Popular Budgeting Methods

Budgeting is an essential tool for achieving financial stability and meeting your financial goals. Different methods cater to various needs and preferences. Here’s a breakdown of some of the most popular budgeting methods: 50/30/20 Budget Method: Overview: This method involves dividing your after-tax income into three categories: needs, wants, and savings. Breakdown: 50% Needs: Allocate […]

Choosing the Right Financial Advisor: Key Questions to Ask

Selecting a financial advisor is a crucial step in managing your investments and achieving your financial goals. Here are some key questions to ask potential advisors to ensure they are the right fit for you. 1. Qualifications Inquire about the advisor’s qualifications. What designations do they hold? Are they a Certified Financial Planner or a […]

A Comprehensive Guide to Mutual Funds

Mutual funds are investment vehicles that allow a group of investors to pool their money together and invest in a diversified portfolio. These portfolios are typically comprised of a variety of assets such as stocks, bonds, and other funds. The specific investments within a mutual fund are determined by the fund’s investment objectives. Investing in […]

Understanding the First Home Savings Account (FHSA) in Canada

The First Home Savings Account (FHSA) is a new type of registered savings plan designed to help Canadians save for their first home. It is available to Canadian residents aged 18 years or older who are planning to buy a home in Canada. Contribution Limits The FHSA has specific limits on contributions: An annual contribution […]

What Happens If You Die Without a Will in Canada?

Despite the clear disadvantages, approximately 58% of Canadians do not have a will*, and an additional 10% have an outdated one. This article explores the consequences of dying without a will in Canada. Dying Intestate: The Implications Dying without leaving a will is referred to as dying intestate. In such cases, intestate succession legislation comes […]

How are Mortgage Rates Set? Understanding the Influences and Trends

Mortgage interest rates can often seem elusive and complex. This article aims to demystify how they work and how you can keep track of their movements. The Two Types of Mortgage Rates: Variable and Fixed Mortgage rates come in two main types: variable and fixed. Variable Mortgage Rate A variable rate is directly tied to […]

Getting the Most out of Renovations

Thinking of renovating this summer?  According to the Appraisal Institute of Canada, here are the renovations that pay off the most. Kitchen and Bathroom – Expect an increase in house value of 75% to 100% of the cost of the renovation Painting inside and outside – 50% to 100% of the cost can be recouped […]