Top 6 Threats to Your Finances in 2014

Top 6 Threats to Your Finances in 2014Mounting debt We’re all another year older, and as the old song goes, deeper in debt. The latest measure of household debt by Statistics Canada shows the average household owes nearly $1.64 for every dollar it earns in a year. In the 1990s we owed less than a dollar for every dollar we earned but the creeping culture of consumerism has most Canadians living beyond their means. Late in the…

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Tougher Standards for Financial Advisors Still Out of Reach

Tougher Standards for Financial Advisors Still Out of ReachAfter years of consultations about raising standards for financial advisors many industry watchers are beginning to doubt it will ever happen. “They’ve been at this for a long time, so you sort of wonder about the ability to get to a simple result — whether there’s a will to bite the bullet,” says Ed Waitzer, a partner at Toronto law firm Stikeman Elliott LLP. Mr. Waitzer, a former chairman of…

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Kids Develop Money Habits By Age Seven

Kids Develop Money Habits By Age SevenKids develop money habits by the time they’re seven, according to recent research from Cambridge University. And that means that parents’ financial styles have an influence on their kids own fiscal skills well into adulthood. Backed by London’s Money Advice Service, a free financial-literacy organization, the “Habit Formation and Learning in Young Children” report found that by age seven, most kids recognize the value of money and know how to…

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Why its time for investors to take some chips off the table

Why its time for investors to take some chips off the tableOn Dec. 6, 1941, while Europe was engulfed in a war that saw Germany control all of Western Europe except Britain, Americans were spending an ordinary Saturday, wrapped in their collective isolationist blanket. Whether getting some Christmas shopping done, listening to game shows on the radio, or taking in a movie such as Citizen Kane, The Maltese Falcon or Dumbo, the battles being fought on the far sides of the Atlantic…

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5 Practical Financial Preparations For a Long-Term Vacation

5 Practical Financial Preparations For a Long-Term VacationWhen that first cold wind or frost hits, I’m always surprised. I have no clue why — I’m Canadian, a Winnipeg native — and I’m well acquainted with this country’s winters. If the chilling reminder of what’s in store this season has you thinking of going on an extended trip, here are five financial preparations to make before any long-term vacation. Get travel insurance. Only half of Canadians, according to…

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