Schools typically provide a standard curriculum – mathematics, literature, languages, history, geography and the like; but conspicuously absent are any life skills such as a financial education. We have students graduating from high school that know when the Magna Carta was signed, but often with no concept of money. Finally Ontario is going to begin teachingfinancial skills to high school students.
Financial skills: Why do we need the schools to teach financial literacy?
“Canadians don’t understand the basics,” says Laurie Campbell, CEO of Credit Canada Debt Solutions. Many adults, she says, struggle with simple concepts like spending less than they earn.
Financial skills: The Investor Education Fund study
An Investor Education Fund study revealed:
Only 44% of parents believe their children are ready to manage money
Only 39% of high school students feel prepared to manage their finances after high school
84% of parents and 70% of high school students want financial learning in the classroom
Financial skills: Students are looking for financial education
Tricia Barry, executive director of Money School Canada and a former banker, says that students know little more about money than they did five years ago. Ms Barry believes that:
By the time school students are in Grade 8 they should have an understanding of the concepts of income, expenses and interest; but they don’t
When they graduate from Grade 12, they should have a solid understanding of saving, smart spending, budgeting, borrowing and credit cards; but they don’t
According to Ms Barry, there is a direct correlation between the lack of money management training and the fact that more than 33% of those ranging in age from 18-29 are burdened with a debt of $10,000 or more.
Financial skills: Will all Ontario students be taught financial literacy?
At the moment financial skills courses will be rolled out as pilot projects at 28 high schools for 700 Grade 10 students. After the pilot projects are completed in June 2018, teachers and students will be asked to provide feedback. Based on the feedback provided, a financial skills mandatory careers course will be designed and implemented in the fall of 2018. In addition to financial skills the students will learn entrepreneurship and digital literacy in addition to career and life planning.
Schools need to lead the charge when it comes to financial literacy. As you can see by the alarming statistics ofCanadian household debt, we can’t expect our young people to learn good money management skills at home. Knowledge is power and we need to do something to stem the tide of uncontrollable debt.
Financial skills: Do you need help with your debts?
Not only should financial skills be taught in high school but in elementary school as well; and the earlier the better. It’s time to break the cycle of debt while you still haveoptions. Give theIra Smith Team acall. We’ve got years of experience helping Canadians just like you, get back on track to debt free living. We can help.
All of the financial experts stress the importance of saving, and they’re right. We’ve frequently blogged about it. We have also talked about the need to maintain an emergency fund savings strategy. Saving creates a solid foundation for living and for securing a comfortable retirement. In fact saving can even be taught to pre-school aged children.
Emergency fund savings strategy: Angus Reid Forum and Capital One survey
Sadly all this talk seems to be falling on deaf ears. According to a survey conducted by the Angus Reid Forum and Capital One, 33% of Canadians admit they don’t put anything into their savings on a monthly basis. And, instead of saving, they’re splurging on non-essentials.
Emergency fund savings strategy: What are Canadians splurging on?
The Angus Reid Forum and Capital One survey found that Canadians seem to really enjoy indulging themselves. And the amount of money they spend on these non-essentials really adds up.
72% dine out several times/month
71% regularly order takeout
50% buy daily coffees
44% are online shoppers
33% indulge in clothing purchases
23% spend on beauty services
Emergency fund savings strategy: Why is it so easy to splurge?
We now live in an almost cashless society. “It’s easier than ever to order in, hail a ride and shop online without ever opening your wallet, but you can lose sight of where your money is going if you’re not careful,” Capital One Canada CEO Brent Reynolds said in a news release. Years ago it was easy to keep track of what you spent because every time you made a purchase you had to pay with cash; if you didn’t have the cash, you didn’t make the purchase.
Emergency fund savings strategy: How can you get back on track if you’ve been overindulging?
There’s nothing wrong with splurging once in a while, as long as you’re saving. Make a budget and stick to it. Save before you splurge. Create an emergency fund for unexpected expenses or changes in your employment situation. Have a plan for your retirement.
