Author Archive for: Advisorsavvy

Rewards programs are mutually beneficial for retailers and customers alike. Companies want your business and are willing to offer huge incentives to maintain your loyalty to their brand. In turn, customers can benefit from accumulating rewards and using them for purchases or free items. Fortunately, Canadian consumers have many rewards programs to choose from. In fact, you can be apart of many loyalty programs to access all the benefits. But at the same time, it can be overwhelming to choose from all the options. Plus, no one likes having a million rewards cards in their wallet or phone. Rather, it’s better to find the best rewards program for you, your family and your needs. Explore the best rewards programs in Canada below so you can choose which one to sign up for. Keep reading to learn more! What is a rewards program? A rewards program is used by companies to attract and retain customers. Most often, rewards programs are offered

Saving money and sticking to a budget can be stressful, especially with the current housing crisis, inflation and rising cost of living. However, saving is required for healthy finances and achieving financial goals, whether your savings are for an emergency fund, down payments, or retirement. It is wise to have a plan and strategy in place to help you build up savings. If you’re unsure of where you stand with your savings journey, considering the average Canadian savings by age can be a useful benchmark. Unfortunately, many Canadians do not feel prepared for retirement or secure with their current savings. The average Canadian savings by age may be lower than you think. The younger you are, the better position you are in to start with small savings and working upwards. If you find yourself a little older, there is still a lot you can do to get your savings on track. Consider building a budget or seeking the support of

Tax planning in Canada is the personalized system you use to reduce the amount of taxes you are required to pay. In other words, it can help you maximize your yearly tax refund or reduce your annual tax liability. There are a few different methods used for tax planning in Canada. For beginners, it can be challenging to know where to start though. Plus, there are more complex tax planning strategies you can utilize when you have a better idea of your finances and taxes. More specifically, when you look at the law that governs the tax system in Canada. Your unique financial situation is best approached individually.Continue reading to understand where to start with tax planning and how to employ a personalized strategy this tax season! What is tax planning in Canada? Tax planning in Canada involves organizing your personal finances in a way that reduces the total tax you pay. This is not something that can be done

Canada is generally considered a safe and secure country. However, “safety” varies depending on the city or region you choose to live in.Whether you’re starting a family, considering a relocation, or want to ensure you have security in your life, you can discover the optimal safe location for you and your loved ones. When searching for a suitable city that’s safe for you and your loved ones, various factors come into play. Some of which include crime rates and neighborhood demographics. Regardless, it is quite possible to find cities that provide the finest balance of safety, livability, and community. Here we will discuss the top 10 safest cities in Canada and what makes these cities stand out. Keep reading to learn more! Related Reading: Best Monthly Dividend Stocks in Canada for 2023 What defines a “safe city” in Canada? Safety is key when choosing a city to call home, but how can you be certain a city is safe? The

Everyone has dreams. But to make those dreams a reality, you often need financial resources. For instance, if you’ve always wanted a cottage in Muskoka, you’ll need to save enough money for a down payment and earn enough monthly income to cover your mortgage. That’s where financial goals come into play. In most cases, the achievement of life goals goes hand in hand with the achievement of financial goals. If you struggle with understanding the importance of setting financial goals, keep reading. Your finances affect every aspect of your life. Figuring out how to set and achieve financial goals will lead you to financial freedom. Continue on to learn more! How important is financial planning for living a good life? Financial planning is very important for living a good life, especially considering the economic climate of Canada. Your finances affect every aspect of your well-being and lifestyle. There is a high importance to setting financial goals as well, as this

Healthcare in Canada is considered universal. Universal programs have their limitations and successes. No Canadian citizen or permanent resident goes without required, necessary medical care. This is part of the reason that Canada is perceived as one of the best countries to live in the world. However, there are some conditions to who has access to Canada free healthcare. Each province and territory operates their own healthcare insurance programs. Further, each program has different wait times for eligibility. This means even citizens and permanent residents can have periods without healthcare coverage. Each program offers different coverage for various services and products. In this article, we’ll cover all the nuances of Canada free healthcare. This includes who and what is covered, and what you’ll have to pay for out of pocket or by other means. Continue reading to learn more! Is healthcare free in Canada? Many services and products are included with free healthcare in Canada. However, the specific inclusions depend

