4 reasons why you spend too much (and what you can do about it)

There are a lot of reasons why you might hit the mall this weekend, but most of them have nothing to do with need. That’s not an entirely bad thing – in fact, it’s a sign of the overall prosperity many people in North America enjoy. Unfortunately, our debt loads suggest that many of us want more than we can actually afford to pay for in cash. According to a study by the Vanier Institute of the Family, an Ottawa-based research group, Canadians’ debt to income ratio now stands at about 150 percent, which equates to about $1,500 of debt for every $1,000 we earn. Sound familiar? Check out some of the things that may drive you to buy, even when you’ve sworn off shopping.

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What are your investments trying to tell you?

Cracking the code on investment statement lingo

Investing, Personal Finance

First things first: the fact that you are receiving investment statements indicates that you are indeed saving and investing your hard-earned money in order to build wealth and safeguard your future. Awesome. If you’re like many investors, you probably stressed about which investments to choose and discussed the various asset allocation models ad nauseum with your financial advisor. You were introduced to an alphabet soup of new terminology and acronyms, to which you nodded and knew you would never remember even if a dinner date with Clive Owen depended on it. Now, when you receive your quarterly investment account statements, the letters and numbers swim in front of your eyes. You quickly scan the top page to find the one number that represents the current dollar figure in your account, then toss the pages into a file folder, figuring you might need them come tax time. read more »

Cleaning up a bad credit rep

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Ever since high school, you’ve known the importance of reputation. Then, like now, you were known for something. It could have been your skill at Scrabble or your spotless attendance at cheerleading practice (or math club!). But what if a false rumour started that you cheated on a test or had stolen your best friend’s boyfriend — you’d defend yourself, right? You’d want to set the record straight so people would give you the respect you deserve. The same rules apply to your credit rating. read more »