U.S. Tariffs: What Canadians May Expect and How to Cope
Overview The U.S. tariffs have already complicated the U.S.-Canada relations. Acting essentially as a tax on goods imported from Canada, the U.S. tariffs may have an adverse impact on Canadian businesses and employment numbers. In this article, we’ll review the mechanism of the tariffs, the impacts on various aspects of the Canadian economy, tips to […]
Can You Find an Affordable Apartment in Ontario?
Overview Is it possible to find an affordable apartment in Ontario, given the ongoing housing crisis? In this article, we’ll take a closer look at housing affordability in Ontario and what it would take to rent your own apartment. The Housing Crisis in Ontario The housing crisis in Ontario is the result of several different […]
5 Powerful Ways to Lower Your Housing Costs
Overview Canada is reeling from an ongoing housing crisis. The housing crisis arose from a combination of factors: The above factors combine to make housing unaffordable on a low or modest income. In this article, we will explore five ways to manage housing costs despite the crisis. Method #1: Get a Roommate The housing crisis […]
Why You Should Move Out of Your Parents’ House
Overview: The Challenge In 2021, 35.1% of young adults aged 20 to 34 lived with their parent(s), 39.4% lived with their spouse, partner, and/or children, 14.8% lived with relatives or non-relatives, and 10.7% lived alone (source: Statistics Canada). This means living with one’s parent(s) is the second most common living arrangement, after living with a spouse, partner, and/or children. Therefore, it’s safe to say […]
5 Powerful Tips to Lower Your Credit Utilization Ratio
Overview Your credit utilization ratio represents the percentage of available credit that you’re using. For example, if your available credit is $3,500, then $350 amounts to 10% of your available credit. Ideally, you would keep your credit utilization ratio below 30%. This may positively impact your credit score. Generally speaking, the lower your credit utilization […]
5 Tips to Handle Unexpected Expenses
Overview In life, unexpected expenses are inevitable. The question is not whether they will happen – it’s when. Therefore, being prepared for such emergencies is the best thing you can do to safeguard your peace of mind. However, now that you’ve been hit with unexpected expenses, you need to consider several different methods to deal […]
Why Healthy Habits Lead to Better Finances
Overview There is a well-observed link between good healthy habits and financial outcomes. In this article, we will tease out the connection between various healthy behaviours and financial benefits that you may experience as a result. Habit #1: Consistent Exercise Consistent exercise is one of the hallmarks of a healthy lifestyle. While it takes prioritization […]
10 Social Media Trends in Personal Finance: Should You Bother?
Overview It seems that every day, there is a new social media trend. We’ve identified ten social media trends in personal finance. In this article, we will review these trends and consider whether they’re worth your attention. While social media stars may advocate for flashy gimmicks and unrealistic lifestyles, sometimes, you simply need quick funds […]
What Is Buy Now, Pay Later (BNPL)?
The History of BNPL Buy Now, Pay Later (BNPL) plans first emerged in the 2010s as an online payment option. The most classic iteration of BNPL plans may be the pay-in-4 method, whereby you pay 25% of the total price upfront, receive the product, and pay the rest in equal installments every two weeks. The […]
8 Financial Tips for Young Adults
Overview Confronted by an intensely competitive job market, high housing costs, and a high cost of living, young adults today find themselves in a difficult predicament. However, with the eight smart financial tips below, millennials and Gen Z can more successfully navigate the current economy. Tip #1: Adopt a Budget A budget is a must […]
