Last week, a friend tagged me in a Facebook post requesting my personal finance wizardry skills regarding borrowing to make a down-payment on a home, and I was happy to oblige. Unfortunately, when I saw what the authors of the post were advocating, I couldn’t help but give my heated two-cents. The authors of the post did not take well to my voice of reason and my comments were deleted and I was promptly banned from the Facebook page. The post I was responding to was by a local mortgage broker encouraging people to take out a line of credit in order to make a down-payment on a home. They touted low interest rates and stable house prices a reasons to take advantage of the opportunity, then drove the point home that doing so would put you ahead of renting using some really manipulative math. You can view the original post here, but the gist of it was […]
As you read this message, yours truly is stomping through a jungle, hiking a volcano, or trying to get her iPhone back from a monkey. I’m in Costa Rica until the end of the month for my honeymoon so unfortunately cannot blog my little heart out during this time, but I do think this is an excellent time to introduce you to some of my favorite bloggers so you have tons of content to keep you occupied while I’m gone. Blonde On a Budget Chances are you already read Cait because she is a big deal. Cait & I have been blogging buddies and friends for years, and I’d probably be a rabid shopaholic without her inspiration and influence for minimalism. Cait is in the middle of a two-year shopping ban, and always has insightful posts on how to live with less. Unsettle The genius behind Unsettle is my friend […]
I’m basically answering the most popular question of all time: If you prefer to digest this info in text form, check my post from last year: Should You Invest or Pay Off Debt?
Mixing love and money isn’t easy. Couples cite sharing finances is as one of the biggest stressors in a relationship — it even comes out ahead of addiction or emotional abuse. Why is it so hard? Because differences in income, debt, savings, spending habits, and values can be rife with power struggles. Sometimes on partner is passionate about the family budget, and the other doesn’t care about money at all. Finding common ground can be extremely difficult but balancing a chequebook together doesn’t have to be a battle. Below are a few different ways to share finances with your partner: Split everything 50/50. Many couples choose to split costs halfway down the middle. These means each person contributes equally to fixed and variable expenses, regardless of income. The easiest way to do this is to add up all your regular costs each month, and divided it by two. This is how […]
Most Canadians are not making good use of their RRSP — especially when it comes to using it for things other than retirement, like going back to school or buying their first home! In this video, I explain how to get the most out of your RRSP… in less than 3 minutes ;)