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Which Areas of Global Fixed Income Are Most Attractive
After equity markets plunged in late 2018, attention turned back to fixed income. So where are advisors looking for exposure?
“Overall fixed income has been a challenging asset class due to the low and rising interest rate environment of the last few years. Although many portfolio managers currently have fixed income positions below their target benchmark, some are capitalizing on…
Getting Inside The Head Of The Ideal Fee Client
Industry analysts are pointing to growing demand for the fee model as more and more global regulators push for an end to embedded commissions and Canada appears ready to follow their lead. Some of your clients may have already made their decision, but for the average advisor, the question remains, which of the others to convert first, if at all?
4 Financial tips for newlyweds and couples
Just married? Congratulations. But if you and your spouse haven’t had a talk about your finances yet, experts say now is definitely the time.
A 2013 national survey conducted for CPA Canada revealed that over 92 per cent of those surveyed said they trust the money decision made by their significant other while four in 10 said they hard argued over money with their spouse and partner…
Financial lessons from immigrant parents
Like most immigrants, my parents started from scratch after they moved. They took on as much work (and as little debt) as they could and built up their bank accounts.
Their story isn’t’ unique either…
In a shaky economy, is it wiser to invest or pay debt?
“If you don’t need the money, leave it there and continue contributing if you can,” Gomes says. “If it’s a short-term goal and you need the money, you might not have the ability to ride out the markets.”
Recovering from debt following a business failure
You’ve poured your savings, your time and the past few years into your business venture, but it isn’t panning out. Now you’re left with a pile of debt and you’re on the hook to pay employees, investors and the banks.
That’s a lot of Canadian entrepreneurs grappling with a loss of a job and sometimes a mountain of debt from small business loans…
Understanding the basics of credit scores
"You likely know your credit score is important when buying a house or applying for a new credit card. But did you know it could affect where you rent or your chances at a job? Do you know exactly what your credit score is – how it’s calculated, who looks at it and what score (if any) is ideal?
If you’ve ever found yourself nodding along in a conversation about credit scores without quite knowing exactly what’s going on, it may be time to get back to basics and learn about the number that affects so many areas of your life.
Money and relationships: 3 options when finances unequal
When two incomes and two financial situations merge, it isn’t always a smooth transition. You and your partner may have major disparities in pay, debt loads or even just different lifestyles. So how do you merge your finances and keep your relationship intact?
How to kick-start your baby’s financial future
When you have a baby, you may start dreaming right away of putting her in years of skating lessons, sending him to an enlightening summer camp each June or dropping her off at a prestigious university. But all of these high hopes come with even higher price tags.
Refilling your retirement cash after using Home Buyers’ Plan
When you have a baby, you may start dreaming right away of putting her in years of skating lessons, sending him to an enlightening summer camp each June or dropping her off at a prestigious university. But all of these high hopes come with even higher price tags.
How to win a chargeback dispute
When you purchase something, you expect it to arrive on time and in the exact condition the retailer promised you. When that doesn’t happen, chargebacks are designed to reverse contentious transactions and get you your money back. Yet according to Canada’s Ombudsman for Banking Services and Investments (OBSI), credit card chargebacks were consumers’ number one escalated banking complain in 2013.
The complex process can indeed be exasperating. But there are things you can do to smooth the way…
How to negotiate a better credit card deal
Tired of paying the annual $120 fee on your credit card? Or are you wading in debt and need the relief of a lower interest rate? You can always try negotiating with your credit card provider to get a better deal. It just takes some planning, practice and patience, according to Canadian personal finance experts.
Before you scoff at the idea, give it a chance. You may be surprised at how easy it can be.
Psychological toll on marriage of debt, income disparity
Getting married means sharing a name and a house, but it also means sharing finances. If your partner makes more than you, or if you take on their debt after being debt-free for a long time, feelings of resentment, guilt or indebtedness start to surface.
Should you ever use your RRSP or TFSA to pay card debt?
Experts will consistently tell you that savings for your future shouldn’t be used as a lifeline, but are there any circumstances that make it worthwhile to withdraw from your retirement funds and tax-free savings accounts?
“You need to weigh the pros and cons of the decision,” says Mike Gomes, a Certified Financial Planner. “It’s about reviewing the math and deciding what is best for you.”
Are issuers clamping down on churning?
Many credit cards come with great sign-up bonuses – tens of thousands of rewards points, a free tablet, $100 or more in cash back. With extravagant incentives like these, it’s no wonder that credit card churning has caught on in Canada.
Churning is when someone gets a new credit card account solely for the sign-up bonus, then closes the card before the next annual fee kicks in. If a new promotion is unveiled, a churner will sign up for the card again, or sign up for a card form another issuer offering goodies. Consumer are catching on to the trend, but so are issuers, who are working hard to make sure new cardholders stick around longer than a year…
Should you use your inheritance to pay down debt?
“Inheritances are becoming very common as people are aging,” says Mike Gomes, a Toronto-based Certified Financial Planner. The windfall helps people cover the later years of their life or, if they’re carrying debt, it bails them out, he says.
What you need to know before applying for student loan
Getting into university is tough, but the financial aid process is, arguably, tougher. Student loans, grants, bursaries and scholarships are essential for most Canadians going to school, and the process for getting any kind of funds is complicated if you don’t’ know some basic information going into it…
Regional debt differences tell Canada’s economic stories
Got credit card debt? So do a lot of other people in Canada — but where you live might affect how much debt you’re carrying.
Canadians average $27,400 in consumer debt, according to an analysis of credit files by credit bureau TransUnion….
Beware of home ice advantage, urge advisors
The now-rock bottom value of the loonie has advisors cautioning clients against the quite-understandable home country bias – a phenomenon actually paying off with the currently slide.
“I think that inclusive or exclusive of the dollar, (investors) are always leaning towards Canadian-based investments,” says Mike Gomes, CFP.
“Canada represents such a small portion of global investments out there. I think (investors) will branch out.”
Be Smart About Automatic Payments on Your Credit Card
You have your monthly bills for your cell phone, cable, Internet, insurance, and utilities – and don’t’ forget your newspaper subscription, TV streaming service and gym membership. Sometimes, it’s hard to keep up with everything you have to pay.
Luckily, there is the automated bill payment, which is gaining popularity and for good reason: it’s convenient and it ensures the bills are paid on time. But if you get lazy about it, you could make the mistakes that will cost you…