You’ve likely heard the expressions “save for a rainy day”, “keeping up with the Joneses” and “spend less than you make”, but how do these really apply to your budget in 2016? We take a look at some of the most commonly-given money advice and what it means for you.
This week on Money Wise we’re asking Canadians: How confident are you in today’s economy? After all, Canada emerged unscathed from the housing and investment bubbles that have ensnared our neighbouring nations – Germany’s Angela Merkel even praised our economic model as a potential solution for Europe’s woes.
I’ll admit it, I used to be one of those naïve individuals who believed that if I was paying a professional to do something that I couldn’t do myself, then they had to have my best interests at heart – no matter what. Sadly, the older I get, the more I realize that this isn’t the way the world works. Take, for instance, financial advisors. Knowing how your financial advisor gets paid will give you a better idea of where their interests lie.