Emergency fund savings strategy: Do you have too much debt?
If you’ve really overindulged and you’re at the stage where you can’t make your monthly payments, you need professional help; and you need it now. Contact a professional trustee.
The Ira Smith Team has a cumulative 50+ years of experience helping people who are facing a financial crisis and we deliver the highest quality of professional service. Make an appointment for a free, no obligation appointment today and Starting Over, Starting Now you’ll take your first steps towards financial freedom.
What’s more important – saving or reducing debt? Should I focus on debt elimination or invest excess funds? Should I invest or reduce debt.
These are age-old questions that I’m frequently asked and there isn’t a one-size-fits-all answer. Let’s get back to basics and figure out what your income and expenses are before I can answer whether it’s better for you to save or reduce debt.
Debt elimination: Create a budget
Everyone should have one. The reality is that many people spend what they earn but don’t really know what they’re spending their money on. A budget will find how you’re currently allocating your money – which may be very different from how you should be allocating it.
Detail your income
Itemize your fixed expenses which are the same each month – housing, insurance, payments on loans, etc.
List your variable expenses which are flexible and will vary from month to month – groceries, gas for the car, cell phone, etc.
Identify your optional expenses which are non-necessities – meals out, clothing, vacations, etc.
The good news is that to ask “Should I invest or reduce debt”, that means your budget should confirm that you have an excess of income over expenses each month. It also means that you can see that monthly cash excess in your bank account.
Debt elimination: Determine what type of debt you’re dealing with
The reality is that not all debt is created equal. Credit card debt could be costing you 20% interest or more per annum. And, if you have any payday loans, the interest rate could be over 500% (no, this isn’t a typo). High interest debt costs a fortune; pay it off as quickly as possible.
Debt elimination: Create an emergency fund
I always recommend that you have an emergency fund of three to six months worth of living expenses. Job loss or an unexpected expense can put you in a financial danger zone if you’re not prepared.
Debt elimination: Where can you find the money to pay off high interest debt and create an emergency fund?
Go back to your budget and have a good hard look. How many of your optional expenses can you cut or cut back on? E.g. Forgo the vacation for now, don’t buy those really cute shoes, etc.
How much of your variable expenses can be reduced? E.g. Shop at a discount supermarket and price match/use coupons, comparison shop for better cell phone plans, drive less/take public transit more, etc.
You’d be amazed how much money you’ll be able to save and put toward paying off high interest debt and creating an emergency fund.
Debt elimination: Should I invest or reduce debt?
The answer to the question about what’s more important – saving or reducing debt, lies in your budget. If you have high interest debt, pay it off first. If you don’t have high interest debt then you can work on both reducing debt and saving and investing at the same time.
Debt elimination: Are you struggling with debt elimination?
It’s important for kids to start learning about money at a young age. Financial literacy for kids is important so that they’ll be ready for the financial challenges of adulthood. Even something very simple like teaching a preschooler to save money in a piggy bank can be a good foundation for becoming financially literate and set up good money habits for life. That is why I put together this very simple three-step financial literacy curriculum.
Financial literacy for kids: Parents should prioritize a great financial literacy education for youth
In a world of virtual money with credit cards and online banking, our kids don’t often see transactions with money changing hands. Children are keen observers and they learn by example. If you create a program of financial literacy for kids, your children will be willing and eager students.
I heard a funny story about a mom and her young daughter. They were out and about and the child wanted her mom to buy her something. The mom thought the easiest way out was to say she had no money. So the child said, “You can go to the green machine and get some”.
The child understood that the ATM gives you money. But she had no idea about where money really came from or its value. Financial literacy for kids will teach them an appreciation for the value of money. They will know it is not earned easily. Parents need to teach their children about where money comes from, its value, saving, budgeting and goal setting.
Financial literacy for kids will also teach them about the need to make choices and that instant gratification through purchasing is wrong. And remember, children learn by example so make sure your financial house is in order. Financial literacy for kids is best taught when your children grow up in a household knowing and feeling that you and they are living the principles that you are teaching.
