TRENDING  CHOOSING A LOAN AGENCY OR LENDER    

/consumer-education/

Budgeting

/consumer-education/

Budgeting

TRENDING  CHOOSING A LOAN AGENCY OR LENDER    

09.23.2020 / Budgeting

Rebuilding Your Savings Post COVID-19
The COVID-19 pandemic has upended economies all over the world. If you were one of the millions of people who had to dip into their emergency funds to make ends meet, you're probably wondering what financial steps to take next. Should you rebuild savings, or should you focus on paying off debt? The…

09.14.2020 / Budgeting

Pandemic Panic - Debt-Relief Options
Everyone who felt burdened by debt has considered debt relief options at least once. It is only natural to wonder if the many ads promising you an instant solution to your problem could prove true. Unfortunately, the solution is not always instant, and, in some cases, it can make your financial…

09.01.2020 / Budgeting

3 Tips for Budgeting During a Crisis
If your job has been put on pause due to the COVID-19 pandemic, or if you have suddenly found yourself unemployed, you might be reluctant to look at your budget. Don’t hide from your money: You have more control than you think! When you are faced with a crisis, there are ways to reorganize your…

08.24.2020 / Budgeting

Budgeting Tools to Manage Your Spending
Managing your spending is the foundation of personal finance. If you spend more than you earn or spend too much on things that are not priorities for you, then your financial situation will never be in line with your goals. For many people, the idea of creating a budget, and sticking to it, seems…

08.20.2020 / Budgeting

How Much Money Should You Save Each Month?
Saving for the future is something that everyone should do, but the reality is that sometimes it's hard to find room in the budget for savings. If you find that all your money is gone the day after payday, with nothing left to put aside for the future, you're not alone. When you're trying to build…

09.23.2020 / Budgeting

Rebuilding Your Savings Post COVID-19

The COVID-19 pandemic has upended economies all over the world. If you were one of the millions of people who had to dip into their emergency funds to make ends meet, you're probably wondering what financial steps to take next. Should you rebuild savings, or should you focus on paying off debt? The…

09.14.2020 / Budgeting

Pandemic Panic - Debt-Relief Options

Everyone who felt burdened by debt has considered debt relief options at least once. It is only natural to wonder if the many ads promising you an instant solution to your problem could prove true. Unfortunately, the solution is not always instant, and, in some cases, it can make your financial…

09.01.2020 / Budgeting

3 Tips for Budgeting During a Crisis

If your job has been put on pause due to the COVID-19 pandemic, or if you have suddenly found yourself unemployed, you might be reluctant to look at your budget. Don’t hide from your money: You have more control than you think! When you are faced with a crisis, there are ways to reorganize your…

08.24.2020 / Budgeting

Budgeting Tools to Manage Your Spending

Managing your spending is the foundation of personal finance. If you spend more than you earn or spend too much on things that are not priorities for you, then your financial situation will never be in line with your goals. For many people, the idea of creating a budget, and sticking to it, seems…

08.20.2020 / Budgeting

How Much Money Should You Save Each Month?

Saving for the future is something that everyone should do, but the reality is that sometimes it's hard to find room in the budget for savings. If you find that all your money is gone the day after payday, with nothing left to put aside for the future, you're not alone. When you're trying to build…

08.18.2020 / Budgeting

Getting the Most Out of Your Crisis Budget

Creating a crisis budget helps you weather the storm when something unexpected happens. Whether you're in the middle of an emergency now or are planning for the future, a crisis budget is your action plan for getting through to the other side.  Calculate Your Bare Minimum Expenses  The first step…

08.14.2020 / Budgeting

10 Commandments of Budgeting

The best budget is the one you'll stick to. Remember that, and don't get too bogged down, deciding which app, software, or unique stationery to use. Just dive in headfirst and make adjustments as you go. No matter what method you choose, there are a few foundational principles that will help you…

