What is a nest egg you ask? A nest egg is a sum of money that has been saved for a specific purpose. This savings is generally designated for longer-term goals. This is a good time to think about your goals and what it will take to reach them. Before
Category Archives: Financial Literacy
#FinancialFridays: Free Income Tax Filing Services are available to those who meet income guidelines. Learn more here.
Free Income Tax Filing Services Still Operating Under COVID-19 Conditions in Bruce and Grey Counties. This year, under COVID-19 conditions, the Community Volunteer Income Tax Program (CVITP) is changing how it provides free services. Most local organizations in Grey Bruce will be offering drop-off/pickup, virtual or phone services. Across both
#FinancialFridays: Credit – it can help build your dreams and it can come down like a hammer. Learn more here.
Credit is like a hammer; it can help build our dreams or it can leave us in ruins – it’s all in how we use it. What a wonderful feeling to have that envelope at the door shouting “Congratulations, you’ve been approved for a $10,000.00 loan!”. We all love to
#FinancialFridays: Did you receive pandemic benefits? You may qualify for a payment plan with CRA. Find out more here.
Canadians who received pandemic benefits will have up to 1 year to pay back any debt from those benefits without interest. This applies to Canadians who made up to $75,000 in taxable income in 2020 and received one of the federal government’s five pandemic relief benefits or employment insurance benefits:
#FinancialFridays: Are you 65 years or older? You may qualify for the Canada Guaranteed Income Supplement.
Have you heard about the Guaranteed Income Supplement (GIS)? The GIS is a federal monthly payment which is based on income and is available to low-income Old Age Security pensioners. It is not taxable. You may qualify if… You are a senior 65 years or older. You receive the Old
How do the COVID-19 benefits impact your income tax return? If you received the Canada Emergency Response Benefit (CERB), Canada Emergency Student Benefit (CESB), Canada Recovery Benefit (CRB), Canada Recovery Sickness Benefit (CRSB), or Canada Recovery Caregiving Benefit (CRCB) payments, these are considered taxable income, and you will have to
2020 has finally ended and we made it… although many of us have been hard hit financially by COVID-19 and the far-reaching impacts of it! It is still not too late to look back and plan for moving forward. I like to set ‘SMART’ goals that I can work towards
Financial Fridays Facing Fear Finding Freedom The Covid-10 Pandemic has affected everyone financially, to some degree. While there are some who made extra money, for most people there have been a significant increase in the cost of living, as well as drastic changes to incomes. A new year gives us
As 2020 wraps up (pun intended!), it is also a good time to look forward to tax season. This is going to be a different tax season for many people as they navigate the changes in their income and how that impacts their taxes. For those who applied for COVID-19
Credit and debt are financial tools. Like any tool, what matters is how, when, and why we use it. It is important to be conscious of our habits and behaviours when we consider using credit and taking on debt. This week we are going to talk about the role debt