Financial literacy for kids: Teaching your kids of all ages about money should be part of your everyday life
Here is my simple 3 step financial literacy curriculum for great financial literacy education for youth:
Pre-schoolers: A piggy bank is an ideal way to instill the concept of saving.
Ages 5 –10: Take your child to the bank and open up a savings account for them. Help them to goal set. Is there something special they want to save up for? Every time they have some money to deposit take them to the bank and have them give the cash to the teller. You can also reward them financially for doing extra chores so that they begin to understand the concept of working for money. Set up an allowance system and teach them to save part of their allowance. Leave some of their money to spend on themselves, introducing the concept of budgeting.
Ages 10 –16: By now your kids should have an understanding of saving, working for money and budgeting. As they get closer to 16 they can begin working outside the home for extra money by babysitting, mowing lawns or having a paper route. Now is a good time to introduce the concept of credit, how to manage money and what happens if you don’t manage money properly. If they have mobile phones they should be taught how to keep track of their mobile data and what their limits are. You should also make sure that they know it is better to always check to make sure they’re on wi-fi so that they don’t run up big data bills.
Following these 3 simple steps in teaching financial literacy for kids will instill the necessary basic financial concepts. Your child will be well equipped to handle the financial challenges, issues and choices they will face in adulthood.
Financial literacy for kids: Everyone needs a financially healthy life
To instill the lessons of living a financially healthy life, you have to not only talk the talk, but you have to walk the walk. Perhaps you were not given the benefit of great financial literacy for kids when you were growing up.
We all want a comfortable retirement living but many Canadians haven’t got a clue how to make that happen. Your financial health is never a matter of chance, unless you’re a big lottery winner; it takes careful planning and you need to make saving a habit. All the retirement blogs say so.
I can see many of you rolling your eyes now and wondering how you’re supposed to think about saving when you’re trying to make ends meet. But, without a plan your financial situation will never change.
Comfortable retirement living: You need a comfortable retirement budget
Are you thinking about your retirement? If not, now is the time. Research has shown that people who have a plan often save more money and are financially healthier than those who don’t.
Those who thought about retirement — “a lot,” “some” or even “a little” — approached retirement age with twice the wealth of non-planners (2007 Pension Research Council study)
Simply using a retirement calculator increased someone’s likelihood of saving (Journal of Consumer Affairs in 2011)
Parents who created a plan to pay for their children’s college educations saved 76% more than parents who saved but didn’t have a plan (Sallie Mae’s How America Saves for College 2016 report)
Households that plan for large, irregular expenses are 10 times as likely to be financially healthy as those that don’t (Center for Financial Services Innovation study in 2015)
Comfortable retirement living: What is financial health?
What exactly does financial health mean? The Centre for Financial Services Innovation has described financial health as having emergency and retirement savings, sustainable debt loads, good credit scores and property, life and health insurance. Are you financially healthy?
Comfortable retirement living: What is a comfortable retirement definition?
How do you define comfortable retirement? CANSTAR Pty Limited, a privately owned Australian research agency that provides finance comparison services, has what I think is a very good definition:
“…one which enables an older, healthy retiree to be involved in a broad range of leisure and recreational activities. It allows funding for private health insurance, a reasonable car and regular holidays (domestic and occasionally international)…”
Comfortable retirement living: How can you become financially healthy?
Everyone needs a plan – not just for retirement, but for more immediate goals like having enough for the monthly expenses. A financial plan always involves a budget and I can’t stress enough how important a budget is.
Once you have a plan in place you can start saving. It doesn’t have to be huge amounts of money, but just enough to start making saving a habit. Start building a little emergency fund. Once you follow the plan and make saving a habit, you’ll be well on your way to financial health.
We can’t stress enough how important a household budget form is to your financial security planning process. Many Canadians are under the mistaken impression that budgets are only for people in debt.
