House poor in Canada: avoiding the trap of overspending on your home

What is the First Home Savings Account (FHSA)?

A First Home Savings Account (FHSA) is a savings account from the federal government. It allows individuals to save money for their first home purchase, providing tax benefits and other incentives to help them afford a home.

Pay Off Your Mortgage or Invest: What Does The Math Say?

Though you may be a proud homeowner, you probably don’t love the thought of having to make a mortgage payment each month for the next few decades. It can be easy to second guess yourself and think maybe there’s a better investment out there where your money could be growing faster and doing more for you. So what’s the right answer: Should you pay your mortgage early or invest your extra funds in the financial markets? Here’s what you should know to help you make a decision.

12 Best Tips to Spend Less at Christmas

As the festive cheer of the holiday season approaches, so does the challenge of managing expenses amidst merry-making. While December is often a whirlwind of joy and generosity, January can bring a stark contrast, with the looming concern of bills and the aftermath of holiday spending.

Teaching Kids About Money: How (and Why) We Save

How can we help young kids wrap their minds around saving and delayed gratification? Well, here’s a start. Learning delayed gratification as an adult can be tough. Teaching it to kids can be downright daunting. But it’s the heart of healthy financial habits – especially saving your money.

Investing

When the Dust Settles

t was not too long ago that COVID-19 was becoming a reality. Much was unknown but something in the air (no pun intended) told us that life as we knew it was about to change. Denial was quickly changing to anxiety and fear. This fear was quickly evident in our capital markets as the sellers came in and stock markets at home, and around the world, dropped into bear territory in record time. The news-makers were eager (dare I say gleeful) to tell everyone that we were in a recession with no end in sight.

Retirement

Think Monthly, Retire Rich

If you’re looking for a New Year’s resolution that is simple to stick to but yields some pretty powerful results, consider contributing to investments monthly and/or increasing your monthly contributions by a few dollars.