Canadian Mutual Funds: A Steep Price For Underperformance
Investors in Canadian mutual funds pay a steep price for underperformance. In a 2015 Morningstar report on mutual fund fees, Canada ranked dead last among 25 nations – with expense ratios on equity mutual funds averaging 2.35 per cent in Canada versus an average of 0.84 per cent in the United States. Couple that with…
Read MoreWeekend Reading: Financial Literacy Edition
November was financial literacy month but you wouldn’t know it from any specifically promoted ‘literacy’ articles on this blog. I take issue with the way banks and investment firms try to shoe-horn their way into the financial literacy curriculum when a good portion of the content should be about educating Canadians on how to become savvy…
Read MoreBoost Your Rewards With The Amex Refer A Friend Program
When I reviewed the best credit cards in Canada a few months ago I touched on the fact that I took advantage of several sign-up bonuses in order to boost my rewards. I found that the best card issuer for these types of bonuses – hands down – is American Express. What I look for is…
Read MoreSpend Less Or Earn More?
It’s been said that it’s a lot easier to spend less money than it is to earn more money because it does not take as much effort. But is this really true? It does take some time and effort to do such money-saving tasks as preparing a meal plan, grocery shopping from a detailed list,…
Read MoreHow I Turned A Blog Into A Profitable Online Business
So I have to start off by telling you that the title of this post is a bit misleading because it makes me sound like some kind of online money making guru – and I’m not. I mean, I think the easiest way to build a six-figure blog is to find a job that pays six-figures and…
Read MoreHow To Supercharge Your RRSP
The idea that an RRSP loan can boost your savings and generate a higher tax refund does not sit well with most people. If you can afford the loan payment then why not just budget and save that amount in the first place instead of borrowing? In The Wealthy Barber Returns, author David Chilton describes a strategy…
Read MoreFinancial Management By The Decade – The 30’s
When you get to your 30’s, trying to balance your finances can become overwhelming. Most people find themselves juggling responsibilities of buying a home, mortgage payments, paying for a wedding, starting a family, and somehow trying to save for retirement. You are still early in your career with growing demands at work, and the money…
Read MoreThe Waiting Is The Hardest Part
I spent a lot of time in my late teens and twenties waiting for my financial life to improve. Buried in debt and not making a lot of money, I’d visualize how much better off I’d be if I could just hold out until my next paycheque, or until I got my next raise. I’d picture paying…
Read MoreWeekend Reading: FinTech Edition
There’s a disruptive shift happening in the financial industry where nimble technology start-ups are moving in on traditional bank-dominated services such as lending, investing, payments and retail transactions, and everyday banking. Dubbed FinTech, this financial technology renaissance is quickly moving from alternative to mainstream and is something to watch in 2016 and beyond. We’ve already seen…
Read MoreGet A Handle On Your Expenses: Simplify And Save
I challenged readers a while back to take a day off during the week to work on their finances. That means going through recurring bills, such as cable, internet, bank fees, car insurance, and monthly subscriptions to ensure you’re getting the best bang for your buck. You might also use the time to look for…
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