5 Steps To Take To Jump-Start Your Financial Success

5 Steps To Take To Jump-Start Your Financial SuccessLacey Hamilton hopes to attend the 2018 Winter Olympics in Pyeongchang, South Korea to cheer on the Canadian athletes. To save for the trip, the 22-year-old Mississauga resident drops spare change and $5 bills into a 0.9-litre mason jar that she empties into a savings account when it becomes full. “I live on a cash diet as much as possible,” she says. “I find that’s the best way for me…

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Top 5 things you need to worry about financially

Top 5 things you need to worry about financiallyThe financial situation of 2008-09 was the kind of disaster that instilled in a lot of people serious jitters, whether they were lifelong investors or simply beginners. Many still have deep fears of the market crashing. But there are far more concrete things to worry about financially. Inflation “There are a number of people I meet who are 50 and 60 that think that what they need to be most…

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Why and When Using Debt to Invest Makes Sense

Why and When Using Debt to Invest Makes SenseThe history of investing is full of cautionary tales regarding the use of leverage to enhance returns, and how it is your best friend until it becomes your worst enemy. But many times, the trigger that causes great losses resulting from leverage has nothing at all to do with the quality of the underlying investments. The story is quite simple. Let’s say there is a good idea with a fair…

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6 Ways to Cut Your Banking Fees

6 Ways to Cut Your Banking FeesNearly half of Canadians live pay cheque to pay cheque.  A recent survey by the Canadian Payroll Association reported that 47 per cent of us would face financial hardship if our pay was delayed as little as a week. One of the easiest ways to save money is to take a close look at your banking fees. But when you’re living on the edge, it can be tough to change…

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Canadian Debt Levels Keep Rising

Canadian Debt Levels Keep RisingCanadians continued to rack up debt in the second quarter of the year as they took advantage of low interest rates, Statistics Canada said Tuesday. The ratio of credit market debt to personal disposable income crept to 148.7 per cent in the July-September period, topping the old record of 147.3 set in the previous quarter. Credit market debt includes mortgages and consumer loans. Statistics Canada said the ratio increased as…

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How to Solve a Debt Problem

How to Solve a Debt ProblemThere’s little debate that the financial problems we face, both collectively in terms of the economy, and individually in terms of our personal finances, are rooted in debt. We have major balance sheet issues at the public, private and sovereign level. The markets have rebounded significantly, but the real economy has demonstrated a much more muted recovery, and unemployment is still unacceptably high…

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Dividend Investing at its Best

Dividend Investing at its BestWith all the negative attention the stock market has received over the past 24 months its easy for investors to get itchy waiting for turbulence and fear to take hold once again. For the majority of 2010 all I’ve done is dividend investing at its best: dollar cost average (DCA) into my existing portfolio of high quality dividend stocks with cash, my line of credit and proceeds from the sale of…

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Canadian Mortgage Concerns: Banks

Canadian Mortgage Concerns: BanksI’ve often heard in business that once is a coincidence, but twice is a trend. Canadian banks have performed quite well both during and after the credit crisis of 2008/2009 and despite a low interest rate environment have had robust mortgage numbers for a number of consecutive years. We’ve all heard Canadian politicians touting the health of the Canadian banking industry but I have to wonder at which point problems…

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