Shopping for life insurance can be confusing, especially if you’re doing it for the first time. Here are some things to look out for when you’re shopping for the right life insurance. Know what you need Figure out what your individual needs are. But what insurance is best for your needs? When researching life insurance, there are two products you need to know about, term and permanent. Term life insurance is often more affordable coverage for a fixed time period. Permanent insurance is lifelong coverage with a cash value that can by used to leave a legacy or support future financial needs. Use our free online insurance calculator to determine to assess how much insurance you need. Our Life Insurance Calculator asks you some simple questions and will give you an idea of how much life insurance to buy. Shop for Quotes It’s important to shop around when making an important...
Are podcasts an essential part of your day? Listening to these great finance podcasts can improve both your daily commute and your financial literacy. November is Financial Literacy Month in Canada. So, it's great time to increase your financial education. These Canadian podcasts will help you manage personal finances and plan for your future. 5 Great Canadian Finance Podcasts: 1. Mo Money Currently in her 11th season, Mo Money podcaster Jessica Moorhouse delivers personal financial advice in a warm, chatty way. Mo Money gets tackles money and lifestyle through conversations with interesting guests. Moorhouse tackles niche finance topics, that are often ignored by financial planning services, such as Reaching Financial Independence If You’re Single and What’s Its Really Like to Be a New Homeowner. Here’s a recent episode, where Moorhouse and financial planning guru, Shannon Lee Simmons take on baby-proofing your finances. 2. Because Money Podcast hosts Chris Enns,...
Your child's education is one of the best investments you can make. Grad expectations Does your child dream of going to college or university? Despite the rising costs of post-secondary education, you don’t need to be rich to help your child pay for a higher education. But you do need a plan, because no matter if you child wants to attend a university, college, vocational school or technical school - education costs money. According to Maclean’s magazine, students who live at home are spending an average of $9,300 during one school year. For those who move away costs are closer to $20,000. Creating a solid financial plan is key with tuition costs rising year over year. Not to mention, the financial toll that COVID-19 has placed on student’s ability to find jobs and possibly affected parents’ economic stability. Making a financial plan for your child's education Registered Education Savings Plan...
If you have someone who depends on you, life insurance isn’t a nice-to-have, it’s a must-have for your financial plan. Canadians are carrying more debt than ever before. In fact, Canadians owe $1.67 in consumer debt, mortgages and non-mortgage loans for every $1 of disposable income. It's a good idea to sit down with your family and figure out where you want to be in the next 5, 10 and 20 years. Whether it’s staying in your current home or moving to a larger space, growing your family or considering retirement, your family needs a solid financial plan to achieve those dreams. A good plan will include protection for your loved ones if you were to pass away unexpectedly. Are you responsible for financial obligations such as: Rent or mortgage payments Outstanding debts Tuition fees Funeral expenses Any other living expenses If the answer is yes – your loved ones...
