Personal Finance

Inflation targeting has been the cornerstone of monetary policy in Canada since 1991. The Bank of Canada aims to keep inflation rates at the 2 per cent target, the midpoint of the 1 to 3 per cent inflation-control target range.

I recently took a trip to our local Antiques Mall. Imagine my surprise when I saw items that I had received for wedding presents.

Now I don’t subscribe to the Lotto Max retirement plan myself, but I have to admit that a lump sum payment of $1,000,000 or more sounds like financial freedom to me.

At the beginning of each year I take a look at the previous year-end financial statements and review my portfolio. I use a spreadsheet that tracks the performance of my savings and investments and this assists me in deciding whether to make changes in the coming year.

Apply these steps in your own life over the next few months and you’ll be well on your way to a complete financial makeover.

If you think you could have made better investment decisions, it may be time to get some personal financial advice.

One of the benefits of setting up a monthly budget as well as forecasting income and expenses is that at the end of the year I can review each of the areas where we spent our money and make improvements for the future.

Somewhere in between the holiday shopping, decorating, baking, kid’s school pageants, and parties you should take a moment to think about any financial issues that could be taken care of before the end of December.