Managing your personal finances is essential. It helps you prevent debt and achieve your financial goals, such as buying your first home or planning your retirement. Yet many Canadian households live paycheck to paycheck and have no emergency fund to cover an unexpected expense. In recent years, indebtedness has been high, with rising property prices and inflation on groceries. This page contains articles on the basics of personal finance: budgeting, debt management, financial freedom, savings, investing (stock market, real estate, etc.), credit cards, daily savings tips, insurance and much more.
Before you invest your money, whether in the stock market or in real estate, you need to take control of your finances and adopt sound financial habits to simplify the management of your finances. This includes, among other things, a detailed budget, effective debt management and an exemplary credit record. In this way, you’ll be able to prevent debt and free up room to save and invest.
You’ve heard it all before: budgeting can help! In fact, it’s the first piece of advice given by every advisor and financial planner. This will enable you to re-establish and rebalance your finances before investing or hunting for points to travel at lower cost. Sometimes small changes can make a big difference!
Life sometimes leads us to spend more than we should, and sometimes even to live beyond our means. But there are other factors too, such as inflation on groceries and the housing crisis. As a result, debts begin to accumulate and interest payments on loans take up an ever-increasing share of our budget. You should know that there are several ways to get out of the debt spiral, and these are discussed in the following articles.
If you want to buy your first home (condo, house, income property) or simply take out a new credit card, having an exemplary credit score and record is very important. But first, do you know what a credit score is? Do you know how to improve it? That’s what we’ll be talking about in the following articles.
Have you ever heard of financial independence or financial freedom? Early retirement as young as 40? More precisely, it’s the FIRE movement (Financial Independence, Retire Early). With a great deal of determination and organization, as well as incredible financial discipline, some people succeed. In the following articles, we discuss the different types of financial independence and tips for achieving financial freedom.
Now that you’ve adopted healthy financial habits and regained control of your finances, it’s time to start investing and building long-term wealth. The following articles cover managed and self-directed investing, investments in registered accounts (TFSAs, FHSA, RRSPs, RESPs), other investments and taxation.
First, we look at registered accounts, such as TFSAs, FHSA, RRSPs and RESPs.
Next, here are some other suggestions for articles to help you invest: online brokerage platforms, exchange-traded funds, etc.
Each year, you must declare your income and pay our taxes. Some of you use the services of a tax firm or accountant. Others prefer to do it themselves, using tax return software. In the following articles, we share tips and tricks for declaring your income and reducing your taxes.
Now, here are articles on chequing accounts, savings accounts, high-interest savings accounts and bank loans.
Home, car and travel insurance are essential pillars of financial security. The right insurance prevents financial loss and ensures peace of mind. Some credit cards also offer comprehensive travel insurance.
You must set up a strategy if you want to save money on travel or your everyday life with credit card points. In the Milesopedia community, questions come up daily; that’s why we have set up several popular strategies. Check out our reward points strategies below, along with the best credit cards we recommend.
To save money on everyday expenses like groceries and gas, good personal finance management is essential. Using price comparison apps, buying in bulk and watching out for promotions can make a big difference. But also, take advantage of loyalty programs and credit cards with rewards programs and cash rebates. Discover our best strategies below.
Personal finance and real estate are closely linked. Buying a home is often the biggest investment of a lifetime. Prudent financial management is essential to avoid excessive debt and maintain long-term financial stability.
For students, managing personal finances is essential. Between tuition fees and the cost of living, the challenges are many. It’s crucial to follow a budget and plan your spending. This helps avoid debt and ensures greater financial stability in the future. Here are some tips to help you.
For newcomers to Canada, sound financial management is essential. Set-up costs and the cost of living can be major challenges. Budgeting and planning expenses are essential. This helps avoid financial difficulties and ensures successful integration.
For entrepreneurs, sound financial management is even more important! Initial investments and operating costs pose a number of challenges. Maintaining a rigorous budget and planning expenses are essential. This avoids indebtedness and ensures the company’s financial stability. These are just some of the topics we’ll be covering in the following articles.
For seniors, managing personal finances is crucial. Fixed income and healthcare costs pose challenges. Following a budget and planning expenses helps preserve savings and ensure financial stability throughout retirement. Here are some tips to help you.
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