Nothing could be farther from the truth. Everyone, regardless of your net worth or the amount of debt you’re carrying needs a budget. It’s the only way to control your money and make sure that you and your family are financially secure and achieving long-term financial security.
Financial security planning process: 6 great reasons why you need a household budget form
Still not convinced? Here are 6 great reasons why you need a household budget form:
A budget gives you control over your money: A budget is a list of all revenues and expenses. It allows you to plan how you want to spend your money. Instead of money just flying out of your wallet, you make intentional decisions on where you want your money to go. You’ll never have to wonder at the end of the month where your money went or look for a hole in your wallet.
A budget keeps you focused on your financial goals: Budgeting will allow you to meet your financial goals – paying down debt, funding a retirement savings plan, buying a house… – as long as you follow it religiously. With a budget you’ll know exactly what you can afford and you can divide your money appropriately. E.g. If your immediate goal is to save for the down payment of a house, then you may have to forgo that vacation you wanted to take. Your budget will tell you exactly what you can or can’t afford.
A budget will make sure that you don’t spend what you don’t have: Credit cards are a great convenience but they also make it really easy to spend because there is no cash exchanged in the transaction. Many Canadians rack up serious credit card bills and land up deep in debt before they realize what’s happened. When you use and stick to your budget you have to account for everything you spend, even if it’s a credit card purchase. You won’t wake up deep in debt, wondering how you got there.
A budget will prepare you for the unexpected: Every budget should have a rainy day fund for those unexpected expenses. It’s recommended that you should budget for three months worth of expenses for when there may be an unexpected lay off or other unplanned for major expense. Don’t be alarmed; you don’t have to put away all the money at once. Build your fund up slowly.
A budget reduces stress: Many Canadians panic every month about where the money will come from to pay their bills. A budget will give you peace of mind. It shows you how much you earn and what your expenses are. If need be you can reduce unnecessary expenses or take on extra work to live within a balanced budget. No more panicking at the end of the month.
A budget can help you afford the retirement you’ve been dreaming of: Saving for your retirement is very important and your budget can help you save for your future. Set aside part of your income every month for retirement savings. Start early and consistently stick to it. The money you save now will dictate the kind of retirement you can expect.
Financial security planning process: What to do if you don’t have a household budget form and know you need one
A budget is your ticket to financial security. If you don’t have one yet, start budgeting today. Below you will see the link to download our free household budget form.
I want to save money but how? How can you start saving money?
Before you can save money you need to know what you’re spending on. Make a list of everything that you spend money on – even small things. You may be shocked to learn where your money’s going. Then go on a shopping diet.
I want to save money but how? What is a shopping diet?
A shopping diet is no different from going on a food diet. Determining what to cut out or cut back on is tricky business. You need to reduce spending significantly to save, but still leave yourself a little money to buy some extras or you’ll never stick to it. It takes willpower and self-control. Dieting is not fun, but it beats the alternative.
I want to save money but how? 12 tips for going on a shopping diet:
If you’re still smoking, stop now! In addition to the serious health ramifications, a pack a day habit/month can cost as much as a car lease, all of your utilities or a large part of your rent.
Cut out or drastically cut back on designer coffee/tea. Did you know that a latte a day can set you back as much as $1,500/year?
Swap department store face products for drug store face products. They’re just as good and you can save thousands.
Review your plans – cell phone, cable TV, internet… and make sure you’re getting the best deals.
Don’t automatically renew your car insurance and/or house insurance. Call around different to companies and brokers to make sure you’re getting the best prices.
Go to a supermarket that offers the best deals or allows you to price match. Shopping at the most convenient place may add up to 25% to your grocery bills.
Try a no-frills hair salon instead of a fancy salon. You’ll be shocked at how much you can save.
Take public transit where possible instead of paying for gas and expensive parking.
Cut back on your bar bills. Sharing a bottle of wine with dinner can cost more than the dinner. A few beers with your mates after work on a regular basis can add up to a pretty penny.
Do you really need a new wardrobe? A few new pieces on sale may do the trick.
