Behold, judgement day is upon us, or more accurately, money judgement day.
When I first looked at the new law being proposed in BC about money judgements I almost cried. It’s terrifying to see how many bad things can happen to people if they should have serious debt problems. They even use the word execution.
Money judgements are the second last step in the collection of debts before the final solution for an impossible debt problem, a bankruptcy. Creditors must go to court, first, to get what is known as a judgement so they can begin to take property away … Read More >
Nothing like waking up on a Friday morning to find out that the Bank of Canada governor says house prices are overvalued by 30 %. As reported in the Vancouver Sun, Stephen Poloz, the Bank of Canada Governor said, “The vulnerability associated with household indebtedness is edging higher and the overall risk to financial stability in Canada is slightly higher…..house prices overvalued 30%”
Hidden behind the carefully worded text is another warning. As reported, “The bank continues to expect a constructive evolution of imbalances in the household and housing sectors as the economy improves and interest rates begin to … Read More >
Also posted in Debt
Tagged debt, housing
Today there is good and bad news.
The good news came from a StatsCan report about all of the household debt in Canada that many experts have been complaining about – how Canadians have been accused of being bad money managers but guess what? This report confirms that we are not broke and precariously dangling from a cliff of troublesome household debt, but quite the opposite. Canadians have significant assets to back all of the debt – and more. There is a net-worth surplus.
As published recently by the Vancouver Sun, a former chief economic analyst for Stats Can, Philip … Read More >
Also posted in Blog, Debt
Tagged bank, debt, fraud
A good friend of mine knows all about phishing and never to visit unknown websites – or to open unexpected attachments. Even so, last Friday night at 11:30pm he received a file he was expecting from a known colleague.
The files were big and were sent through Sendspace. When he got it he clicked on Sendspace after which a prompt popped up and informed him that he needed a software upgrade to gain access. So far so good.… Read More >
Also posted in Personal Finance
Tagged scam, virus
At the start of a New Year, many of us feel the urge to create resolutions. But, as you might have heard, the average New Year’s resolution is abandoned a few weeks into January.
If we know how often we fail our resolutions, why do we create them in the first place? Most people feel that the beginning of a new year is a ‘fresh start’ and the perfect time to begin rolling out the perfect version of themselves.… Read More >
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 >
Are the credit card bills piling up from your holiday spending? If you won’t be able to pay them off for a while, you’re probably resigned to the fact that debt is just a part of life.
Debt comes, and it may go, but more will come. Debt will always be a part of your finances.
But you are wrong. Because debt does not need to be your close friend/enemy.… Read More >
Recently I met with a couple to do their bankruptcy counselling, and as we were talking the wife asked me a very interesting question. She asked my opinion on joining a “gifting circle” after being invited to do so by a close friend. The buy-in was $5000, and the promised reward was $40,000.
Sounds too good to be true doesn’t it? And you know what they say…
My first response was — that sounds like the “Birthday Girl” scheme. She said “Yes! That’s what they call it, the ‘Birthday Girl’ gets the money when it’s her turn”.… Read More >
Doing It My Way: How to Organize Your Affairs, Clarify your Wishes and Leave a Lasting Legacy
By Margaret H. Johnson
When my dad passed away very suddenly, his financial affairs were well organized, but we didn’t know what any of his last personal wishes were. My mom, siblings and I had to make difficult decisions, not knowing what he truly would have wanted us to do. All that stress was compounded by our grief.
After that experience I realized I needed to organize my own affairs and clarify my wishes. And I wondered, how many others are in the … Read More >
A fresh new year is a motivating time for change; you want to move closer to your financial goals, you want to gain new habits; you want things to be different this year. This is how most of us feel this time of year — it’s in our nature.
But you’re not quite sure how to go about achieving your goals. You try to save money where you can, you try not to overspend, but you still can’t seem to get a good handle on your money and gain real progress towards your goals.