How much can pencil cases, backpacks, and clothes possibly cost? If we’re talking about back to school shopping, Deloitte shares that parents are looking at an average of $597 per child. That same survey also notes a 24% increase in the price of school supplies due to inflation. And if you pair that with inflation’s effects on literally everything else? Yikes. It’s normal for parents like you to seek ways to curb their back to school shopping spending. This is one of many topics you can discuss with a financial advisor. In the meantime, we’ll dive a bit deeper into the state of back to school shopping this year, what things you should prioritize, and actionable tips to keep school spending low this year. What do school students buy the most? Top categories for back to school shopping include footwear (89%) and clothes (84%), according to Statista’s 2020 figures. Of course, the number one that topped all categories was groceries

Passive income, endless travel, and financial freedom are some things that come to mind when you hear the words “digital nomad.” Who wouldn’t want to learn how to become a digital nomad, if it meant being able to live and work from anywhere in the world?After all, travel is something many people crave, but they’re often limited by their job’s two week vacation limit. Keep in mind, the life of a digital nomad isn’t as rosy as the YouTube vloggers make it out to be. You actually need to put in lots of time into finding the right kind of work and putting your nomad life in motion. Plus, many that dive into it end up returning back home to stability when it’s not all it’s cracked out to be. The grass isn’t always greener on the other side! But that’s not to say you can’t have a fabulous life as a digital nomad. You just need to get your

Amidst inflation, the housing crisis, and mass lay offs, many Canadians are struggling to make ends meet. To combat rising costs, you can either cut expenses from your budget or earn more income. Some people choose to make extra money online or start a side hustle. Whereas others may choose to make a lateral move into one of the highest paying jobs in Canada. Ultimately, how you approach your personal finances during tough times is up to you. Some may find it easier to cut back on certain costs and others may prefer to earn more income. Cutting costs is usually more immediate, but it can be hard to sustain in the long run. On the hand, increasing your income can take time because you may need to acquire new skills or experience. But in the long run, increasing income tends to be more sustainable. If you’re ready to learn about the highest paying jobs in Canada and how to

Are you a teenager and wondering what you can do over the summer to earn some money? Maybe you are the parents of teenagers and want to get them a head start in the workforce. Summer jobs are a great way to earn some spending money. Teens can use summer jobs to get savings started or prepare for higher education. Summer jobs allow teenagers to join the workforce and get valuable experience. Many organizations help to find summer jobs for teens. Ultimately, it is beneficial for teens to find summer jobs. It gives them something to do, gives them experience, and helps establish a work ethic.Continue reading to learn more about summer jobs for teens in Canada below! Can you get a job at 15 in Canada? The age someone can start working in Canada ranges by province. Most provinces allow 15-year-olds to begin working. Some provinces require parental permission to start working at 15 or younger. The type of

It’s a Saturday morning, and you’re excitedly preparing for a day with your kids and family. But suddenly, your work responsibilities come crashing in and sabotage your plans.This all-too-familiar scenario makes you feel disappointed and frustrated. It might feel like you can never get the best of both worlds between your work and personal life. Sometimes it negatively affects your well being and mental health too. In a post-pandemic work setting where work-related stress has skyrocketed, imbibing work-life balance could help you stay sane. Ready to learn what is work life balance? Read on! What is work life balance? Work life balance refers to a state of equally prioritizing the demands of your personal life and those of your career. It goes beyond allocating equal time to professional and personal activities. Rather, a balanced work-life entails having a more realistic and flexible work schedule that reduces the risk of burnout.Some people see work-life balance as the ease of managing one’s

A lot of people find it difficult or intimidating to ask their bosses for a pay raise. This is totally understandable given that you’re the one who’s in a vulnerable position! However, if your company doesn’t do regular, annual salary increases in line with inflation or performance, knowing how to ask for a raise is a big plus.If you’ve never done it before, it’s never too late to learn. According to Payscale reports, numerous workers have succeeded in asking their bosses for a raise, but only 70% of workers that asked received it. Asking for a raise that reflects your level of productivity is normal, but your approach determines the results you get. For this reason, it helps to approach the query with a well thought out strategy. Even though your boss has an idea of how productive you are at your job, you still need to present your case for getting a raise. Luckily, this article will guide you