Personal Finance
Towards a Healthier Financial Future
Topic: "Personal Finance"
← Curating the web to find the most interesting and helpful
information about your money.
Saving
Sales Are Shams but Deals Are Real: Here’s How to Know the Difference
Wirecutter on spotting an overhyped “sale” that doesn’t provide a meaningful discount or an actual deal →Investing
Ways to supercharge your CD investments
CDs offer a guaranteed interest rate that’s typically higher than a savings account, and you get the safety of FDIC insurance to ensure your money will be there when you need it. They’re not right for every situation, but they can be an effective way to save for short-term goals or create a predictable stream of income.
How to find the best CDs to invest in →Serious stuff
6 Estate Planning Must-Haves Everyone benefits from ensuring assets and finances are managed as they wish.
Here is an estate planning checklist of items every estate plan should include →Investing
What Is the Fear and Greed Index?
The Fear and Greed Index is a tool developed by CNN (yes, the news network) to help gauge what factors are driving the stock market at a given time.
Guide to the Fear and Greed Index →Saving
How to pick a bank that works for you
Are you happy with your bank, or is it time for a change? →Word of the week
Annuity
An annuity is a type of insurance contract in which the insured (you) and the insurer (insurance firm) agree that the insurer will pay you either on a regular basis or one-time disbursements to you as a payout for your contributions. Usually, people utilize an annuity as a retirement income source.
Use our free retirement calculator to see how an annuity make get you closer to your goals →Budgeting
5 Ways to Manage Your Personal Finances by Rakshitha Arni Ravishankar
Here are five pieces of advice from our authors on how to feel in control of your personal finances →Saving
6 big purchases that can save energy and money at home
NPR Life Kit: Here are a few energy-saving solutions to consider →Saving
A shame-free guide to digging out of debt
NPR Life Kit: In this episode, they offer shame-free solutions for digging out of debt →Infographic of the week
Warren Buffett's Portfolio Visualized
Warren Buffet is probably best known for being one of the world’s most successful investors. See what Berkshire Hathaway are holding and learn from the legendary value investor known as the 'Oracle of Omaha'.
How They Make Money: Why the Oracle of Omaha tends to bet on the status quo →Saving
How TikTok changed the vibe of personal finance advice
Podcast: Stress Test by columnist Rob Carrick on how Gen Z and millennials are getting a lot of their money advice from TikTok, where personal finance videos have more than 5.8 billion views. →Saving
Who Should You Trust With Your Money?
Half Banked Podcast: Hosts Cadeem and Bethan break down the difference between financial advisors and planners and the red flags you should watch out for →Serious stuff
Khan Academy has a great free financial literacy course. From understanding interest rates to navigating the stock market, this course breaks down complex concepts into easy-to-understand lessons that will empower you to take control of your money.
Khan Academy Financial Literacy Course created by Sal Khan →Word of the week
Financial Advisor
A financial adviser is a professional that possesses the certifications, abilities and experience to help with a number of financial matters. The term's broad definition encompasses a variety of specialities and qualifications. A financial advisor may assist you in deciding how to manage your finances for long-term goals like retirement and your children's education, purchasing a home, or more immediate goals.
Choosing a financial advisor →Budgeting
Budgeting Tips - Incorporate only attainable income - Be reasonable with your spending - Keep an eye on your purchasing patterns - Regularly review your budget - Avoid using credit cards - Stay positive
Start building a better future with a budget today →Budgeting
New York Times Quiz The newspaper wants to help young people get a better handle on their money. To begin, we want to hear from you.
Complete their short quiz, to let them know what your biggest questions are when it comes to personal finance →Infographic of the week
The Monthly Cost of Buying vs. Renting a House in America
With home prices and mortgage rates both rising, the U.S. is now witnessing the biggest numerical gap in the monthly cost between owning a home and renting in over 50 years. Americans, however, have seen similar scenarios occur since the early 1980s.
See the difference of buying vs. renting a single-family residence in the U.S. since 1970, adjusted for inflation. →Serious stuff
Why making more money may not solve your financial problems
Rob Carrick on why making more money doesn't always solve your money problems →Budgeting
Diving into the world of money management might feel a bit like riding down a river that’s full of twists and surprises. No need to worry - having a good plan can make this entire experience much easier.
Budgeting Tips: 5 Successful Ways to Boost Your Money →Investing
10 Approaches to Smart Investing
Smart investing helps you do three important things: - Allows you to create an additional source of income - Provides for long-term financial security - Helps create sufficient post-retirement wealth
Top 10 ways in which you can become a smart investor →Infographic of the week
Visualizing U.S. Wealth by Generation
The distribution of wealth is an important measure of the economic power of each generation. In the U.S., for example, baby boomers own half of the nation’s $156 trillion in assets despite making up 21% of the country’s population.
