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Blog - MeVest

Reduce your tax bill with these end-of-year tips

Around this time of year I create my annual tax folder in Google Drive and begin loading up relevant documents such as my charitable receipts and medical expenses from the year. As new tax forms start rolling in, I keep them all organized in my…

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The best protection against identity theft is you

Identity theft is rampant and it’s important to protect yourself. If you suspect something unusual is going on with your personal information, follow these steps: 1. Report It Identity theft techniques can range from complex computer spywares and viruses, designed to help thieves acquire personal…

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The rise of subscriptions could be squeezing your digital wallet

Subscriptions are like paper cuts. If you get too many of them, they can harm your financial and physical well-being. The nastiest part is they’re so darn small, they often go undetected for quite some time.     In the past five years, the subscription…

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Stretch your grocery budget by shopping online

Today on @BTtoronto we talked about how technology is revolutionizing the way we shop for groceries and why that's saving Canadians money. @WinstonSih @rogerfpetersen Full story: https://t.co/Lel9bUpukB — MeVest (@MeVestMoney) July 31, 2018 One of my pet peeves is buying something and then finding out…

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Merging your accounts with your honey? Read this.

MeVest founder, Lesley-Anne Scorgie, hosts guest contributor, Janine Rogan.   Merging your accounts with the love of your life has pros and cons. For starters it makes things easier at the end of the month when you don’t need to tally up who owes what….

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Using digital tools to automate your financial plan

Set it and forget it. Automating your budget and savings for things like groceries is one of the best ways to stay on track financially. I’m envious of people that have a long memory. My granny can recount names, addresses, birthdays, anniversaries, outfits people wore…

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Is mortgage-freedom your goal? Tackle it in these three ways.

Not everyone can visualize a future without a mortgage. But, Sean Cooper did. Before he was 30, Sean eliminated his mortgage on the home he purchased in Toronto nearly eight years ago. In our latest episode of LA TV, with MeVest founder and host, Lesley-Anne…

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Spending more than $1,000 on children’s activities? Think again.

When I started my career in finance in 2006, I attended an event with the author of The Wealthy Barber, David Chilton. He kicked off his financial pep talk by recounting the time he reviewed an Alberta family’s spending who claimed they were completely broke…

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How to Host a Barbecue on a Budget

The summer season is the perfect time to get-together with family and friends, celebrate the beautiful weather and enjoy each other’s company over delicious food! We know that hosting a backyard barbecue can also get expensive, so we’re sharing three tips to keeping your party…

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Should you join your money with your honey?

When the dust settles after the ceremony, reception and second helpings of tiered wedding cakes, newly married couples in Canada must decide whether to join their banking. Technically speaking, so long as the couple works together to achieve their goals as a team, they can…

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Daydreaming about a joint vacation? Set some boundaries first

  Sharing vacations and vacation properties with family and friends is a fabulous way to shave off costs. But, even the best laid plans can sometimes backfire both financially and personally, without clear boundaries. Here’s how to do it right. Pick a travel partner with…

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Are you being scammed? Here’s a quick guide to find out

Nearly 70 per cent of Canadians received a tax refund, making them an easy target for fraud.   Last Tuesday I opened my email to discover a correspondence from the Canada Revenue Agency (CRA) stating that, due to a miscalculation during my tax filing last…

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DIY Home Staging

Thinking about moving or getting ready to put your house on the market? Spring is always a busier time for home sales and if you want to ensure your home is ready to sell there are a couple of simple things you can do to…

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The six best summer side-hustles for students

One summer job just isn’t enough anymore but there are money-making opportunities out there, from freelancing to festivals. The summertime can be a financial pressure cooker for some students as they scrounge, mooch and save for their next round of tuition payments, often due by…

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Re-imagine Your Budget to Stop Overspending

Remember, fancy spreadsheets and apps won’t save you. Better behaviours will.   As a certified money coach and personal finance author,  I’ve seen just about every version of budgeting that you can imagine; families with an entire section of their kitchen countertop full of jars…

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Ladies, start saving 20 per cent for retirement

Women can unlock their financial potential by growing their financial confidence. The Wealthy Barber was the very first book I read about personal finance and the most important rule I learned was to save 10 per cent of everything I earned towards retirement. When I…

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Are You Behind on Filing Your Taxes?

