What is a Home Equity Line Of Credit? Short answer – it’s a debt trap that’s best avoided. At its heart, a HELOC is a debt product that banks offer to homeowners which permits the homeowner to go into debt by spending the equity in their home without selling it first. For example, if you […]
It’s Registered Retirement Savings Plan season! From now until the last day of February, there will many advertisements all over the place exhorting you to make a contribution to your RRSP. If you need more detailed information about the rules, then I would suggest that you visit the website for the Canada Revenue Agency. Alternatively, […]
Buying a new vehicle is not a decision to be undertaken lightly since the financial ramifications can put a serious crimp in your cash flow for a very long time if you’re not careful. Check out this article on how Canadians are taking out lengthy car loans to minimize the monthly payment. Think about it for […]
Debt is a cancer to building intergenerational wealth. The phrase intergenerational wealth conjures up images of the very, very rich who are able to bestow entire empires upon their progeny. Truthfully, the concept doesn’t require anything quite that elaborate. My definition of intergenerational wealth is the ability to provide financial assistance to your offspring in […]
I’m a visual leaner so when information can be presented in a picture, then I absorb it a lot faster. That’s why I was so damned impressed when I came across the following link on one of my travels through the Internet: Cash Flow Diagrams. In all honesty, this is one of the best links I have […]