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Category Archives: Budgeting

Financial Literacy: The Key to Financial Well-Being

What does it mean to have good financial literacy? Being financially literate means having the knowledge to make decisions that will positively impact your financial health. As noted in the Relation between Financial Literacy, Financial Wellbeing and Financial Concerns, “the higher your financial literacy the greater your financial well-being.” Tracking spending, budgeting, saving, and borrowing responsibly are typical behaviours that characterize people of high financial literacy. Here we’ll go over how these behaviours affect financial literacy and thus, financial well being.

Controlling Your Finances With a Budget

Budgeting is a tool that can help you better understand your financial … Read More >

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Is Your Car Payment Preventing You From Getting Ahead?

Not too long ago, the average car loan was amortized for five years, never longer. But, somewhere between the American financial crisis and today, car loans can now be amortized for significantly longer. In fact, according to an article written by CBC News, “More than half of all new car loans are currently financed for 84 months — seven years — or longer.”

Furthermore, according to data from J.D. Power, between 2010 and 2015 the average monthly car payment rose from $522 to $542. Not only are Canadians extending their repayment terms but they are also choosing more expensive … Read More >

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Debt Freedom 56

Before rushing into my usual tirade about banks doing surveys and leaving the impression their findings are indisputable facts, I just loved the reference quote in the article in the Vancouver Sun  today about a boomer who lived through double-digit interest rates in the 1980s and over the years missed more than one naïve financial goal.

Yes. How many naïve financial goals are we still being subjected to?

I have recently researched the top selling personal finance books and suddenly realized that pretty much all of them make the roadway to wealth and retirement sound far too easy.

Dave Ramsey, … Read More >

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How Using Coupons Blew My Budget (Coupon Fail)

Coupon fail! How using coupons blew my budget - and how you can avoid my mistake!

By Courtney @ Women & Money Inc.

The other night I received $20 worth of coupons to use at a local restaurant, with no restrictions.

We had never been to this restaurant before so I checked out the website to read the menu, which had a variety of tasty sounding dishes as well as kid’s meals, but no prices listed. My husband and I didn’t have a dinner planned for that night, so we thought we’d pack up the kids and have a cheap dinner out.… Read More >

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5 Reasons You Didn’t Reach Your Financial Goals Last Year