Missing the April 30 deadline could lead to a colossal waste of money. Here are some details to keep in mind.   Mark your calendars: Canada’s personal income tax deadline is April 30. That means weeks of fear, procrastination and guilt. The biggest worries I…

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Here’s How to Take Advantage of Scholarship Season

Millions of post-secondary scholarship dollars are left on the table because Canadian students don’t bother to apply for the money.   Post-secondary students across Canada are preparing for final exams — but carving out time during the next 60 days to investigate scholarship opportunities could…

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5 Ways Spring Cleaning is Good For You AND Your Bank Account

There is something refreshing about tidying up our home, getting rid of things that no longer serve us and entering the Spring season feeling rejuvenated. We’ve put together our top 5 tips to help you get your Spring cleaning started: 1. Electronics – Take an…

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The 411 on RRSPs

President & Founder of @MeVestMoney, @Lesleyscorgie, explains RRSPs and why Canadians should look into contributing.https://t.co/VDV9jNToep — Breakfast Television Toronto (@BTtoronto) February 21, 2018   Q. Why should Canadians care about RRSPs? A. Hands-down, the RRSP tool is the most powerful retirement savings vehicle for most…

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Three Steps Toward a Better Sleep

Do you ever wake up from a less than ideal sleep and then as your day unfolds many things from your mood to work tasks just feel ‘off?’ Sleep is one of THE most important pieces of our wellness routine. We hear this all of…

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How to Empower Yourself in Business

To ultimately get ahead in business, you’ll have to push yourself to achieve more every year. This can feel uncomfortable at times, but that’s a sign that you’re learning and growing. We have four important steps you can take to get ahead, and to feel…

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The Financial Benefits of Going Green

The start of 2018 brings opportunity for change and reducing your carbon footprint is definitely on the top of the list for many people drafting up their New Year’s Resolutions. But, did you know there are financial benefits of living a “green” life? Our Homes…

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Goodbye Costly Cable TV, Hello Savings – Week 9

For its ninth challenge, Metro’s Small Changes, Big Win series gets you to save by cancelling your cable television subscription. Small changes to the way you spend can add up. We’ve pulled together weekly tips that will add a minimum of $10 to your savings….

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5 Ways to Pay-off Your Holiday Bills Faster

If you’re reeling from an expensive holiday shopping season, you’re not alone. Most Canadian households spent an average of $1,000 on gifts and entertainment throughout the season. That amount might seem reasonable if you’ve planned for it. But, most people did not save in advance and…

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The Fight for Gender Parity Continues: Remembering December 6th, 1989

I was in kindergarten when the Montreal Massacre happened. It was December 6th, 1989. In a delusional and violent attempt to “fight feminism”, Marc Lépine, 25 years-old, shot 28 people and killed 14 women, and then he committed suicide. A lot has happened for women…

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Gender Diverse Investing: A Morning with Diana van Maasdijk

Earlier this month I sat down with Diana van Maasdijk, co-founder of Equileap, while she visited Toronto from Amsterdam; where Equileap’s head office is located. Q. What does Equileap do? A. Equileap creates a financial index for gender-diverse exchange-traded funds (ETFs). What that means is that…

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Gender-diverse Investing with Raj Lala

[youtube]https://youtu.be/beLynxK0VSw[/youtube] Raj Lala, and his team at Evolve ETFs, recently launched HERS, which is the first Canadian gender-diverse ETF.   It can be a challenge to research the gender-diversity policies and practices of companies in North America. That’s where relying on non-profit organizations like Equileap…

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This Year, Restrict Holiday Drinks to Half-price Happy Hour – Week 2

For it’s second challenge, Metro’s Small Changes, Big Win series gets you to scope out discounted drink specials. Enjoy responsibly and bank those savings. Small changes to the way you spend your money can really add up. We’ve pulled together weekly tips that will add…

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Women-focused Businesses are More Profitable

During the month of November, organizations in Canada like WXN and Women of Influence, celebrate the career accomplishments of women.  The subject of gender diversity and women in the workplace is active around the dinner table, but not only that, the subject of has been influencing the markets and investment decisions made…

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Closing the Clean Car Affordability Gap

When the calendar rolls over into 2018 my car, a peppy crossover with low kilometres, will officially be ten years old. In the world of cars, that’s considered a milestone birthday. In the world of consumers, however, that’s considered time for change.   Here’s the…

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Can You Afford to Own a Clean and Safe Car?

  Affording a clean and safe car is within your reach. So too is getting in on the investment market for automotive innovation. What will it cost you to own an Electric Car? Two of the most popular EV Cars are: The Tesla, starting at…

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Apartheid is Over, But Socially Responsible Investing is Not

Throughout the 1970s and 1990s, companies, pension funds, and individuals around the world stopped investing in South Africa. Since 1948, South Africa had been under Apartheid, a system of legal racial segregation enforced by the ruling National Party. Apartheid encouraged other human-rights violations such as…

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Millennials Eager to Invest in Combatting Cyber Security Breaches

I love free stuff perhaps even more than my granny. But, here’s the catch. Over the years I’ve registered for dozens of loyalty programs, downloaded coupons and signed up for services online. All I had to trade to get my precious ‘perks’, was my private…

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Recovering From Identity Theft

Samantha’s story of identity theft is one of many thousands. In the spirit of bringing awareness to Cyber Security Month and we’ve got a few tips from our friends at Cytelligence to keep your information safe online. Change your passwords to your online banking at…

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One Simple Way to Protect Against Identity Theft

Last year the most cyber attacked industries were: Healthcare Manufacturing Financial Services Government Transportation   Millions of people had their private information misused or stolen for the purposes of criminal gain. In some instances, that resulted in the hackers creating new identities; while in others…

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ETFs for Social Good

Three social issues that are trending in ETFs right now are gender diversity, car technology and cyber security. And you see the excitement building with the launch of HERS, CARS and CYBR right here in Canada.   Gender Diversity – Stats from Morgan Stanley show that high gender-diverse companies delivered incremental Return On…

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Parents, check your mailbox!

This week, the Government of Canada mailed out letters to more than 85,000 families who are eligible for the Canada Learning Bond (CLB) – consisting of a $500 grant at birth and an additional $100 per year until a child turns 15, as long as…

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Parents, Stop Leaving Money On the Table

  Recent survey results from Ipsos and Knowledge First Financial indicate that over half of Canadian parents are leaving money on the table when it comes to saving for their child’s future education costs, and they regret it later. Parents are simply not taking full…

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5 Reasons You Should Save For Your Child’s Education

You know it. The cost of education has increased by more than 100 percent since the 1980s, making it difficult for parents to save enough. Thankfully, the federal and provincial governments across Canada offer Registered Education Savings Plans (RESPs) and grants to help you save…

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3 Reasons You Should Not be Lazy When Saving for Your Child’s RESP

  Like most things in life, good things don’t last forever. This certainly applies to free grants for your child’s Registered Education Savings Plan. Every year you have access to some form of free grant whether through the Federal Government or the province where you…

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3 steps to financial adulthood for students

Your student budget is beyond tight; books, tuition, lab fees, residence, food, cell phone, Internet, beer, parties and travel. But, if you don’t want to live on your parents’ couch when you graduate, you’re going to have to grow up financially.   Use your smart…

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4 Budgeting Hacks for Parents to Afford RESPs

  You’re maxed, right? Between mortgage payments, groceries, gas, haircuts and sports registration fees, it seems next to impossible to scrounge up money for your child’s Registered Education Savings Plan (RESP). A recent survey from Ipsos and Knowledge First Financial revealed that four out of five…

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Don’t Be ‘That’ Parent Who Misses RESP Grant Windows

Parents are leaving money on the table when it comes to saving for their child’s future education costs and that’s a bad financial move! A recent survey from Ipsos and Knowledge First Financial confirm that over half of Canadian parents simply aren’t maximizing available government…

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Say ‘No’ to Package Insurance

I know it’s not pleasant to think about illness, disease, death, disability, floods, fires, accidents, and other awful events, but catastrophes can happen and you need to be equipped with the right insurance to get you through difficult times. The last thing you need to…

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Bizarre Scenarios Aren’t Always Covered by Insurance

  What happens to your insurance coverage if your neighbour’s kid starts a fire and the fire leaps the fence and destroys your deck? What if your tenant brings a lawn mower into your living room, starts it and accidentally chops off his foot? What…

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4 Questions to Ask Your Insurance Advisor

As an insurance advisor, I find that people are not familiar with the insurance they bought and the associated features.  Below are the four most important questions to ask your insurance advisor before you make changes to your existing policy or sign on the dotted…

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Frugal Summer Upkeep

In the summer, there’s a lot of personal upkeep that goes on like pedicures, bikini waxes and summer workout bootcamps. How do we keep up with all of this stuff without breaking the bank?     Tips: You can get your pedicure done at a…

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Rates are likely going up and it could be a good thing

WATCH: What the interest rate hike might mean for you – @Lesleyscorgie's interview with with @aartipole on #CBCNN https://t.co/9sc2bm5cd6 pic.twitter.com/L9t7UAgDgM — Jeffrey Sze (@jeffrey_sze) July 3, 2017   A rate increase in Canada could actually be a good thing because it can have a slight…

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Wallet, Waistline & Wellness Challenge

