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Investing

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I’m an avid reader. I read every night before bed and listen to audiobooks when I walk to work, talk the dog out or clean the house, and there’s not much better than curling up with a good book on a Sunday afternoon. I’ll read just about anything (except fantasy, not my thing) but I have a particular interest in keeping up to date with books on money; especially Canadian personal finance books. I love finding something that tackles the topic of money in a fresh way and isn’t just a regurgitation of the same old advice. The one problem I have with books on money is that they are so often focused on the US. I get it. It’s a way bigger market. But it also means us Canadians can have a hard time seeking out books that don’t talk about 401k’s. Sure, most of the advice can cross…

If you’re still procrastinating about making an RRSP contribution for the 2018 tax year, then it’s time to get moving. The deadline is this Friday, March 1st. It’s a weird rule that’s only applicable for RRSP’s. Instead of running by the calendar year, you always have the first 60 days of the following year to make your contribution count. And trust me when I tell you that if you’ve been procrastinating, you are not alone. Now you know when you need to make your contribution, but do you know if an RRSP is the best option for you this year? The RRSP Advantage Ask just about anyone the biggest advantage of an RRSP contribution, and they’ll likely say the tax refund. And yes, that’s a nice perk, but it’s not the number one reason you should be using your RRSP. You don’t pay tax when putting money in (hence the…

Investing is not my favourite topic, you guys know that. However, I’m a money blogger and investing is a vital part of managing your finances. The last couple of months have been loony-tunes when it comes to the stock market. December sucked, January didn’t. And that’s precisely why I had an itch to talk about investing now. Investing risk and market volatility are one of the main reasons I hear for people not investing their money. I get it, watching the value of your portfolio take a nose dive is terrible. Saving vs Investing Saving money is great. In fact, it’s more than that; it’s essential. But saving money is not investing. Saving money is the act of setting money aside for the future. Investing is attempting to grow that money, so you have to save less of it in the long term. Saving a million bucks is very cool,…

I always find this time of year tough to talk about money. Many of us (me included) are caught up with seeking out deals and buying gifts, and the last thing we want to consider is how to better our finances. December can be a hard month on anyone’s wallet. It’s for sure one of our spendiest months of the year. This year is a travel year for us, so that’s an extra $1,000 in the holiday budget for flights. Add on presents, Christmas parties, and other events; we’re looking at almost $2,000 of expenses this month. Yikes. I love Christmas, but not that price tag! And I know we’re all caught up in the Christmas spirit, but it’s important not to let the year end slip away without doing a quick check-in with your finances. Here are a few tasks to add to your to-do list that will set…

Sometimes I wonder how it’s possible I ended up blogging about personal finance. There is so much of it I find incredibly boring! I don’t like math, I like the results of investing but the process is a drag, and I would way rather spend money now than save it for later. Stick with me though…I don’t think it’s a bad thing. In fact, I think it’s relatable. I might be in the minority when it comes to personal finance bloggers, but outside of our community, there are a lot of people who lack an interest in money. They have more exciting things to worry about than budgeting and investing. And that’s ok, but lack of interest is not a good excuse for not having your shit together. There are plenty of shortcuts you can take to make the money part run smoothly while you live your life. For me,…

There’s no quick win when it comes to getting rich. And don’t even come at me with that ‘but you could win the lottery’ BS! It takes time to pay off debt, create good budgeting habits, and build your investment portfolio. That’s just life, but it doesn’t exactly encourage good behaviour. Spending money gives you instant gratification. You see people around you doing things you want to be doing (hello imposter syndrome!), and it’s hard to feel like you’re missing out. Saving money doesn’t give you that same instant boost. Sure, it will be great when you’re retired, but that’s SO FAR AWAY. The hardest part of your journey towards financial independence will always be the beginning. You’re motivated and ready to jump in with both feet, but you probably don’t have the high income or the pre-existing investment base to fuel instant returns. It’s slow, and that motivation can…

Saving money is a big deal. It sets you up for success and can build confidence in all aspects of your life. But how do you know where to start? Are you supposed to be using a bank account or are there better options available? In Canada, we have RRSP’s and TFSA’s that each have unique advantages for saving and building your wealth. RRSP’s are designed for long-term retirement savings. Contributions are subtracted from your income and can give you a tax refund. Then your money grows tax-free until you start withdrawing it in retirement. TFSA’s give you a lot more flexibility and can be used for a variety of savings goals. You don’t get the tax refund, but you do get the tax-free growth with none of the withdrawal penalties. Today we’re going to focus on TFSA’s and how to ensure you are choosing the TFSA investment options that give you the…

Today is International Women’s Day, and to celebrate I’m joining the #WomenRockMoney movement. The mission? Get more women involved in money and work towards equality. My contribution? I want to let all you ladies off the hook and motivate you to close the investing gap. For more inspiring posts head over to the WomenRockMoney headquarters, and get involved by sharing your money wins using the #WomenRockMoney hashtag. There’s this mentality that women need to be kind, nurturing, and accommodating, while also running the world from the backseat. This piles on the pressure and makes us feel like we need to do it all. But guess what? You don’t! There is nothing wrong with being a master at some things, mediocre at others, and even downright bad at something else. Everyone has strengths and weaknesses (that makes you human), and there is no shame in asking for help. Offloading the tasks you…

Happy Valentine’s Day to everyone 💖 Whether you’re celebrating or not, there’s nothing wrong with sending out the love (and chocolate…there is nothing wrong with sending chocolate). The bf and I are not big on Valentine’s Day, it’s rare for us to go out and we don’t exchange gifts. I find that restaurants are so busy and a lot of places do a ‘special’ menu for the night, which often doesn’t stand up to their usual fare. Instead, we stay in and cook dinner together. Sometimes it’s fancy, sometimes it’s meatballs and mashed potatoes (that’s tonight if you couldn’t tell, but we’re doing real potatoes, you know, cause it’s Valentine’s Day). Now onto the other big event in February….RRSP season. February rolls around and all of a sudden everyone is concerned about making their RRSP contribution before the March 1st deadline. One quick note on that…it will make your life…

I am lazy. There are very few things that sound better to me than ordering in dinner, pouring a glass of wine and sitting in front of the TV to binge watch a new show. Even if I make plans, I very often dread them until I’m actually out the door and on my way. I know this about myself. I will put things off until the last possible second…you can call me the Queen of procrastination. I’m also a rule follower, so missing a deadline would be worse than doing the work. My life is basically a balancing act of procrastinating and then hurriedly getting the job done. Might not sound like a joy ride, but it works…almost always. What does my laziness have to do with my finances? Well, it means that if I don’t make things as simple as possible, they won’t get done. Saving money doesn’t…