08.04.2020 / Budgeting

Save vs. Splurge: When to Do Both

Conflicting Impulses  Having money complicates life.  When all the bills are paid, and the important things are taken care of, there is sometimes a little leftover.  What to do with that little surplus turns into an agonizing decision.    On the one hand, good old-fashioned wisdom says to save it…

07.31.2020 / Budgeting

Reduce Debt with These 10 Steps 

It is easy to justify debt in the moment, but there comes a point when it has become a shackle.  Carrying a lot of debt is never a good idea, especially in a crisis.  Here are some ways to get rid of that burden.     Stop Accumulating Debt  First, stop the bleeding.  From this moment forward, do…

07.22.2020 / Budgeting

Tips for Buying a Used Car

New cars are flashy and exciting, but they lose value quickly – too quickly to justify the purchase in most cases.  Used cars are often in great shape, with sound construction and just a few extra miles.  When buying used, the process can be a little different, especially when buying from a private…

07.20.2020 / Budgeting

Is the 50/30/20 Rule for You

The Need for a Budget  Creating a personal budget is indispensable for managing money properly.  If the money is being spent without any planning or tracking, the financial situation is always a mystery.  This leads to stress and opens the potential for experiencing a financial catastrophe.  But…

07.15.2020 / Budgeting

How-To Guide: Determining if You Can Afford a Big Purchase

Making a big purchase can be an intimidating prospect.  Cars, houses, boats, college degrees, these things add up and most are essential, but not everyone is wealthy.  So, if a check needs to be written for a larger amount than you’re used to, this article will help to determine if now is the right…

07.13.2020 / Budgeting

Having a Baby? Here’s How to Financially Plan

Getting the Wallet Ready for the Baby  If there is ever a time when financial planning is exciting and imperative, it is when a baby is about to arrive.  Instead of making a plan to get rid of creditors, plan for a new life with a new bundle of joy.  Here are a few key items to take care of before…

07.10.2020 / Budgeting

6 Major Budgeting Mistakes to Avoid

Budgeting is an essential part of managing one’s money.  Without it, money is being spent with no plan for where it needs to go, and a crisis is inevitable.  Having a bad budget is better than having no budget at all, but there is no reason to choose between the two.  Here are a few common mistakes…

07.07.2020 / Budgeting

6 Easy Money-Saving Tips for Big Families

Big Family, Not-So-Big Budget  When a family grows, the budget might not grow along with it.  Some people might see this as a problem, but some folks are willing to sacrifice in the financial department and invest more heavily in the family department!  That said, it can still be difficult to make…

07.07.2020 / Budgeting

Budgeting Emergency Fund vs. Savings

Savings or Emergency Fund?  Saving seems like a straightforward concept.  But that term encompasses so many specific ideas within it, and all of them seem important.    The emergency fund is always a common recommendation, but does it differ from a regular savings plan?  The short answer is yes,…

06.17.2020 / Budgeting

5 Factors that Prevent Debt Payoff

The Battle to Eliminate Debt  Debt can go from an inconvenience to a disaster if left unmanaged.  And even once the struggle has begun to eliminate personal debt, it can feel like a futile endeavor.  Some things just get in the way.  Here are a few things to look out for when trying to be diligent…

06.16.2020 / Budgeting

How to Cut Back on These 5 Common Items in Your Budget

  Most people have a budget of some kind.  Some may have a bigger budget than others, but almost everyone is tied to a monthly spending cap.  Even for someone who has taken the time to make a budget, there are still more ways to “trim the fat.”  There are some common items in almost every budget…

06.15.2020 / Budgeting

Smart Money Moves to Manage a COVID-19 Recession

Many Canadians are concerned about how they will pay bills as the COVID-19 pandemic continues and recession takes hold. Good decisions are the key to weathering this financial storm. It is important to make smart money moves by examining your budget and seeing where you can make critical cuts in…

