Adjustable mortgage interest rate: With an adjustable rate, both the interest rate and the mortgage payment vary, based on market conditions. Amortization: Length of time over which the debt will be repaid. Appraisal: Process for estimating the market value of a property. Appraiser: Certified professional who carries out an appraisal. Appreciation: The increase in value [...]
For taxpayers anticipating a refund, filing a tax return early is a good plan. It is your money and the government does not pay interest. But if slips or receipts arrive after filing, you may need to revise the return you have already submitted. “It is a fairly simple process to make a change to [...]
Ask any Canadian these days to name their number one concern regarding their retirement savings plan and they’ll likely say security. Since the start of the global financial crisis and subsequent recession, people are looking for reliable ways to grow their nest egg. According to the 2010 Desjardins Financial Security Retirement Survey, respondents feel less [...]
Most people fall into three general financial profiles. They either spend above their means, spend just what they have, or they spend less than their means. There have been studies done which show that 90% of the world’s wealth is held by 10% of the population, and that even if this wealth were redistributed equally, [...]
Once your finances are under control, with secured assets, a well balanced budget, and major purchases planned for, you will want for options to invest any additional disposable income instead of throwing it away. Investing can take many forms, but regardless of the approach, it is usually a meeting of your risk tolerance and your [...]
Insurance, at its core, is just a way of managing risk. Life has a way of throwing unexpected curves, so it’s important to ensure your financial health isn’t interrupted by things that can’t always be foreseen. Although wants to expect the worst to happen, we still need to be prepared to handle life’s emergencies in [...]
One of the first major purchases that most people make is a car. Interestingly enough, it is often considered one of the worst investments you can make, because, unlike other assets, cars almost always depreciate in value. The first thing you need to determine what you need the car for? Are you more concerned with [...]
The best tip about borrowing money is simple: don’t. If you think of it this way, credit cards can add up to 20% interest to all of you normal expenses, so if you avoided paying all that money to interest, it would be like getting an extra 20% raise. There are benefits from credit cards, [...]
There are different reasons to save, and different approaches depending on what you are trying to achieve. One overall savings goal is to put money away for a rainy day; anything from health related problems, for repairs to a house or car, or an interruption to employment. Most experts say to put three months salary [...]
Budgeting is a critical process which forces you to look at what you’re spending, where you’re spending it, and thus be able to make informed decision on where changes can be made to meet your financial goals. Using software to track your finances and assets, you will get the added benefit of being able to [...]
