Author: Seun Adeyemi

3 Good Financial Habits for the New Year

It’s a “new year, new you.” Are you ready to hit the ground running in 2018? For many of us, setting new year’s resolutions is a popular tradition. We set goals for ourselves to lose weight, eat healthier and quit smoking. Many of us also set goals around our money, whether it’s saving a down payment towards our dream home or paying off debt. While new year’s is an ideal time to set goals for ourselves, it’s also a good time to see if your personal financial house is in order. Here are three good financial habits to develop...

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Paying Down Holiday Debt: Debt Avalanche vs. Debt Snowball

December 21st may mark the official first day of winter, but tell that to mother nature. Southern Ontario has been blanketed with the white stuff early this year. In honour of the chilly temperatures outside and the holiday shopping season winding down, I thought it would be the perfect time to talk about the elephant in the room (or should I say polar bear) – holiday debt. In a perfect world we’d all pay off our credit card balances in full and never pay a dime of interest. Unfortunately, life happens: your car breaks down, you lose your job...

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How to Avoid Overspending in an Increasingly Cashless Society

When is the last time you opened your wallet and paid for something in cash? If you’re anything like me, it’s been a while. With each passing year, Canada is moving closer to a cashless society. We’re increasingly choosing to pay for goods and services with our credit card, debit card and via mobile payment over cold, hard cash. There are many benefits to a cashless society – better consumer protection, faster time at the checkout and a lighter wallet, but  there’s one major downside: you have a greater chance of overspending. This makes perfect sense: when you pay...

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6 Key Mortgage Terms to Know

Are you thinking about buying a home before the holidays? The fall market is an excellent time to go house hunting before the cold weather arrives. There’s typically less competition than the spring market, but still a decent amount of inventory to choose from. Whether you’re a first-time homebuyer or a seasoned home-buying pro, here are some key mortgage terms to know. Amortization: Your mortgage amortization is the length of time it takes you to pay off your mortgage in full. For most mortgages the amortization period is 25 years, although some mortgages from non-federally regulated lenders come with...

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What Is A Financial Plan?

A financial plan is like a roadmap to achieving the financial future you envision. It starts by identifying where you are financially and provides directions for getting to where you want to go. There are many areas that make up your finances: your assets and liabilities, investment portfolio, cash flow, tax situation, retirement income, insurance and estate plan (or lack thereof). Your lifestyle also plays a role. For a financial plan to be effective, each one of these areas must be addressed in a coordinated way in order to provide a personalized, comprehensive financial solution. What You Need To...

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