The Covid pandemic forever changed the way Canadians viewed their relationship to their employer and working from home rather than a traditional office. Many ventured into the world of being self employed either as a full-time independent contractor or on a part time basis, and the term Gig Economy was born.
The recent federal Budget in March 2023 introduced Canadians to a new financial tool meant to make the entry into residential home ownership more of a reality for many.
The FHSA will allow eligible Canadians to make a tax-deductible contribution to a savings vehicle geared solely for their first home purchase.
You have done the hard part and made it to your ‘50s in better financial shape than where you were at a decade ago. If you have children, they are now launched, and their financial dependency on you has hopefully decreased. If you did not have children, you probably used the additional cash flow to hammer away at your mortgage and build up your assets.
Now as you look at your options for retirement you are wondering, “can I do this early or am I looking at the traditional age of 65 to make it happen?”
The pandemic associated with COVID-19 has negatively affected tens of thousands of Canadians physically and mentally, but many more have been affected financially.
Whether due to reduced work hours, a complete loss of job opportunities or one’s small business being permanently closed, the financial devastation is very real for many people.
Newlyweds are no longer just considered to be “twenty-something” in age as many Canadians are waiting longer to get married. In addition, many partners are getting married for a second or even third time.
Sound financial management of assets and liabilities plays a major role in any relationship, regardless of the age of the couple. Here are a few items that anyone can benefit from in order to maintain harmony over money matters.
By, Carla Hindman, Director of Financial Education, Visa Canada
When you’re a kid, a few dollars can seem like all the money in the world. It can take weeks, sometimes months, to save up your allowance. When you finally decide to spend it, you might realize that $10 or $20 isn’t as much as it seems.
Are you crazy for the holidays, spending thousands of dollars on holiday gifts, lights, entertaining, food and decorations each year? If so, you”re not alone. Many Americans feel the sting of holiday spending well into the new year. If you love to celebrate the holidays but don”t love the financial pinch you experience afterward, there are several great tricks for giving and celebrating, without breaking the bank.
If you have a son or daughter, perhaps a niece or nephew heading off to university this month, here”s a great article to share with them from Practical Money Skills.
Making the transition from living at home where someone else buys groceries and pays essential bills to living on your own is a big step. How much can you afford to spend on groceries in a week? Are you going to need to work extra hours to pay for all of your books?