Why Cheques Won’t Disappear Anytime Soon
Retailers stopped accepting cheques several years ago as consumer preferences shifted from paper to plastic. Many feared that the final nail in the coffin for cheques came when the federal government announced plans to phase out cheques for Canada Pension Plan payments and tax refunds by April 2016. After that it will be direct deposit…
Read MoreWeekend Reading: Contest Winners Edition
The financial blogging community is outstanding in the way it supports each other online. It was evident when reading the comments on our anniversary post this week that many of you came here for the first time after a mention on another blog. Our top referring sites over the last four years include Carrick on Money,…
Read MoreHaving That Difficult Money Conversation
Most people will talk about almost anything else before talking about their finances. The best way to teach your kids about money is to share your own financial management details, but who wants their 10-year old blabbing about their income and debts to everyone at school? And, unless you’re in a union-type job with a…
Read MoreCelebrating Four Years Of Boomer & Echo
When I clicked ‘publish’ for the first time four years ago I never thought this blog would have grown into something life changing. What started off as a mom and son blogging team trying to differentiate ourselves in the personal finance niche turned into so much more. Our articles have been featured in the Globe and Mail, MoneySense,…
Read MoreWhy Canadian Investors Aren’t As Savvy As They Think
It’s a sad fact that Canadians know a lot less about investing than they think. Confidence can ride high when markets are rising steadily, but when their portfolio takes a beating, doubt sets in. When more than 4,000 Canadian investors were asked to answer a 10-question investment test only one-third got a passing grade. Only…
Read MoreWhy Options Mean Freedom When It Comes To Retirement
Saving outside of my defined benefit pension plan will give me several options to consider when it comes to retirement. To me, options mean freedom, even though I’ll be faced with some tough choices. Here’s why: Related: Why I save outside my defined benefit pension plan According to my plan provider, I should be able…
Read MoreWeekend Reading: Robo-Advisor Edition
The term “robo-advisor” refers to an online service that uses an algorithm to help you choose and manage your investments. Automated financial advice is already up and running in the U.S. and is now generating buzz in Canada as firms such as NestWealth, ShareOwner, and WealthSimple look to set up shop here. The service is based around clients…
Read MoreChoose A Credit Card That Fits Your Lifestyle
The ability to use credit cards wisely is one of the most important financial skills you can learn. Everyone has different habits when it comes to credit card use and no single approach is best. When we got married in the early 1970’s, my husband dealt with the Bank of Montreal which introduced the MasterCharge…
Read MoreHow Automation And Habit Combine To Produce Amazing Results
Recently I made a small change in my diet that had a big impact on my weight and overall health. At breakfast every day I would eat a whole bagel with peanut butter or cream cheese. The meal came to about 450 calories. A few months ago I cut that portion in half, eliminating 225 calories…
Read MoreFive Year GIC Ladder vs. One-Year Rolling Term: Smackdown
If you have long-term money in GICs, this post is for you. I know, rates are abysmal, and I’m not here to talk you into investing in mutual funds, or ETFs, or to buy bonds directly. If you’re comfortable with GICs, and you can meet your income or capital-preservation goals with them, then keep on…
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