Financial Clinic - Money Coaches and Financial Educators

11/19/2022

5 tips to keep you financially safe.

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09/07/2022

We liked this post from Suze Orman. ´If you expect your money to take care of you, you must take care of your money’ 🧐

💲Money has no power of its own.
You alone are the power source. You are the one who makes the choices to spend money, to save money, to borrow money. That's why I say money is such an amazing teacher: What you choose to do with your money shows whether you are truly powerful or powerless.

08/21/2022

Cost-cutting strategies that you can try, she said, include "shopping at home" to see what supplies you already have, carefully comparing prices between stores, waiting to buy certain items when deals are more abundant, and using coupon-code apps when online shopping. - Melissa Leong

With inflation high and prices still on the rise, many parents are concerned with how to navigate their kids’ back-to-school needs this season. CBC News talked to personal finance specialists and a deal-finding expert for tips on cutting costs ahead of a new school year.

06/30/2022

05/19/2022

Congratulations to Sandy Yong! We are looking forward to reading your column!

Get to know Sandy Yong, personal finance author and MoneySense’s newest columnist.

05/06/2022

Give your mother a gift of financial wellness - 20% off all our products until Friday May 13!

04/22/2022

May we all say thank you to our beautiful earth on her special day!

04/21/2022

How much house can we really afford?

According to StatsCanada, the average household income in Canada is 66K. The average income of a single person household is 34K.

The average price of a home in Canada is now 816K, an almost 100% increase in 6 years.

Real estate is now part of Canada's top three "industries", along with oil and gas, and mining.

Think you can buy a home if you just pull yourself up by your bootstraps?

If you use the CMHC "housing affordability" calculator for a 66K household with a 50K down payment and $1100/month non-housing related expenses, it says that household can afford a $292K house.

According to the housing affordability calculator, a household would need to earn 134K, have 100k downpayment, and no more than $1100/month in non-house related expenses to afford a $816K home.

According to StatsCanada, only 10% of Canadian households earn over 100K per year. That means that 90% of Canadians cannot afford an average Canadian home. Those without family wealth or access to wealthy co-signers have very limited options. Rent is also going up faster than income.

Stats were all taken from the public StatsCan website, the CREA website with mortgage estimates from the CMHC website.
Credit: Rhoneil Marie

04/14/2022

Interest rates are increasing! Time to pay down debt!
Start today!
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04/13/2022

New electronic banking alerts. You may have already received an invitation from your bank to sign up for these.

Starting June 30, 2022, banks will be required to send alerts to their clients. This will be especially helpful for anyone wanting more control over their finances. It will also be helpful to sign up for these alerts to ...