Are you a worrywart about your wealth? Stress has been identified as a leading killer of Canadians – but many just can’t seem to keep calm when it comes to their finances.
A recent study found that only 32 per cent of Canadians feel optimistic about the economy, with another 37 per cent seriously concerned about their savings habits. Read on for ways to get your fears under control – and how to take action if there’s really cause to worry.
Coping With Financial Anxiety
It’s normal to fret over finances – but if you’re starting to lose sleep over the status of your bank account, it could be time to get some help.
Financial anxiety is a growing problem in Canada, and as a study from the Vanier Institute points to higher debt loads and lower wages becoming the norm, it’s clear Canadians need a hand securing their financial standing.
Read Diane’s Blog | Coping With Financial Anxiety
When Should You Declare Bankruptcy?
Bankruptcy may seem like the end of the line, but it could be your best option if you’re in a deep hole of debt.
Throwing in the financial towel is not a decision to take likely – and not to be made without exploring all alternatives first. Read on to understand more about bankruptcy, and the effect it will have on your finances for years to come.
Read Allan’s Blog | When Should You Declare Bankruptcy?
Stop Living Pay Cheque to Pay Cheque
Make a budget. Set aside for savings. Create a rainy day fund. Adhering to the golden pillars of financial responsibility can be a real challenge when you’re just scraping by.
It can be tough to break the pay cheque to pay cheque chain, but we have some tips for you to get ahead of the calendar.
Read Melanie’s Blog | Stop Living Pay Cheque to Pay Cheque
And in this week’s headlines…
Explore Your Downsizing Alternatives
Downsizing to a smaller home or condo can be an effective way to free up equity, but it’s not always the right route. If you’re a boomer looking to cut corners, but can’t bear to part with the family home, consider these options.
Read Rubina’s Blog | Your Downsizing Alternatives
Tips To Cut Your Cable Bill
Do you dread your monthly cable bill? Chances are you could save big from taking a second look at your TV expenses. Check out our tips for finding cable alternatives and your favourite channels on the cheap.
Read Penelope’s Blog | Tips to Cut Your Cable Bill
The Best Online Investing Resources
Wondering where to find up-to-date info and tools on investing? Check out this great infographic from The Globe and Mail’s Globe Investor, featuring RateSupermarket.ca as the best place for GIC rate comparisons.
Read Penelope’s Blog | The Best Online Investing Resources
My Province is More Financially Savvy Than Yours
When it comes to personal finance, Canadians are know-it-alls. Or at least they think they are, according to the RBC Canadian Consumer Outlook survey. On a national scale, 70 per cent of Canadians rate their own financial knowledge as “excellent / good”, while another 65 per cent think the average Canadian’s ranks as “not very good” when it comes to financial know-how.
Read Andrew’s Blog | My Province is More Financially Savvy
12 Years For Average Canadian Grad to Save 5% Down Payment
Securing the Canadian dream – a good job, nice car and an affordable mortgage – may be increasingly out of reach for the millennial generation. A new research study from RateSupermarket.ca, Canada’s independent personal finance comparison site, offers the projections of future costs of living for young people starting out today.
Read Kelvin’s Blog | 12 Years For Average Grad to Save
Living With Debt Is The New Normal
A new poll finds 92 per cent of Canadians would willingly take out debt – even when it’s not absolutely necessary. Canadians may be more comfortable living with their debt – and as a result, we’re maxing out faster.
Read Penelope’s Blog | Living With Debt Is The New Normal
This week we asked Canadians:
What stresses you the most about your money?
40.6% of Canadians wish they could get a better handle on their finances, and stop living pay cheque to pay cheque.
28.1 of respondents feel they’ve got their finances under control – no need to worry here!
27.1% however, say they can’t help but have general anxiety about their money – to the point where it keeps them up at night.
4.2% worry a looming bankruptcy may be the only way to financial freedom.
Want in on the winning action? Check out this week’s poll question: