“There is strength in becoming unified together toward your own personal plans to wealth.” If you plan to retire together, you must save and dissolve your debt together. It is vitally important that both partners be involved in the financial decision process. I have found that the most financially successful couples, were those that combined their incomes, working together to spend and save for their future. Those couples [...]
Ask the Money Lady, I always find it difficult over the holidays to keep the costs down. Have you got any tips for making it through Christmas without spending too much? Thanks, Francis Great question Francis! Everyone feels the financial pinch over the holiday season and most tend to buy on credit and then try to deal with the bills in January. I know it can be extremely [...]
Qualifying for a Line of Credit When Retired? Most people believe that it easy to get a line of credit (LOC) from their banks until they go in and request one. If you have a steady, secure income and good credit, you shouldn’t have any problems. But, if you do not have a large enough annual income to qualify because you are self employed or retired, you may be [...]
Ask the Money Lady, I am a pensioner and own my home, I have no debt, but I wanted to get a line of credit from my bank to help out my daughter and maybe do some upgrades to my home. I went into my bank and they said I don’t qualify. I couldn’t believe it. I have been with the same bank for over 30 years. What [...]
Rising Canadian Shelter Costs: Rising housing costs have played a large role in boosting Canadian inflation in recent years, with overall shelter costs up a hefty 2.6% year over year. Until recently, it’s mostly been a story about fast-rising home prices, home insurance, and mortgage payments—i.e., all the costs associated with owning a home. And, those so-called owned accommodation costs are still up a robust 2.5% year over [...]
PART 3: SAVING TIPS WHEN FINANCING OR LEASING So we are at the end of our three-part series on whether to finance a new vehicle or lease one. Obviously is you plan to keep the vehicle for longer than 4 years, it makes more sense to finance, since you pay less overall. Here are some tips for getting the best deal from your car dealer. PURCHASE/FINANCE: The general [...]
PART 2: SHOULD I FINANCE TO OWN OR LEASE……..WHAT IS BETTER ?? According to the Canadian Car Dealers Association about 60% of buyers lease their vehicles leaving the other 40% of buyers either financing or paying cash. This is a large ticket item for Canadians to purchase. Today we are providing a comparison of leasing vs financing – what is better? In this scenario we are not putting [...]
PART 1: GETTING A CAR LOAN FROM THE BANK VS. THE CAR DEALER. WHO HAS THE BETTER DEAL? This is a good question that I get often when clients are looking to finance a new car purchase. Let’s start by saying that all Banks dislike car loans, because the loan request is on a depreciating asset, and it doesn’t make for good customer conversations since the rates [...]
Ask the Money Lady, My husband and I both think it’s important to have a Will but we have not gotten around to it yet. We have been married for 10 years and have three kids. If we just wrote down our wishes and signed it, would that be good enough? Cindy B. Dear “Too Busy” Cindy! Dying without a Will, means you have absolutely “NO SAY” about [...]