Browsing Category Financial Advice

Debt is a major problem in Canada today. Everyone is sounding alarm, from the central banks to Bay Street, but is anyone heeding their advice? It doesn’t seem like it, according to the data. Here is what we know about the country’s addiction to debt: Total household debt is $2.2 trillion. Canadians owe $1.78 for every $1 of disposable income. Insolvency rates rose 9.2 percent last year. Borrowing costs are ballooning as interest rates gradually rise. Debt growth is roughly 3.5 percent per year – its peak was 6.3 percent in 2017. These are not good indicators of a strong economy. ...

Are you a Canadian saving for your future retirement? You are not alone. For anyone looking to maximize their financial resources in the future, a series of risk-averse investments where your money is safe is recommended. There are several different investment options in Canada, some of which are pretty standard among Canadians. It’s important to know all your available options, how certain types of investments work in Canada, and common, tried-and-tested ways to protect your savings. Here are the ten best investment options in Canada, as we discuss each option in greater detail:View post

From big name brands to corporations you would never expect to see go bankrupt, sometimes filing for bankruptcy is a necessary step towards protecting one’s assets. Maybe it’s strong competition, debt you can’t repay, internal business trouble, or something else. Here are some recent bankruptcies we think are worth noting.View post

“The theft or misappropriation of funds placed in one’s trust or belonging to one’s employer,” is the definition of embezzlement. This sounds like a pretty serious crime, but it is actually quite common in the world of today. Common enough that some embezzlement cases are more famous than others, anyway.View post

Should you file bankruptcy? In times of financial hardships or if you have more debt than you’re able to handle right now, you may be leaning towards bankruptcy protection. Fortunately, bankruptcy isn’t your only option. In Canada, bankruptcy alternatives can be more advantageous and protect you from the consequences of that come with declaring bankruptcy.View post

There are benefits to working commission-only. The obvious one is that you have the opportunity to have more freedom in your work schedule – the company isn’t paying you, so why do you have to be a model employee? That said, since you’re paid a commission, you have to do a little more than the average employee who gets a handsome hourly wage.View post