If you’re feeling a little drained and need to reset it could be because you’ve got some anxiety about your finances, body image or mindset. But, there is a way to shred that anxiety with “tweaks” to your daily routine. It’s the Wallet, Waistline and Wellness…

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Ask Smaller Questions and Change Your Life

We’ve been taught that in order to produce great changes in our lives we must apply significant innovations to equally large challenges. For example, we feel stuck in our careers and ask ourselves “why am I not moving up in my organization?” or “why can’t…

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5 Physical Fitness Behaviours that Apply to Your Finances

Coaching people with their money is something I love to do. That’s why I built a business around the concept. But, I’ve also been teaching high intensity fitness classes every week for many years. Though my motivation to teach fitness started with me thinking that…

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The Cost of Your Tribe

Everyone belongs to a tribe, and sometimes more than one. These are the communities of people that we identify, play and congregate with. Some of us have a mission such as community work, physical fitness or support systems, while others are simply groups of friends….

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The bogus budgeting myth when buying local

There’s a common misunderstanding that local choices for food, art, crafts, entertainment, clothing, furniture and services cost more. That simply isn’t the case. But, if you are an unaware shopper, not paying attention to prices or what’s in-or-out-of season, you could definitely stumble upon an…

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Q & A – Housing Affordability with Sean Cooper

Q. What are the best ways to afford a home in an expensive market like Toronto or Vancouver? Get creative. You probably can’t afford your dream home right away, but by getting your foot in the door of the real estate market with a condo…

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Want to cash-out on your real estate? Read this.

When times are good in real estate there are plenty of reasons to cash-out. But, the cash-out only works to your financial benefit if you’re actually putting real money towards your net worth. Your net worth is the amount of money you have left over when…

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The 32 per cent rule in real estate

  Mortgage lenders have loads of rules they must follow from government policies around borrowing limits to their internal risk management frameworks that protect their institutions from a borrower defaulting on their loan (i.e. not paying it back). But, one rule in particular has stood…

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The 32 per cent rule in real estate

  Mortgage lenders have loads of rules they must follow from government policies around borrowing limits to their internal risk management frameworks that protect their institutions from a borrower defaulting on their loan (i.e. not paying it back). But, one rule in particular has stood…

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The 32 per cent rule in real estate

  Mortgage lenders have loads of rules they must follow from government policies around borrowing limits to their internal risk management frameworks that protect their institutions from a borrower defaulting on their loan (i.e. not paying it back). But, one rule in particular has stood…

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4 Reasons Your Mortgage Application Could Be Declined

There are many reasons that mortgages don’t get approved including low income, too much debt, and bad credit. Here are some ideas of what you can do if you’re getting declined due to any of the following reasons. Low Income: If the bank tells you…

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Join our team as a Certified Money Coach!

MeVest is now hiring! Position Title: Certified Money Coach Description: If you’re passionate about personal finance and helping other people master their money, MeVest could be the right fit for you. We’re looking to bring on two experienced Money Coaches to service the Prairies and…

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What you need to know if you’re behind on your taxes

Are you behind on your taxes? Taxes are like Christmas. Each year the filing date is the exact same – April 30th. The anticipation builds, albeit negative, but it’s not like tax season is a surprise. The biggest reason I see people skip filing is…

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Thinking of paying off your HBP early? Think again.

Let’s face it. Most first-time home buyers need a serious financial boost for their downpayment so many turn to the Home Buyer Plan (HBP). With the HBP you and your partner can borrow up to $25,000 each, tax-free from your RRSP. You’ll have 15 years to repay…

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How to Make the Most of Your Tax Refund

Taxes for the 2016 tax year are due April 30, 2017 at midnight. So, if you haven’t filed yet, get on it! According to Canada Revenue Agency (CRA), the average tax refund in Canada is approximately $1,600 and a total of $127 billion is collected…

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What’s Missing From Your Tax Package

Even accountants loath tax season. So, it’s not a wonder why the rest of us cringe at the silly little stack of tax forms piling high on our kitchen counters. Get organized Rather than use the forms as a coaster for your coffee mug, gather them…

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The Swap Life

Remove selling your body from this scenario and let’s say you challenged yourself to 30-days of swapping, rather than paying, for goods or services. Do you think you could do it? There are three types of swaps that don’t involve cash. 1. Services for Services…

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How to Create a Meal Plan (& save money too!)

