Important Money Lessons To Teach Your Kids

Important Money Lessons To Teach Your Kids

Considering the importance of budgeting and saving for the future, it’s a surprise that schools aren’t more active in teaching the fundamentals of personal finance.

That means the importance of children being taught money lessons at home can't be overstated.

Even if you weren’t taught money lessons growing up, it’s not too late to begin with your own children. Although every family will tackle this challenge in their own unique way, there are a few universal lessons that are useful for all children to learn.

To set your kids up for success, here are some things to keep in mind... Keep reading » about Important Money Lessons To Teach Your Kids

Best Credit Cards in Canada 2018

The best credit cards in Canada

What Canadian credit cards give the best best bang for our buck?

That’s what these rankings are all about.

These cards rose up to the top because they offer the very best in their respective category. If you’re looking for cash, travel, no fees, insurance, or even the best overall card – we’ve got you covered.

But, how you you decide which is best for you?

Only you can really answer that question. Here are some basic things to consider:

  • Keep your spending habits in mind. How much you spend and where you spend it does matter. The key is to never overspend for the sake of rewards.
  • Travel or cash rewards. Most cards can be broken down into one of these two camps. Travel cards usually give higher value rewards but lack the complete flexibility of cash.
  • Point value matters. If you go with a travel or points card, it’s pretty easy to see which cards earn more points. But, keep in mind that not all points have the same value. That’s why we show you an estimated real dollar value for the rewards you will earn.
  • More than just rewards. Credit cards have a lot of features, perks, and insurance coverage outside of rewards. Our top cards aren’t just there for the rewards. Don’t miss out on all their other great features too.

We tracked 160 credit cards in Canada, reviewed over 50 features of each card, calculated the dollar value of each card reward ‒ and let the numbers speak for itself.

Of course, the decision of whether the winner meets your needs is still yours...but you won't find a better starting point than this: Keep reading » about Best Credit Cards in Canada 2018

Reddit Personal Finance Reduction

Reddit Personal Finance Reduction

It was supposed to be simple.

Go to reddit, and sift through all of the information to find the best answers to the best questions for the week.

What I had at the end of all of my research was 152 pages of raw data: questions, answers, jokes, repeated answers from people who had not read the rest of the comment thread ‒ it was a mess.

Then, after spending the week going through that information, I did it all again and condensed what I found into the following questions and answers.

But first, let’s talk about reddit...

How reddit works

Keep reading » about Reddit Personal Finance Reduction

Choosing An Online Broker For DIY Investing

Choosing An Online Broker For DIY Investing

I've been doing DIY investing since 2011, previously I was with a big financial investment company where the service was good but was mainly invested in mutual funds that have very high MERs.

At first I had no idea really what I was doing, but now I have a sense of picking stocks and selecting ETFs that I find value in and putting my money to work. And so far, so good. 

Now I think I’ve reached a point with my DIY investing career where it’s time to try out a new online broker and see if the grass is greener somewhere else when it comes to discount online brokers.

Why Choose A DIY Approach To Investing

Keep reading » about Choosing An Online Broker For DIY Investing

What TurboTax Has That Other Tax Software Doesn’t

What TurboTax has that other tax software doesn’t

This article was sponsored by TurboTax.

Filing your taxes can feel like a no win situation…

Paying an accountant to do it for you can be quite expensive (been there) while doing it by pen and paper is a tedious error-prone chore (done that).

Tax software to the rescue, right?

It’s true, there are quite a few options out there today when it comes to tax software with many of them seemingly racing to the bottom trying to offer the cheapest possible price for multiple returns, or sometimes even free.

Honestly, using software is way better than wrestling with pencil, paper, and a calculator.

But, I’m a pretty financially savvy guy and I have to admit that I still struggle filling in all the fields correctly. I’m often reduced to scratching my head, desperately combing through poorly formatted help documents, searching madly online, and scouring the CRA website to find answers to my questions.

