Budgeting Below Your Means

I’ve read a lot of articles teaching people how to budget properly, but every article I read always assumes that the entire budget represents your monthly income. Why not change it for once? Let’s assume you make way less! It might seem logical to most people that if you get a raise it means you…

What is FIRE?

There’s a growing trend with younger Canadians to stop following the “Canadian dream” of home ownership and deciding to take the road of FIRE instead. Just what is FIRE? It stands for Financial Independent and Retiring Early. Perhaps popularized by the writer of Mr. Money Mustache, the idea is to reach financial independence at an…

Making The Right RRSP Choice

The RRSP deadline for Canadians that want to make a contribution is on March 1, 2018. That leaves just under 2 weeks away if you want to make a contribution this year. As RRSP goes, Canadians are making less and less contributions towards their retirement. In fact, as reported by the CBC, Canadians have been…

The Power Of Balancing – Why It Works

Stocks are at an all time high. Yet pessimism is also at an all time high. “Shouldn’t I wait for the market to crash before buying?” That’s a very popular question that I get asked all the time. So what if the market doesn’t crash for another 3 years and the market goes up another…

Using Your RRSP Correctly

It’s that time of the season again where we have to start thinking about our tax returns. With that comes the decision of whether or not to contribute to our RRSPs in order to give ourselves a tax “refund”. I’ve written before about RRSPs and explained 5 other ways an RRSP can benefit yourself, but many…

Stop-Loss Orders Don’t Stop Losses

I always find it amusing when individuals tell me about stocks they buy and then tell me they put a stop-loss order on their stocks so that they don’t lose too much money. Shouldn’t individuals be thinking positive about their investments rather than worrying about how much money they might lose? With the recent drops in…

How To Negotiate When Buying A Car

Buying a car is probably the second biggest purchase a person will ever make next to buying a house.  Over the years, surprisingly, owning and operating many cars may actually cost more than owning a house.  One of the biggest mistakes that individuals make when purchasing is a car is that it becomes completely emotional.  Car…