Wholeness is just one of the three pillars MeVest is built on. When we’re in good physical and mental health, this pillar stands to have a positive effect on your wallet and your work too. What you put in your body affects your physical and…

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What You Need to Know About the Looming RRSP Deadline

We’ve got answers to your  RRSP questions. Q 1. The RRSP deadline is looming and you might be feeling pressured to contribute, but is it always the right choice for everyone? Not necessarily. If you simply can’t afford to make an RRSP contribution because you…

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Save the Date for our Free RRSP Webinar

One question we’re asked often is ‘should I contribute more money to my RRSP?’ We are here to help! Join us on February 15th , 2017 at 8pm EST for a 45min webinar hosted by MeVest founder Lesley-Anne Scorgie. We’ll help you learn how to:…

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5 Steps to Keep Your Financial Plan Alive

We don’t want you to fall off the financial planning wagon so follow these tips: Put a reminder in your calendar. Every quarter your friendly reminder will pop-up and this gives you the chance to review your plan, see where you stand and course correct for…

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Why RRSP loans are in style

Thinking of catching up on your RRSP contribution space? An RRSP loan could help.   RRSPs 101   RRSPs are a very powerful tool to save for retirement and if your household earns more than $50,000 per year, you should have them.   Every year…

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5 easy ways to get your finances in shape

A new year means new goals and for many people, getting their finances in order is at the top of that list. Personal finance expert Lesley-Anne Scorgie shares her tips and tricks for improving your finances. If you can make one simple financial improvement this year… Raise…

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3 Naughty Financial Habits to Break in 2017

  In January we adopt new and healthy habits like eating better, losing weight, learning a new language, making more time for family, drinking less, having better sex and saving more money. If you’re ruthless and consistent with making these changes a priority, after 12-weeks…

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5 Simple Tips to Make Sure You Get What’s Yours this Tax Season

There is a saying that ‘a little preparation goes a long way’ and this is especially true when it comes to your taxes. Canadians can ease their burden with some end-of-year preparation and help maximize their return. Here are five tips to help prepare for…

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Gratitude

Gratitude is the only word our team can use to truly express how we feel about your engagement, support and business this past year. We’re thankful for your bright ideas and bold financial moves. But most important, we’re humbled by your willingness to share your…

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How to throw a holiday party on a budget

The holidays can very quickly add to your expenses and take you off your budget. We all want to ‘host to impress’ when throwing a party or holiday soirée. And this makes it easy to spend more money than needed to impress our guests. However,…

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The Financial Procrastinator’s Checklist

There is still time to end 2016 on a strong financial note. Tackle these ‘must-do’ activities. 1. Increase your bi-weekly contributions to your RRSP by $20. That’s the equivalent of two lunches and it adds up to just over $500 per year. If you keep…

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Homemade hostess gifts that won’t break the bank

Showing up to a party with a hostess gift is a great thank you and practice to start. When you go to a family or friends place for dinner we tend to gravitate towards gifts of chocolates of wine. Sometimes we can go a bit…

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Max out Benefits, Tax Credits and Renewals

Benefits: We pay into employer or self-funded benefit plans all year long. So, before they re-set for 2017, squeeze the most from your 2016 benefits. Tips: Call your provider to determine your remaining coverage for dental work, vision care, chiropractic, massage, physiotherapy and prescriptions. Make appointments…

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5 Ways to Entertain for Less

For most of us, entertaining season happens during the fall months. Between Thanskgiving, holiday parties, Christmas celebrations and New Year’s Eve….it can be exhausting and expensive. But, it doesn’t have to be. This week we’re sharing our best tips for entertaining that you can use…

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Squeeze Savings from Black Friday & Cyber Monday

Sales on Black Friday and Cyber Monday are comparable to Boxing Day, which is excellent if you’re looking to load up on holiday presents and big-ticket purchases. But, a good deal that you can’t afford is never a good deal. To avoid overspending, shop with…

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Is your cash flow dipping and spiking?

Remember when you were a child and your mother would sit at the dining room table balancing her chequebook? A bank reconciliation is the modern day version of that activity. Whether you are an entrepreneur or simply managing your household finances a bank reconciliation is…

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Grow Your Margin & Profits

Do you know which of your products and services are most profitable for your business? If the answer is no, you need to learn to calculate and manage your margins. Margin matters because if it’s positive, it means you’re adding value to the business – a.k.a….

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Avoid the Vortex Effect as a New Entrepreneur

Designing your business in isolation is dangerous. Big ideas tend to have vortex effect where the entrepreneur gets caught-up in their own thoughts; often missing important factors that impact their profitability and growth. For example, an entrepreneur developing a new hang-over medication could miss changes…

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Before You Get Started With A Business

Avoid the following mistakes that kill a business before it starts.   1. You don’t have a business plan. Use this one-page template to develop a roadmap for your business. If you can’t clearly answer all of these questions, you shouldn’t start your business.   2. Launching…

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