There is a little more to budgeting than good financial advice. You need to have the money. The recent Conference Board of Canada report suggests that Canada’s social fabric is being torn by rising income inequality and stagnant child poverty rates. It appears that our child poverty rate is up 20% since the mid 1990s….
By Margaret H Johnson T’is the season to be… uh, um, jolly…. worried, maybe even frightened? At the end of February, we are pressured to make some important financial decisions. One of the first is: “Do we pay down our debt or save on our taxes?”
It’s interesting to see an article this week about women still being marginalized in Canadian boardrooms on the eve of the International Women’s Day March 8th celebrations that acknowledge the social, political and economic achievements made by women. Their theme this year: Inspiring Change.
By Margaret H Johnson The old joke about the sure things in life used to refer to death and taxes. I think we need to add consumer debt to this list. Certainly if one considers the irrefutable fact that Canadians have borrowed more and more money, each and every year – from $20 billion in…
By Margaret H. Johnson Last week I tried to talk about the various experts involved in debt collection and credit counselling. You know what? I forgot all about credit reporting agencies, otherwise known as Credit Bureaus.
By Margaret H. Johnson It is with a heavy heart that I read in the Vancouver Sun today about a financial adviser who targeted as many as 484 investors, many of them seniors, in an investment scheme alleged by the BC Securities Commission to have been premised on fraud and misrepresentations.
By Margaret H. Johnson This is going to be a very interesting year, indeed. Only ten days in and we see a story about debt. That’s different. The story ran in the Globe and Mail about Canada’s excessive debt and how that has made the rest of the world wary about our dollar, our plunging…
By Margaret H Johnson If you are like me, you grew up knowing that hobbies are activities that you do that can bring fulfillment, joy, inspiration, and a sense of pride. Whether that hobby is playing sports, reading, learning an instrument, running, volunteering with animals, crocheting – whatever it is – hobbies bring out the…
By Margaret H. Johnson I have worried for the longest time about credit ratings. There are many good reasons for my fears. To begin with credit ratings are based solely on mathematics – the days in arrears. You are judged in a moral way by being labeled with a good or bad rating. The reason…
By Margaret H. Johnson Yesterday the boiling hot news of the day was a 25% interest bearing car loan to a BC couple. The story involved the TD bank and a family that had gone bankrupt recently. It raises a number of troublesome questions.
By Margaret H. Johnson Even though you may be feeling that it’s ‘too late’ to start saving for Christmas now, what are your other options? If you answered ‘credit cards,’ you aren’t alone. It’s easy for the majority of Canadians to fall into the debt trap, but do you really want to start the new…
By Margaret H. Johnson I heard my first Christmas carol of the year about two weeks ago. And you know what? I’m still not in the Christmas mood yet. In fact, I’m not ready for any bells ringing or children singing or, bah humbug, a partridge in a pear tree.
By Margaret H. Johnson Lots of media attention to a Royal Bank poll that discovered that a quarter of Canadians appear to be debt free. They reported that for those who do have personal debt the average debt load has jumped up to $15,920, a $2779 increase from a year ago.
By Margaret H. Johnson A friend of mine just told me a horrifying story. His daughter has been on a disability pension for less than a year and she’s already been cut off once for missing an appointment with a doctor because she could not arrange for babysitting for her two young children, both under…
By Margaret H. Johnson Now let me clarify the title right away. It‘s a pun, my friends, a play on, “Keep it Simple Stupid”. Because, there is nothing simple about debt. People and governments keep underestimating its complexity. For example, the recent amendments to the Statute of Limitations that reduce the period of time to…
The CRTC (Canadian Radio-television and Telecommunications Commission) unveiled new rules for cell phone contracts in Canada. The rules allow cell phone customers to walk away from their contracts after two years without any early-cancellation penalties. If applicable, they will only be required to pay the remaining balance on their device tied to the contract. Read the…
By Luann Lasalle In the event of death, can a child inherit parent debt along with assets? {Click here to view the original article published in the Canadian Press on Jun 14, 2013. } The death of a parent can sometimes mean financial turmoil for surviving relatives, but advisers say that lingering debts aren’t the responsibility of the adult…
A Royal Bank study released recently draws attention to the cost of food. It’s hurting a lot of people. The Royal bank study suggests that the price of food went up 1.4% 3.8 % and 2.4% over the last three years. Eggs went up 20 -30% coffee a whopping 40%.
What you need to know about separation and divorce in British Columbia: If you are planning on separating, or should find yourself abandoned or otherwise alone without your spouse, then you will be learning a brand new language in British Columbia. My friend the Family Justice Counsellor said, “Gone are the terms custody and access….
Everyone dreams of financial freedom, whether that means early retirement, a worry-free retirement or simply enjoying working while being free from debt and able to afford life’s pleasures and adventures. Take the steps toward becoming financially free by applying these top ten money saving tips to your everyday life, and read our guide on budgeting.