06.10.2020 / Budgeting

3 Easy Steps to Creating a Simple Budget

Why Create a Budget? For those who have ever been afraid to pull up a bank statement because of yet another overdraft, a budget is desperately needed. Really, every household needs a way to keep track of spending; but a budget is a necessary part of life that not only gives households a complete…

06.10.2020 / Budgeting

5 Small Ways to Save Money

  The Quest for More Money It doesn’t matter how much money is made, there never seems to be enough.  Even after a great raise or new position, the excitement only lasts long enough for a recipient to adjust to a new lifestyle.  Then, ending up with the same small amount left in the bank account…

06.10.2020 / Budgeting

Establishing an Emergency Budget During the Coronavirus

Since reaching pandemic status, COVID-19 has proven to be a major threat to the health and safety of all Canadians. In addition to jeopardizing Canadians’ health, though, the virus has wreaked havoc on many individuals’ finances. The government’s economic response plan outlines details of support…

06.09.2020 / Budgeting

How to Track Your Household Budget

A budget is a financial plan that estimates income and spending over a specific period of time. Using a budget will help you to live within your means by planning your spending and savings. When you track your expenses and create a household budget, you are taking an important first step towards…

06.09.2020 / Budgeting

How to Attack Debt

Debt can be daunting. Especially when each month you continue to receive bills for rent, car payment, student loans, credit cards, etc. and you don’t know how you’re going to pay it all off. Fortunately, there are a few simple steps you can take to help reduce your debt. First, calculate your debt…

06.09.2020 / Budgeting

Basic Money Management Tips

Get organized! Paying your bills on time will help you avoid late fees and penalty charges. Create a list of your current bills. Print a month-long calendar and record the due date of each bill. Make bill paying easier by filing your bills by the due date. Prioritize your debt. Decide if you…

05.22.2020 / Budgeting

4 Necessary Tips for Budgeting the Perfect Wedding

Party Responsibly The average wedding today costs around $35,000.  To put that into perspective, that’s about the cost of a new car.  But even if a couple is fortunate enough to afford it, all weddings tend  to cost more than anticipated or planned.  It is possible to keep a wedding at or under…

04.24.2020 / Budgeting

What Items Are Best to Cut from Your Budget in Tough Times?

Adjustable and Realistic Budgets Finishing a budget can feel like a monumental achievement, but it can’t just be left alone.  A solid budget needs to be constantly tweaked and adjusted, especially when times get tough.  If someone in the household loses a job, if clients dry up, or if sudden…

04.22.2020 / Budgeting

How Much Should You Save Every Month?

Saving is Important  Almost every child had a little piggy bank and was reminded to save their coins while growing up.  It may have even been fun adding to the little savings account for a piece of candy or another small treat.  Now, as adults, the years have added a little wisdom to our lives.  …

04.16.2020 / Budgeting

When Should You Adjust Your Personal Budget?

Don’t Set It and Forget It  Going a long time without a budget can be a huge mistake and getting it back on track can be a grueling process.  Budgets are important, but they need to be accurate, and it can take several revisions to get it just right.  Life happens, sometimes for the better,…

04.15.2020 / Budgeting

5 Important Key Categories in Every Budget

The Importance of a Budget  Budgeting is not typically something people enjoy as it can be tedious and time consuming.  However, the purpose of budgeting is to identify the money that is coming and going, minimizing stress and unnecessary worry.  Once you get into the habit, it doesn’t take very…

03.17.2020 / Budgeting

How to Vacation on a Budget

Don’t Let Spending Ruin the Trip  Who doesn’t love to dream and indulge in the travel brochure that talks about cutting loose and living large?  With that said, money concerns should never ruin a vacation.  It is possible to vacation on a budget, with just a little thought and preplanning.   …

03.10.2020 / Budgeting

5 Inexpensive Home Renovations that Add Value to a Home 

Strategic Improvements  The Do It Yourself craze has officially swept the world, and more and more people are itching to make renovations, additions and improvements to their homes.  But many are finding that once their updates are made, they have a hard time re-selling the house.  While passion…