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As younger Canadians continue to face high housing costs, slowing wage growth and other challenges, age-old financial adages have become outdated, necessitating a rethink of what smart money management looks like today. Here are some general money management rules of thumb that financial advisors say need to be reexamined. Housing should only take up a […]
What you should check monthly Budgeting should be done consistently and frequently, says Jason Heath, a consulting-only financial planner at Objective Financial Partners. “If you really want to know what you’re spending money on, and find ways to spend less, that should be a very frequent exercise,” he said, suggesting people do it monthly — […]
Experts say you don’t need to rush the analysis during peak season. Instead, you can break the task into smaller parts and prioritize them based on deadlines. First, think about the big changes in your life this year, says Brian Quinlan, a certified public accountant at Allay LLP. “What happened to your life in terms […]
Wait until everything works out After a few hours out with friends in downtown Toronto, 19-year-old Eleni Koumoundouros has to make a choice. Does she end the evening early and start the hour-long journey to Oakville, where she lives with her parents? Or does she enjoy the evening a little longer and does night-time public […]
Personal finance books rarely create mass appeal, but author David Chilton managed to do so through the relatable, conversational lessons of the wealthy Mr. White to the mild-mannered Roy in his Sarnia barbershop. The sequel, The rich hairdresser returnsopted for a different approach in the 2011 release. In place of his original characters, Chilton dispensed […]
But there is one bright spot: Gen Z actually runs ahead of the peloton. According to the survey, 68% of Canadians younger than 27 invests consistently, making them the most proactive generation when it comes to money habits. “I am very happy that Gen Z is taking the lead here,” says Pat Giles, vice president […]