Visualizing $156 Trillion in U.S. Assets, by Generation →Serious stuff
Fifty Money Questions to Ask Your Partner
Use these 50 questions across four categories to jumpstart the conversation. →Word of the week
FICO
The three-digit FICO Score, or a Beacon Score, determines whether your credit is good or bad. Fair Isaac & Company, also known as FICO, is a US-based business that sells Equifax and TransUnion Canada their unique rating system. When you apply for credit, lenders can quickly and reliably learn details about your finances thanks to the FICO Score.
Getting your credit report and credit score →Serious stuff
You might not realize it, but there is something called financial personality, and it can play a big role in your ability to handle and manage money.
How Your Personality Is Affecting Your Finances →Did you know?
The first War Savings Certificates and Victory Bonds were issued in Canada during the First and Second World Wars. They went towards paying for the war effort.
Browse through the gallery and view the timeline to learn about the History of Canada Savings Bonds. →Saving
Recession-beating tips for the job market, housing, investing and the cost of living
Podcast: Stress Test by columnist Rob Carrick on on how to prepare for the changes in the job and housing markets, investing and the cost of living →Investing
Investing Introduction
Whether you are new to investing or new to Canada, investing for your future is important.
Investing for your future →Did you know?
The word ‘budget’ derives from the French word bougette, which means leather bag. The bag contained the papers setting out France's revenue, expenditure and tax.
Start your personal bougette today →Serious stuff
In 2021, 24% of people aged 15 to 49 had changed their plans with regard to having children as a result of the COVID-19 pandemic. Most often, they planned on having fewer children or having a child later.
Family Matters: A new addition to the family? It depends →Serious stuff
Learn the 101 of financial literacy with a fun, dynamic guide that makes money feel empowering, financial literacy becomes a life-long habit that pays dividends.
Financial literacy 101 from the Canadian Foundation for Economic Education →Word of the week
Liability
Any debt that lowers your financial worth is referred to as a liability, whereas owning an asset would raise it.
Learn more about specific liability types and examples →Infographic of the week
Visualizing Annual Working Hours
Comparing the number of hours people work in different countries can provide insight into cultural work norms, economic productivity, and even labor laws.
Where does Canada rank? How do your working hours compare? →Serious stuff
The Bank of Canada has increased its benchmark interest rate to 5 per cent, the highest in 22 years.
What happens when interest rates rise in Canada. What does that mean for you →Word of the week
Asset
An asset is anything you own that increases your financial value, whereas a liability is money you owe that would decrease your financial value. Assets include a laptop, bike, car, house, and bank accounts.
Learn more about specific asset types and examples →Saving
How much money do you need to retire?
Start planning for your retirement with our free calculator →Investing
The Basics of Investing
Read about some of the most common types of investments including the Canada Savings Bond (CSB), Guaranteed Investment Certificate (GIC) and Treasury bill (T-bill).
Jargon-free investment terms →Word of the week
Financial Literacy
Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. The earlier you start, the better off you will be, because education is the key to success when it comes to money.
Financial Literacy: What It Is, and Why It Is So Important →Saving
101 Ways To Save Money
Tips for saving up for a big goal, paying down debt or cutting costs →Investing
Millennials: 4 Tips to Start Investing Today
1. Build your credit 2. Open a TFSA 3. Invest what you can 4. Set some goals
Here are some tips to get started from Motley Fool →Fun stuff
"I brought the money like the lawyer said to do But it won't replace the heartache I caused you; It won't take the place of lovin' you, I know So one cup of coffee, then I'll go"
Which artist is #1 on our Neontrack playlist this week?
Listen to our Neontrack playlist when you have music and money on your mind.
Did you know?
There are over 1.5 billion Canadian bank notes in circulation. In fact, if you stacked them all together they’d reach a height of over 150 kilometres. That’s officially outer space!
Canadarm2 and the $5 polymer note →Fun stuff
"Money Get away Get a good job with more pay and you're okay Money It's a gas Grab that cash with both hands and make a stash"
Which artist is #1 on our Neontrack playlist this week?
Listen to our Neontrack playlist when you have music and money on your mind.
Serious stuff
"How improving your financial literacy can help ease stress in a tough economy. Brushing up on your financial knowledge can help to build confidence and freedom."
Managing money can be difficult for anyone, regardless of their financial situation →Word of the week
Credit Score
"Your credit score is a three-digit number that comes from the information in your credit report. It shows how well you manage credit and how risky it would be for a lender to lend you money. Your credit score is calculated using a formula based on your credit report. Note that you: - get points if you use your credit responsibly - lose points if you have trouble managing your credit Your credit score will change over time as your credit report is updated."
Learn more about your credit score →Serious stuff
Take this self-assessment quiz to figure out how your financial literacy skills and knowledge measure up compared to other Canadians.
Financial literacy self-assessment quiz →