Stay away from the make-up counter. How many lipsticks and eye shadows do you really need?
Stop impulse shopping! Shop with a list and a purpose.
I want to save money but how? Do you need an experienced trainer to help you go on your shopping diet?
A shopping diet goes hand in hand with a budget. Now that you realize how much you can save by going on a shopping diet, you’ll be able to live within your means and save money.
If you feel like an out of control spender and are in serious financial trouble, or heading there, contactIra Smith Trustee & Receiver Inc. today. We can help get you out of debt Starting Over, Starting Now. With immediate action and the right plan you’ll be on your way to debt free living and saving for the future.
My top 10 debt reduction program steps is for anyone to start immediately to reduce or eliminate debt in order to regain control of your life. By following these steps, there is no need for you to seek out a debt settlement company. I am giving you a foolproof program for free. Debt settlement companies would charge you thousands of dollars for this information!
1. Debt Reduction Program: Say No To Debt
When you have determined, “I’ve had it”, take your charge cards out of your wallet. Then follow your budget (which means you have one) as well as swear NO MORE DEBT. No ifs or buts … no more debt, NO MATTER WHAT. Either lock the charge cards away, or even better, cut them in half and send them back to each issuer. Ask that they no longer send you any and that your account should be capped at its current balance.
2. Debt Reduction Program: Take Your Head Out of the Sand
Determine your revenue, your monthly costs, and your financial debt total amounts. Acknowledge your past errors with money and progress. Today is a brand-new day as well as you are no more living in denial about your financial resources.
Every financial choice from now on should be based upon a plan. A plan that is based upon realities. Facts from your budget as well as financial goals.
3. Debt Reduction Program: Develop a Monthly Budget (with your spouse or partner if you are not single)
If you are to do just one of these ten practices, please do this one. Living by a written budget is the ESSENTIAL trick to living a financially secure life. When you prepare a monthly budget plan, there was no other way in refuting that you were investing $400+ in totally optional spending on non-essential items; $20 there and $50 here that were amounting to $100’s every month … WASTED!
Your written spending plan provides you with a strategy to spending cash on what you “need” as well as “want” and NOT losing it away. Do you recognize the ordinary person making $50,000/ year will have over $2 MILLION go through their fingertips??? Don’t YOU want to have a plan for those $$$?
4. Debt Reduction Program: Cash not credit
Yes, using cash can be bothersome and a hassle but it is IMPOSSIBLE to spend greater than you have and go over budget. It also hurts a lot more to use cash money then simply swiping plastic.
Those adorable shoes do not look so cute when you think of handing over the last bill in your pocket. It would most likely be easier to live without the most up to date digital gadget when you think of taking all that cash out of your wallet. At that point, your current phone, while not the latest model, looks pretty useful all of a sudden!
Try it. After a few months you will see how your costs reduce. Your behaviour will transform so significantly that you will be shocked how much money you have used unnecessarily in the past.
5. Debt Reduction Program: Priorities
Your financial decisions mirror what you as well as your household regard as a top priority in your life. This will be noticeable in your month-to-month budget plan.
Establish your family’s top priorities. Make certain your regular monthly budget mirrors these top priorities. With a proper budget, you may begin to seem like “inadequate me, I don’t really go out to dinner.” Remember your family has various top priorities and you are compromising one meager dish at your favorite restaurant to have a lifetime of financial safety and security. This definitely puts things in perspective when you are in a moment of weakness.
6. Debt Reduction Program: Remove Temptation
Do not set foot in your preferred non-essential shop. If the lure is not there, you will not spend money on things you do not need. Attempt to restrict on your own to only food store. Shop with a checklist as well as stay with the checklist.
If you have difficulty with internet shopping, unsubscribe from store e-mails that promote sales and new products. You are as well concentrated and functioning also hard on your financial goaks to have a slip up on something that was not in the budget plan.
