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Kelly Ho, a certified financial planner at DLD Financial Group, says you should start by identifying your fixed costs, such as rent, mortgage, utilities or car payments, and then figure out how much you make. “When I sometimes ask clients: ‘What is your income?’ Not everyone can give me a clear answer,” she says. From […]
Make finances easier with automation Automating your finances generally means setting up automatic payments for bills and recurring investment or savings deductions from your bank account. It may sound tedious to set up, but once most bill payments are automated, experts say it can bring structure to your finances and set your budget up for […]
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 — […]
Many Canadians missed important goals A year ago, 51% of respondents in a similar poll said they wanted to pay off their debt by 2025, but only 26% were successful. A similar number, 49%, had the ambition to save for the future last year, but only 30% of this year’s respondents said they accomplished that […]
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 […]
Hood, who had been living with her parents in Aurora, Ont., since graduating from college, recalled applying for a job that she felt perfectly matched her qualifications. The company had to close the application portal early because more than 450 resumes had been submitted, she said. Even jobs for which she thinks she is more […]
As a newcomer, you can get personalized financial advice and apply for credit cards that don’t require a long Canadian credit history. This gives you the chance to start building your credit score right away so you can qualify for higher credit limits or better loan terms as you build your life in a new […]
Interest rates and inflation Price growth stabilized this year, allowing the Bank of Canada to cut its key interest rate by a full percentage point to 2.25% in 2025. But with higher prices already baked in, an increasing number of consumers were struggling with debt. The annual inflation rate fell to 2.2% in October, according […]
For many newcomers to Canada, personal and financial goals can feel like they’re moving in opposite directions. You want to say yes to everything—travel, dinners out, live music, social events—but you’re also thinking about building an emergency fund, saving for retirement, and staying out of debt. Add to that the costs of getting established, a […]
But long-term confidence does not mean Canadians will remain unaffected by the current economic climate. While 68% say they are confident they will eventually meet their milestones, more than half (51%) say they are currently putting off at least one important financial goal. How can Canadians ensure they reach the milestones they plan to? FP […]
