 has turned out to be a bit of an unpredictable political year...
In a few short years, it seems as though the banking industry has revolutionized. It is now easier (and more convenient than ever) to tend to your banking needs, all from the comforts of your pyjamas. Gone are the notions of banking hours, and the never ending lineups when you want to deposit your paycheque. However, if you’re anything like my parents, some of the newer online banking options seem a little too good to...
Millennials get a lot of flak from the baby boomers and Gen X, but the truth of the matter is millennials are some of the most driven individuals when it comes to investing. Most millennials work hard and are looking for financial advice on how to save and get ahead in a seemingly volatile market. So, naturally, millennials need financial advice too, and here is why. Financial Literacy Although many millennials are aware of the...
If you’re just starting to take charge of your financial future, it can be stressful approaching financial planning with confidence. Do you ever talk to your bank or financial manager and think that they’re speaking a foreign language? Between acronyms, money talk, and words longer than my arm, it’s no wonder that sometimes going to the bank is similar to going to the dentist - but hopefully it’s not as painful. Here are a few...
Remember your mid-twenties when retirement seemed like a lifetime away, and living paycheque to paycheque was your reality? ‘If only I knew then what I know now’ can be heard echoing throughout offices in banks around the country. So we’re here to heed that warning and help you understand the magic of compound interest in long-term savings, before it’s too late. Most financial professionals want to get across the importance of saving early, as it...
From the moment you apply for that first credit card or loan and your credit history commences, financial institutes and lenders will eagerly track your credit score. This score impacts almost every facet of Canadians' lives - it determines your ability to rent an apartment, buy your own home or vehicle, and qualify for loans at reasonable interest rates. In certain circumstances it can even determine future employment opportunities! Despite the massive ramifications of this...
When John recently lost his wife Betty to cancer, their children were surprised to find out that neither John nor Betty had life insurance. As a result, the children ended up paying the cost of the funeral, and John, currently on a fixed income, is left contemplating whether he can afford to stay in the home they had lived in for over 25 years. An untimely death can have a major financial impact on those...
Are you ready to start investing? Investing in the stock market can be particularly rewarding, but not without risk. If you’re particularly risk averse, you may want to consider another method of investing, or start the investment process slowly. This can also be true for older potential investors who do not have the time or inclination to wait out a downswing on a stock. But if you’re fresh out of college, or younger than 40...
So your landlord has checked your references, received your damage deposit, and given a move-in date - you can finally breathe a sigh of relief as you move into your new place! After weeks of setting up new accounts, finding furniture, packing and unpacking, there is one last question that remains… do you want to purchase tenant’s insurance? Surprisingly, over half of Canadians renting property do not have insurance. That is in stark contrast to...
For many early 20-somethings that are freshly graduated and are now facing credit card and loan bills, the last thing on their mind is investments. Your new job can just about cover rent and groceries but the limitless pocket money of your youth is now a distant memory. Granted, saving for retirement may be a far fetched idea with the mountain of immediate payments piling up; however this does not mean that young Canadians should...
The moment that your first professional paycheck enters your bank account can be a euphoric experience. Finally you can trade in those frozen pizzas and microwavable popcorn for some real food! However, this new cash flow can also be overwhelming - post-university life comes with a host of additional financial and social responsibilities. Although your freshly funded bank account may be displaying numbers you didn’t think existed a few years ago, don’t be fooled into...