7. Debt Reduction Program: Free Entertainment
Sometimes this financial debt elimination phase is going to seem like it has drawn out all the “enjoyable” things in your life. Just because you are on a tight budget does not mean you shouldn’t enjoy your new life.
Choose cost-free or cheap entertainment. Activities such as walking, barbecue in the park, borrow publications & flicks from the library (yes, they still exist!), free concerts in the park, playing cards and other games, volunteering your time, digital photography, checking out a museum or historical site on a “cost-free entry day.” The possibilities are unlimited, be innovative!
8. Debt Reduction Program: Decrease Food Expenses
Food can be one of the highest costs in your budget plan (2nd to housing). Great news, there are MANY ways to lower the cost of food.
Grocery Store: Have a listing. Use “Budget Friendly Recipes” to make a dish strategy to stay clear of food waste. Do not acquire or dramatically decrease the buying of already prepared foods (anything pre-cut, pre-cooked, pre-prepared).
Dining establishments: Avoid them as long as possible. Cooking a meal in the house will certainly ALWAYS be less costly than eating at a restaurant (unless somebody else is picking up the tab). When you do eat at dining establishments use vouchers, Groupons, happy hour price cuts, as well as basically anything to lower the price.
9. Debt Reduction Program: Team Work
I could not stress enough how crucial it is, to collaborate with your spouse or partner with your financial resources. You are in this with each other. When one of you is having a harsh day, the other needs to urge and remind you why you are sacrificing, why you got on this trip.
One of you might take on the role as the captain, pushing your “team” to the absolute limitations to pay off financial obligations. It might be the spouse or partner who is the MVP, that continuously gets you through the battles and the “bad days”.
10. Debt Reduction Program: Develop Goals
When your financial priorities are established, it will be simple to jot down goals. I recommend composing one or two short-term financial objectives. Your financial goals may be something like:
Eliminating our home equity line of credit balance by February 2019
Having a cash reserve of $2,500 in case of an emergency
Reward ourselves by taking at least 2 vacations in 2020 because of what we have accomplished so far
Now that you have your objectives developed, this is where you need to circle back to make sure that it is accounted for in your written budget. Your objectives will certainly aid you to stay focused and also provide you inspiration to continue your financial trip.
Debt Reduction Program: What if you haven’t started to reduce debt early enough?
Are you too deep in debt? Is the monthly interest charge on your credit cards more than your monthly amount available to pay down the credit card debt? Being threatened with lawsuits or being sued?
Then you need to consult with a licensed insolvency trustee for some surgery. All of the 10 points listed above will be part of your financial rehabilitation. However, you need to have the time clock stopped now to give you breathing room.
A licensed insolvency trustee can develop such a plan for you and get you the relief you deserve and need. The Ira Smith Team has much experience in handling debt problems like yours. We have helped many people and companies return to financial health and live a stress-free life.
Contact the Ira Smith Team today for your free consultation. We will develop a practical plan for you to get out of debt and regain control over your life, Starting Over, Starting Now!
Cars can mean many things to us including freedom, status, power, sex appeal or basic transportation. It also seems to mean auto loan debt. Fueled by low-interest rates, 2016 saw Canadian passenger car sales hit a record high for the third straight year. It appears that 2017 is continuing the 2016 trend; not just for car sales, but also for Canadians’ willingness to take on auto loan debt.
But, can you afford that car you’re driving? Or will it put you into debt beyond your means to repay? And in the wonderful world of debt, car debt may be bad debt. So, if you have wanted to start taking on auto loan debt but were afraid to get started, this blog may help you decide what to do.
Auto loan debt: Why may car debt be bad debt?
According to DesRosier Automotive Consultants about 85% of car purchases are by Canadians are purchasing passenger cars with debt. “In Canada, automakers are selling about 41% of vehicles with loans of at least six years or leases of at least five years”, said Mark Buzzell, chief executive officer of Ford Canada.