For someone who cares much less about money than I do, I can imagine it must be considerably more frustrating even with the help of software. That’s where TurboTax has picked up the ball and run with it.

TurboTax Holds Your Hands So You Can Stop Wringing Them

Keep reading » about What TurboTax Has That Other Tax Software Doesn’t

The War On Debt: The Work Has Just Begun

The War On Debt: The Work Has Just BegunWe have come to the end of our six-month blog experiment to kill The Colossus, which stretched into a year – and stretched us along with it.

Overall, this financial overhaul has been a difficult journey, not only because we had to curtail some bad habits – and in some cases, fight for a better deal…

But also because of stresses in our personal lives which have coincided with our financial crisis.

Report from the Job Front

Keep reading » about The War On Debt: The Work Has Just Begun

Track All Your Subscriptions and Earn Cash Back With Butter

Track all your subscriptions and earn cash back with Butter

This article was sponsored by Butter.

We’ve all been there…

You see a great new service that looks amazing and you sign up for the free trial (hello Spotify) and then before you know it you’ve been pay $10+ per month for 3 years.

For those who are math-averse, that’s $360 gone forever.

Not that subscriptions are bad, but with all the amazing cloud based apps and services out there these days and with everyone and their mom switching to the subscription model, you need to keep them in check. Otherwise, that $360 can turn into thousands of dollars you’ll never see again.

That’s why my ears perked up when Derek Szeto, the founder of RedFlagDeals, told me about a new mobile-friendly website called Butter.

Butter tracks all of your subscriptions in one place automatically, lets you earn 1% cash back on popular subscriptions and recommends new subscriptions to you that you may be interested in.

Of course, you’ll also get special offers on subscriptions from time to time that might not be available anywhere else.

So How Does Butter Work Exactly…?

Keep reading » about Track All Your Subscriptions and Earn Cash Back With Butter

9 Questions To Ask Yourself Before Getting A Pet

9 questions you should ask yourself before getting a petI’ve wanted a dog since I was six years old...

But the one question that kept me from getting one until I was well into my twenties was:

“Can I afford a pet?”

And more specifically: “Can I afford a dog?”

Not to get budget-preachy on you, but these are seriously important questions to ask if you’re thinking about adding a pet to your life. Because this decision isn’t just about you…

It’s also about your potential new animal companion.

You need to make sure you’re ready to take responsibility for them in every way. And that very much includes the money stuff.

Luckily, there’s a structured, reliable way to find out if you can afford a pet – all without compromising your retirement. (Or having to eat ramen noodles all month unless you’re into that.)

Check in with your expenses

Keep reading » about 9 Questions To Ask Yourself Before Getting A Pet

The Economics Of Online Dating: Why Paid May Be Better Than Free

The Economics Of Online Dating: Why Paid May Be Better Than Free

If you were born in 1977 or later...

Chances are, you grew up in the world of online dating as one of many options (perhaps a primary option) for finding love.

Believe it or not, started way back in 1995. And while there are lots more online dating platforms these days, like Tinder, Plenty of Fish or eHarmony – all of which promise you the chance of romance...

It’s still not easy to find that elusive love of your life.

Understand what you want

Keep reading » about The Economics Of Online Dating: Why Paid May Be Better Than Free

The War On Debt: Shopping For A Better Deal From The Bank

The War On Debt: Shopping For A Better Deal From The Bank

The 5-year term on our mortgage is up for renewal in this month.

We’ve gotten stuck at one bank – and we’ve been too lazy to search elsewhere, mostly for the sake of convenience.

It has been easier to have all our eggs in one basket:

Is it possible that my financial institution “banks” on how lazy I’ve been?

So this seems the perfect opportunity to re-organize my finances in a way that benefits me – instead of the banks.

Don’t be afraid to shop for money.

Keep reading » about The War On Debt: Shopping For A Better Deal From The Bank