Category Archives: Debt Management

Whenever folks are asked what they’d wished they’d known about money sooner, most people (particular those approaching retirement) say: Saving and the power of compounding, Lifestyle inflation and the debt slavery that it can lead to, and How to save on the big and small things in life. So much… Read more

Here are a couple of words you don’t see put together much: hyperbolic discounting. It’s what the whole Marshmallow Test is all about and it’s yet another cognitive bias that helps us make quick decisions that don’t always work out for the best. In the 1960’s a psychologist named Walter… Read more

If you’re one of the people who is watching as jobs in your industry evaporate, no doubt you’re beginning to twitch. Job loss comes with two big stressors. First, there is the financial stuff that you need to figure out. Second, there is the emotional misery that you must wade… Read more

People equate financial freedom with being rich. What exactly is “rich” anyway? Ask a dozen people how much money they’d need to feel rich, and you’ll get a dozen different answers. Give them some money, ask them again, and watch the bar for “rich” rise. If, like me, you define… Read more

When it comes time to finance your next big purchase, you’ll face a number of important decisions. The first, and arguably most crucial, will be how you finance. For instance, if you plan to pay off your purchase within 30 days, you might consider charging it to your credit card to earn… Read more

In our present-day culture, successful entrepreneurs are idolized. The Mark Zuckerbergs and Elon Musks of this world are looked up to by multiple generations. However, what is usually hidden from public view is the fact that many ultimately successful entrepreneurs had to struggle in the beginning with mounting piles of… Read more

Many Canadians are self-employed, running their own small business. In many cases they started the business using their credit cards or other personal resources to fund start up costs and initial expenses. It is not uncommon for the business to start slowly, whichcan can lead to debt trouble. Approximately 10%… Read more

This is a guest post by the experts at Ratehub.ca There are several milestones in life, but none as sweet as when your monthly expenses no longer deplete your bank account. Getting there is less about the amount of money you earn than about how well you manage expenses and… Read more

Is it possible to have a mortgage that is simply too large? Here is the conventional wisdom: Buy as big a house as you can afford, because long-term house prices always go up, so you can’t lose. or It’s okay to take out a bigger mortgage to increase your leverage,… Read more

Buying a home is the single largest financial investment most of us take in our life. Over the past number of years, we have becoming very used to low mortgage rates. Some younger Canadians know nothing but low rates, but low rates haven’t always been the norm. Remember the 80’s?… Read more