Guiding you along your financial journey
Like all great inventions, Airbnb was born from necessity. The company formed in 2008 in the US when affordable travel became scarce due to the recession. In the summer of 2015, nearly 17 million guests stayed with Airbnb hosts. When you list your place on Airbnb, you are reaching a demographic that is larger than the individual populations of […]
“Side hustle” is the economic term of 2016 (aside from “Brexit”, that is). Stagnant wages amid the increasing cost of living have necessitated new income streams. For many this is a way to cover bills by supplementing your ordinary, day job salary. Can a side hustle actually become your day job? New parents often ask themselves this question. Returning to […]
When you bring a child into the world, there’s a flood of emotion and an overwhelming sense of responsibility. Questions arise as you begin to embrace your new life. How do you decide what’s the best long-term childcare arrangement for you and your family? Should you go back to work, or stay home to care for your child? While everyone’s particular […]
The greatest lesson of the school year begins before the first day of class. This is the lifelong lesson of frugality. Shopping for back-to-school essentials should prime excitement for the year ahead without the stress of year after year costs. In this post we’ll look at some of the unconventional ways to save. Some of the most effective strategies for […]
It may be the middle of summer break, but there’s never been a better time to learn about saving for post-secondary education, including government grants and RESP rules. ModernAdvisor hosted a webinar on July 21 featuring two of Canada’s favourite financial professionals, Sandi Martin of Spring Personal Finance and Julia Chung of JYC Financial. The webinar covered RESP rules as well as […]
If you’ve decided to buy a car, you may be feeling a little daunted by the process. You’ve heard that you can save a significant amount of money by simply doing your homework and walking in prepared. But you’re not sure how to prepare yourself. Don’t worry – we’ve got you covered. We sat down with Phil Lundteigen, a former […]
1. What is a RRIF? So you’ve been contributing to your RRSP for many years and are now ready to retire. What do you do with your RRSP now? That is where RRIFs come in. RRIFs (Registered Retirement Income Funds) are basically the successor to RRSPs. You can convert some or all of an RRSP to a RRIF at any time, […]
RESPs: Benefits of Both Individual and Family Plans In either type of RESP, you can apply for the Canada Education Savings Grant (CESG), the additional CESG if applicable, and other government grants. All of the other rules around contribution limits and the government grants are the same. Contrary to popular belief, you can transfer funds between individual plans, just like […]