A new car will lose 60% of its total value over the first five years of its life (CARFAX)
Longer-dated loans significantly increase the chance that an owner ends up owing more than their car is worth (Financial Consumer Agency of Canada)
The share of Canadians trading in vehicles with negative equity rose to 30% in 2015, and on average they were underwater by about $6,700 (J.D. Power)
Auto loan debt: What can be done to prevent Canadians from buying cars they can’t afford?
Ford Motor Co. is seeking to limit the growth in long-term auto loans and leases in Canada. Ford wishes to slow down consumers trying to stretch out payments for as long as eight years to afford a car. However, regardless of what Ford’s doing, low-interest rates and longer amortization makes buying cars we can’t really afford an attractive proposition. People are looking merely at the monthly payments to figure out how large and fancy a vehicle to buy. They are not considering their true needs and affordability.
As of February 2017, sales of luxury cars accounted for nearly 60% of Canadian vehicle sales. This is five times their normal share, according to a March 13 Scotiabank report. The reality is that we need to exercise common sense and financial restraint when purchasing any big-ticket item. And let’s not forget about using a budget to help live within our means.
Auto loan debt: What to do if you have too much debt
Are you now in debt because you purchased or leased a car you couldn’t afford? The Ira Smith Team is here to get you back on track to debt free living Starting Over, Starting Now. We can solve your problems with immediate action and the right plan for moving forward. All it takes is one phone call to book your free, no obligation consultation. Call us now.
In these challenging times it’s even more important to stay on top of things financially. Sticking to your budget, saving money and getting organized should be top of everyone’s mind. I know it’s difficult but there are some free personal finance apps that can help. Everyone is looking for the best personal finance app and the ones I noted below are good.
Our favourite 3 free personal finance apps to help you save money
Flipp: Flipp combines all the flyers in your area (when you register you input your postal code) and allows you to search by item, showing you the best deals. For added convenience, shop at a store that allows price matching (Superstore, Wal-Mart, No Frills and others). Use Flipp at the cash (instead of paper flyers) to get the lowest prices. Flipp is not just for groceries; it’s good for just about everything including electronics, home and garden and pet needs.
GasBuddy: GasBuddy lets you comparison shop for the best gas prices in your area. When you register you input your postal code. With the prices at the pumps, who doesn’t want to save a few bucks painlessly?
Canada Post’s epost: Did you know that Canadians are paying between $495 million and $734 million a year to receive paper bills or statements from communications and banking companies? This is according to a report by the Public Interest Advocacy Centre.
It makes good sense to get all of your bills online. You can contact each of the companies that you do business with individually or get all of your bills online and in one place with Canada Post’s epost. It will also store your statements for up to seven years. So, if you ever get audited by the CRA, you’ll have proof of your expenses.
Of all the free personal finance apps, Wally is our favourite to help you get organized, budget and Control your money seamlessly
Wally: Wally allows you to enter your expenses and organizes them into categories. It has a handy feature called InstaScan that captures relevant details from a photo of your receipt. It then populates your budget with the information. If you want to see where you’re spending money, Wally can show that to you using GPS. Another plus for Wally is that you’re not sharing your financial information with a third-party.
I think Wally is one of the best, if not the best personal finance app for 2017. It is a great best budget app for iPhone or android.
Free personal finance apps: What to do if you have too much debt and can’t get on a budget
If you’re experiencing serious financial issues, I’m afraid that there isn’t an app to magically save you. There is help available in the form of a professional trustee. Ira Smith Trustee & Receiver Inc. is an insolvency and financial restructuring practice for people and companies in the Greater Toronto Area (GTA) facing financial crisis. Our specialty is serving people and the private company entrepreneurial market, regardless of size. We offer a high quality and cost-effective service. The fact remains that if you do not earn enough it will be difficult to save enough, try this site out for size, modernize your income sources with what is available on the internet. Give us a call today and Starting Over, Starting Now you can put your financial problems behind you.
Financial literacy for kids: Introduction
Comfortable retirement living: Introduction
Financial security planning process: Introduction
I want to save money but how? Introduction
Free personal finance apps: Introduction