Some Jerk Stole Your Identity…What Now?

What to do if your identity gets stolen?

The recent Equifax hack has plenty of people concerned about identity theft and curious to know what steps they can take to keep their information protected. I’ve been lucky (knock on wood) and have never had to deal with a serious case of identity theft. I have had fraudulent charges on my credit card, but that’s so common now that it almost feels like a right of passage. Those are fairly easy to deal with. In my experience, I was able to contact my credit card company and have the charges overturned within a week. That meant I was never actually out […]

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The Equifax Hack and its Canadian Impact

How the Equifax Hack Impacts Canadians

Hey guys, I know I don’t usually have a post for you on Mondays, but I wanted to stop by today with a quick update about this Equifax breach. By now you’ve likely heard about how Equifax was hacked and a whole bunch of people are now at risk of identity theft because they’re personal information was compromised. It’s a bad situation. A huge, messy, complicated problem that is affecting many people, including those of us in Canada. But I’ve never heard of Equifax, so I must be safe… Not so fast. Unfortunately, even if you haven’t heard of Equifax, […]

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Mapping My Money

Mapping My Money

There has been a trend going around in the personal finance community recently, and that’s creating your money map. This all stems back to two bloggers (Apathy Ends and Budget on a Stick) who published their money maps and inspired the rest of us to do the same. Today I’m jumping on the bandwagon and sharing mine. So what is a money map? For any of you who haven’t already seen one of these posts somewhere else, you’re likely wondering ‘what the heck is a money map?’ Simply put, it’s a fun little graphic showing where your money comes from […]

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10 Steps to Organized Finances

Maybe you’re sitting there looking through credit card statements and bank transactions wondering how the heck you got yourself into this financial mess. Or maybe you think you’re on the right track but not quite sure what you need to work on next. Today I’m going to break your finances down for you into 10 steps, so you have a coherent plan (and a fun little infographic) to follow. The system is straightforward, but I’m not going to tell you it will be easy. Paying off debt, saving money and applying for insurance require you to do some work and […]

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Should You Dip Into Your RRSP?

Is it a good idea to withdraw money from your RRSP to cover debt?

Life is anything but predictable, and sometimes a curveball will come flying out of nowhere. Maybe you’re coasting along quite nicely when, all of a sudden, your furnace bites the dust or your dog swallows a tennis ball and needs emergency surgery. Whatever it is, you are now stuck with a big bill and aren’t sure how you’re going to cover the cost. The question you might be asking yourself is whether or not you should consider withdrawing money from your RRSP.  Short answer…No. Don’t worry, I’m not going to just assume you’ll accept the short answer so, long answer time.  […]

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5 Money Lessons I Wish I Learned Sooner

What I Would Teach My Younger Self About Money

Through my 30 years of living, I’ve had moments where I’ve been great with money and moments where I’ve been down right bad. I don’t have any big ticket purchase regrets, but I’ve bought loads of small items that were a complete waste. And you know why? I didn’t realize the consequences of irresponsible spending until I was much older (and I even had good financial role models in my parents). I was lucky to not get myself into more trouble because of my lack of knowledge. When you’re a teenager you don’t necessarily concern yourself with the future but […]

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Interest Rates are Up, Up and Away

What you Need to Know About Rising Interest Rates

You’ve likely already heard that the Bank of Canada raised their overnight interest rates last week from 0.5% to 0.75%, but do you really know what that means and how it affects you? For the last decade, we’ve been living with historically low rates in Canada. This is the first time in 7 years that rates have gone up. If you’re a millennial like me, you’ve lived almost your entire adult life under these conditions, but that doesn’t mean it’s the norm. Take a look at the graph below; it was way back in 2008 when rates plummeted after the […]

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Financial Literacy is Your Responsibility

Take responsibility for your financial well being by using some of these resources.

I hate the fact that you go through 12 years of school and come out the other side knowing little to nothing about finance. You’ll be taught how to solve complex algebra equations but have zero clue how interest rates work and how detrimental credit card debt can be. I promise you, the ability to do algebra has never once helped me get a job or complete a work project, but knowing how to balance a budget sure has. There has been some movement to correct this, but not fast enough. You know what that means though? You are in […]

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The Fear of Missing Out

Are you suffering from #FOMO?

Have you ever felt pressured into spending money just because you didn’t want to miss out on an experience? I’m going to guess that almost everyone answered with a resounding yes and I am right there with you. Here’s an example… Garth Brooks did a nine concert stand here in Edmonton and it was all everyone could talk about for awhile. Am I a Garth Brooks fan, nope? Did I almost convince myself I should buy tickets to the show just because EVERYONE else was going? Absolutely! But I was talked off the Ticketmaster ledge by my more rational minded […]

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Annual Credit Check Time

How to get your credit report for free

How many of you check your credit score every year? I’m sure there are a lot of you out there who are just like me and really, truly mean to check it every annually but sometimes it just gets pushed off again and again. Well, NOT THIS YEAR! Here is your gentle reminder to go, right now, and make sure no surprises are lurking in the deep, dark world of credit reporting.  But, why?  I know, it sounds like a hassle but it really is for your own good. Sometimes mistakes happen, and there might be an entry listed on […]

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