Category Archives: Personal finances

Do you know how to ease your way out of debt?

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It’s not easy keeping your spending in check during the holidays, or anytime, so when the credit card bills start piling in come January, it’s enough to raise the panic button and send you flying back to the store for some retail therapy.

If you approach it the right way, though, you can easily manage those bills and keep your stress levels under control.

The stress-free plan for tackling Holiday debt

1. How much do I owe?

Ignoring your bills is the worst thing you can do and it will only add to your debt and weaken your credit …

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Half your kingdom: dealing with the financial stress of a late-in-life divorce

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Mature couple separating, cannot reconcile differences

Financially, we tend to be in the best shape of our lives in our fifties, after decades of wealth accumulation and before we start drawing on savings. Furniture bought and paid for, mortgages are paid down or paid off, the kids are managing on their own, and retirement is within sight.  Suddenly, divorce becomes an unforeseen reality and our apparent kingdom has to be chopped in half. Now what?

The key to staying financially afloat and less stressed about money really depends on your attitude. If you see your life as a ham on the chopping block, …

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Brown Bag Budgeting: the financial benefits of having a lunch plan

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Colleagues eating lunch togetherDropping $260 at lunch recently got me thinking about how much I save when I pack my lunch instead. And yes, I was eating alone but please don’t judge me. You might be spending even more on lunch than I did if you really think about it. The problem is that most of us don’t think about it at all.

So, how did I manage to find a lunch that cost that much? Actually, it found me. I was working downtown for the day and headed down to the underground mall to grab a bite. I saw some amazing …

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3 donation mistakes that will cost you

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child making donationThis might seem like an odd title. After all, don’t ALL donations cost you? Here though we are talking about donations that cost you, well, a little more than you bargained for.

1. Clicking without recording the donation

This is simple but so easy to do! You’re reading about a cause on the web that touches you; the donate button is conveniently placed at your fingertips and you click away. That’s a wonderful initiative but what did it cost you if you failed to record it and claim it on your taxes?

In Canada, the charitable tax credit …

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The ‘Unbonus’: two financial downsides to a work bonus

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The work bonus has been around a long time, over a century in fact, so could it be outdated for today’s average employee? Bonuses were meant to improve productivity and enhance compensation, but do they really? It may be time for employers to unshackle their employees, or for employees to ask to be ‘unbonused’ because: missing a bonus can cause serious financial hardship for the average Canadian, and the resulting stress seriously undermines the financial literacy many companies offer their employees through benefit plans and employee assistance programs.

Missing a bonus can cause financial stress

Most people manage regular fixed costs okay but get thrown off by unpredictable …

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