And at the back of your … Read More >
By Margaret H. Johnson
It’s beginning to look a lot like Christmas – now that I pulled myself away from the internet and escaped to Vancouver Island to pick up my mother.
2014 has been such a busy and fulfilling year for me, for my staff and all the programs we have worked so hard to produce for our stakeholders. The wheels have been spinning so fast that I have truly been lost in the gravitational pull of daily routine and the solar heat of managing your own business. Sometimes I forget that my family and friends are all waiting … Read More >
Picture this scenario – you receive a phone call from your bank asking if you purchased something for $215.63 from an online retailer yesterday. You confirm that no, you did not. Your bank tells you that it appears as if you have been the victim of fraud and identity theft and that they will reverse the charges after an investigation is placed on your account.
The bank suggests that you go to your local branch and change your Personal Identification Number (PIN) and your online banking password. They give you no further information regarding what you should do and how … Read More >
Do you remember the last piece of really good money advice that you got? Who did you get it from? Was it your parents, your co-worker, your neighbour? Was it from a magazine at the dentist’s office or an inspirational Pinterest board? Where ever you heard it, chances are you remember it because it resonated deeply with you.
Below are some of the most common but smartest ‘money clichés’ that you’ve probably heard – and maybe some that you haven’t!… Read More >
How much would you consider spending on a luxury item that you really, really coveted? How about a lavish designer purse, like a Louis Vuitton or a Chanel?
We’ve all seen the gossip magazines – the ones that feature celebrities carrying expensive, outrageously priced handbags. How can one purse be worth $5, 000, or even $10, 000, or more? After all, it’s not encrusted with diamonds or gold. Really, when you break down the item, it’s just leather and hardware.… Read More >
You have big dreams, you know things need to change, but you just can’t seem to get out of the money rut you’re stuck in. You’re not sure what you’re doing wrong or how to fix it. Well you should know, your current financial position is the result of your “money relationship”. The deeply entrenched feelings you have towards money, probably subconsciously, are driving those money habits you can’t seem to quit.… Read More >
Have you started your Christmas shopping yet? I haven’t, but I’m starting to think of gift ideas and asking the yearly dilemma, to make gifts or to buy them? For me, this is an annual question which could go either way, some years I make gifts for family, other years I buy specific items or even gift cards if I’m really
lazy busy stuck. If you are like me and thinking about making some gifts this year, let’s consider the pros and cons in terms of cost, time, and stress to help make our decision.… Read More >
Do you often look at the clock at the end of a long day and wonder where the time went? Do you compare your life to other people’s, especially on social media sites? Do you find that you are stressed out, irritated, and generally unhappy most days? According to some individuals, you might be a victim of “Rushing Woman’s Syndrome” (read the news story on this here).… Read More >
I often speak with individuals who claim that they’ve made money mistakes in the past. “Why didn’t I just do __________!” they tell me, often very regretfully. While some people are quick to learn from their money blunders, others repeat them without realizing where they went wrong in the first place. As you probably know, mistakes are disguised lessons – so let’s learn from your past so that you can have a brighter future!… Read More >
International Day of the Girl Child is October 11. Each year since it was declared by the United Nations in 2012, the day has been centered on a different theme of girls rights. In 2012 it was ending child marriage, in 2013 it was innovating for girls education, and this year 2014 the theme is “Empowering adolescent girls: Ending the Cycle of Violence”.
If you are wondering what this is all about, search the hashtag #BrighterFuture. People are using social media to express the importance of equality for girls, and specifically what needs to change in the current global practice … Read More >
It’s that time of year again… back to school. With the kids returning to school and the fresh crisp air of fall, back to school season brings such a feeling of fresh beginnings as much as the new year in January. Many of us have grown tired of the lazy, laid back days of summer and are ready for a bit more structure and achievement, whether that’s organization, routine, or growth.… Read More >
Also posted in Blog, Budgeting