You’re looking into getting a car loan. Is this a good idea for your credit score? What about your life in general? One thing you want to avoid is “bad debt.” All debt is bad in a way, but there are some debts that are worth it for future financial benefits. For example, a student […]
Which debt repayment method is right for you?
You will have heard about the avalanche debt repayment method. You will have also heard about the snowball method. Which one is right? I can’t tell you the amount of people who think they know the best way for people to pay off debt. They always tell me “the best option is always the avalanche […]
Why your emergency fund needs to be in a savings account
You don’t want your emergency fund tied up in an investment. It needs to be in a savings account, and here’s why. I know it seems weird for a financial advisor to tell you to not put your money into an investment account, but that’s what I’m doing right now. Your emergency fund should not […]
How to improve your finances after divorce
A divorce is hard on your finances. It’s even harder moving from two incomes to one. You can improve your finances after divorce, and here are my steps to manage it. I’ve already done it! Divorces take a lot out of us. They’re full of emotion, especially if the divorce has come from infidelity or […]
Why you shouldn’t combine finances with a new partner
You’ve moving in with a new partner, and you need to figure out what to do with your finances. Here’s why you should combine finances. When you move in with a new partner, you need to decide if you’re going to combine finances or not. In most cases, combining your finances is going to happen. […]
Why you should combine finances when you move in with your partner
Having the money talk before you move in with a partner is essential. Part of the talk is whether you will combine finances or not. Here’s a look at why combining finances could be a good idea. You need to have the money talk when it comes to moving in with a partner. This is […]
What should you do with your tax refund?
It’s tax time in North America, and that means some people are going to get a tax refund. What should you do with that money you get back? We all groan when it comes to tax time. It comes around every year. We know it’s going to happen, but that doesn’t stop us from hating […]
3 money tips to go from two incomes to one
There are various reasons you’ll go from two incomes down to just one. You need to follow these three money tips to avoid stress. Maybe you and your roommate decided to go separate ways so you’re the only one paying the bills now. Maybe you and your partner broke up. There may have even been […]
Zero-based budgeting doesn’t mean you need to spend every penny
A zero-based budget is something a lot of people look at doing. This doesn’t mean you have to spend every penny, but each one needs a job. As you look into the ways of budgeting, you may come across the term “zero-based budgeting.” This involves giving every dollar from your paycheck a job. It doesn’t […]
When is debt consolidation a good idea to do?
I don’t often recommend debt consolidation to people. There are times that it really is the best option, and here’s when that is. When it comes to dealing with debt, it’s not often that I recommend debt consolidation. I have done it in the past, though. I know how useful it can be, but I […]