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
Tag Archives: financial literacy
What is life insurance? Why would I want to buy life insurance? What are some of the “insurance words” that I need to know to have a conversation? How much insurance should I have? How much is it going to cost me? What isn’t covered? All of these are important
According to the Insurance Board of Canada, about 50% of renters in Canada do not have insurance. There is a variety of reasons why and this post is intended to correct some common myths and misconceptions and to provide some resources so you can make an informed decision. Before starting,
What are the 10 most important terms to understand about insurance.(Part 1 of 4). Many people have insurance policies and many people who should have them don’t. Some people have too much coverage and some have the wrong coverage. Many people don’t understand the “language” of insurance companies and that
#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
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
Our finances are closely linked to our health, including our mental health. When we are confident about our financial situation and have enough to cover our basic needs with extra at the end of the month, we may be able to feel secure and plan for the future. The opposite
#FinancialFridays: A recent survey shows that 1 in 4 Canadians say that they can’t afford the holidays this year.
For many, planning for the holidays this year is proving to be a stressful experience. Worries related to the Covid-19 pandemic along with financial concerns and the inability to celebrate as we typically do, is creating anxiety for lots of individuals this Christmas season. Recently, a survey by Credit Canada
As we move towards the upcoming Holiday Season that will most likely be very different from previous ones, it is a good time to think about creating new traditions that are kinder to your bottom line. The holidays tend to be a time during which debts mount along with stress