The value of saving money was ingrained in me by my parents at a young age. Cash gifts would go into my bank account and chores were happily accepted so I could buy my own treats at the dollar store. When the time came to splurge on an electronic or the hottest new toy, I had my own stash to dip into. Parents are the biggest influencers on their child’s financial habits, so here are our 9 ways to teach kids to save money, and they all start with you!
Last year, you thought ahead and contributed more towards your taxes than required. Now, you get to reap the rewards of your tax refund! It’s exciting to get some extra cash in your pocket, especially when you see the positive result of your contributions and the profit you have created. While the cash may be tempting to spend, you know you want to be smart about how you spend it. And, since you feel good about the final amount of your refund, you want to feel equally good about where that money goes. This is a great opportunity to reward yourself by taking care of your finances, buying smart, and maximizing the benefit of your refund. Here are some important ways to think about paying yourself first, and ideas on how to get the most out of your purchases.
While one of the most common stressors on a relationship is finances, budgeting as a couple doesn’t have to be complicated if you’re both on the same team. There’s no such thing as a “normal” budget; each couple’s budget is designed specifically for their family’s goals, income, and spending habits. Budgeting for couples requires open communication and the discipline to track your spending. We can help you identify your long and short term goals to find a plan that works for you, starting with these 7 tips on how to create a budget you and your spouse can follow.
For some, February 14 is the most romantic day of the year. For others, the obligation of Valentine’s Day spending is an inconvenience. Whether you’re looking forward to getting showered with affection and gifts or dreading this retail holiday, if you’re in a relationship, there’s a good chance you’ll be celebrating V-day in one way or another.
With the economy continuing to struggle, markets fluctuating, and job security in jeopardy, it is no wonder that many people are concerned about their financial futures. In such uncertain times, feeling out of control – especially when it comes to finances – can lead to unnecessary stress. To take back control and alleviate anxiety, here are five tips to help you manage your household finances.
We have all heard stories about “that guy” who made a fortune in the stock market. He’s the same guy who never loses in Vegas and always seems to find the best deals on Black Friday. But we don’t always hear about the bad outcomes in investing, from chasing high returns to taking on too much risk. Same goes for Black Friday – do you ever hear about a friend who waited in line for hours only to be disappointed by the value of the deals?
This blog by Invisor CEO Pramod Udiaver was originally published on Huffington Post Canada.
Vacation travel is always fun, isn’t it? The days that lead up to the trip are probably the best part as you get together with your friends, family, or whoever is joining you, to plan the trip. Even if you are travelling alone, researching your destination and planning the trip builds up excitement.
If your employer offered you free money, would you say no? Of course not! But if you’re not participating in your company’s Employee Savings Plan that is basically what you’re doing.
A recent article published in Benefits Canada pointed out that the majority of Canadians don’t know how Tax Free Savings Accounts (TFSA) work. The TFSA is a tax-sheltered account for Canadians in which any gains or income earned in the account are tax-free, even when the money is withdrawn. Because income is not taxed, your earnings grow quicker than they would in a taxable account since any money that would have been withdrawn to pay taxes instead earns income for you.
When it comes to investing, many people ask questions such as what company’s stock should I buy, when should I buy, and how much return can I expect. The questions they should be asking are: