R.E.S.P. For Your Child’s Future

A college/university education is expensive and tuitions will only go up with time. An R.E.S.P. (registered education savings plan) is an excellent way to start planning for your child's future. Consult several institutions before choosing the one right for you. Families have 18 years after your child is born to generate as much of an educational nest egg as possible. The Government will contribute 20%tax free to your contribution. By properly researching this option, your family can start to get an action plan together. With the new year approaching, it would be wise to start a plan if you haven't already. Know all of your facts before starting your R.E.S.P. One place to start is by Googling the Canadian Government’s R.E.S.P. web site. http://www.hrsdc.gc.ca/eng/learning/education_savings/public/resp.shtml...

Clean up Your Debt by Consolidating it all For the New Year!

Consolidating all of your current debt will make a difference to you and your family in saving and planning for the future. Since the Bank of Canada has decided not to increase prime interest rates, now is a great time to take advantage of low lending rates. This means the lending rates will remain the same for the foreseeable future. The average family owes $150.00 dollars for every $100.00 they earn. How badly are you relying on credit to keep you going? Here are a few reasons why debt consolidation may be one solution for you. Why should I consolidate my debt? By paying off all of your higher interest...

It's OK to wish folks 'Merry Christmas'

"CHRISTMAS EVE was a night of song that warmed itself around you like a shawl. But it warmed more than your body. It warmed your heart. Filling it, too, with a melody that would last forever," wrote author Bess Streeter Aldrich of the loveliest night of them all.In previous years, I've written about the true meaning of Christmas and how, just as Manhattan is everybody's town, this is truly everybody's holiday. In those columns, I found myself quoting Blake Gopnik, who unabashedly declares, "Merry Christmas," and follows up with these words: "I know those Christian-sounding words ought to feel odd coming from my lips. I am a third-generation atheist...

The Pro’s and Con’s of Taking a Cash Advance on Your Credit Card

The holiday season is already upon us! We as consumers are left making difficult choices in how we choose to spend our hard earned money. When making decisions always way the pro’s and con’s before deciding to go ahead. Taking a cash advance on your credit card is an easy solution that can later have drastic consequences if not fully thought out. Here are just a few things to keep in mind when making the decision to take that advance. The Pro’s in Cash advances off your Credit Card·      Cash advances enable you to obtain the cash you desire at your convenience. It’s a very easy solution and you can use it as you see fit.·      Cash is usually untraceable so that there isn’t any paper trail tying you to where and what...

Creating a Budget for the Holiday Season and Beyond!

Normal 0 0 1 463 2642 22 5 3244 11.1539 0 0 0 The holiday season, with its gift-giving spree, can be an expensive time of the year. So, if you don’t already have a budget, it would be timely to start one. A budget is a financial plan for monitoring how money flows into and out of your life. It shows how much you’re earning and how much—and on what—you’re spending. It may reveal buying habits you're unaware of; it can certainly help you plan more effective ways to spend and save for what really matters to you. And it will prevent you from going into a dangerous bad-credit zone, which will imperil your credit score. Use a budget worksheet Track your income First, use a budget worksheet (see link below). Here you will record...