Your RRSP: Key Points for Widows

Your RRSP: Key Points for Widows

If you’ve recently been widowed, make sure you take advantage of the tax-deferred rollover that allows your spouse’s RRSP to transfer into yours with no tax consequences and without needing additional contribution room. With the loss of your spouse/partner you may be concerned about having to save for retirement on your own. If you’re working, … Read More

What is a Credit Score?

What is a Credit Score?

Your credit score is a rating, expressed as a number and often accompanied with a description of what that number means (such as “Good”). It is a representation to potential lenders of how credit worthy you are. Lenders use this rating to decide whether or not to provide you with credit, and if so, how … Read More

What’s in a Credit Report?

What’s in a Credit Report?

A credit report is like an account statement. In it, the reporting agency provides information on your current and past credit activity (usually for 7 years; 10 if you’ve declared bankruptcy). The information in the report is provided to the agency by lenders you have credit with. One credit agency’s report may look different from … Read More

You Manage What You Measure: Keeping Track of Your Money

You Manage What You Measure: Keeping Track of Your Money

There’s an old management dictum that says “You can’t manage what you don’t measure”. This holds true not only in business but also with personal money management. A common mistake is to only take stock of your situation when you’re already feeling financial stress. You can avoid a lot of worries by keeping track of … Read More

Numbers You Should Know to Measure Your Financial Health

Numbers You Should Know to Measure Your Financial Health

When you go in for your annual physical, the doctor will look at certain numbers to determine how healthy you are.  Meaningful numbers to doctors are your blood pressure, your cholesterol levels and blood glucose levels, and your body mass index. If any of those are at harmful levels, your doctor will give you advice … Read More

Make and Use a Financial Calendar

Make and Use a Financial Calendar

Managing your money involves not only tracking your spending, but also monitoring the timing of your expenses. If you’ve never mapped out important financial dates, I recommend getting a regular calendar, preferably one with plenty of room to write on it, and go through this exercise: Mark down the dates that you receive income including … Read More

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