Income

Peter's picture

Finances For Couples II

Finances For Couples II: One approach to managing finances as a couple is to combine all your income and then pay each other an equal allowance.I've written in the past about one method which you can use to handle your finances as a couple. Of course, there are other ways to handle the money side of your relationship and depending on your personal situation a different method might work for you. Today I'll be looking at an alternative approach which you may want to consider.  ... read more of this story»

Peter's picture

Surprisingly High Salaries

Did you know that the salaries of all Ontario public sector employees earning over $100,000 are disclosed to the general public? I only recently discovered this. After doing some quick searching, I also discovered a couple of other things that surprised me:

  • There are a lot of people receiving very high salaries paid using public funds
  • There are a few professions which are stereotypically underpaid, yet have a strong contingent of members each earning over $100,000 annually.

Let's take a closer look at what I discovered and what I think we should take away from it all.  ... read more of this story»

Peter's picture

How About Partial Retirement?

Does your retirement feel like it is miles away? Have you crunched some numbers and found that you'll have to work thirty more years before you've saved enough to be able to quit your job? Maybe you need to bring the finish line a bit closer. Maybe you need to consider Partial Retirement ...  ... read more of this story»

Peter's picture

Getting Into Real Estate Without A Down Payment Or A Mortgage

It is often said, "Don't wait to buy real estate; buy real estate and wait!" Although these words might not ring true today in the midst of a housing market correction, having a portion of your investments in real estate can be an important way to further diversify your portfolio. So, does that mean you need to save for a down payment, get a mortgage, buy a house and then maintain it? Nope! Real estate investing can be a lot easier than that. Let's see how!  ... read more of this story»

Peter's picture

Wow! The Tax-Free Savings Account

The 2008 Federal Budget has an incredible treat for individual investors: The Tax-Free Savings Account or TFSA. This is how it is described in the budget press release: "This flexible, registered, general-purpose account will allow Canadians to watch their savings—including interest income, dividend payments and capital gains—grow tax-free." Let's take a closer look at how this will work.  ... read more of this story»

Peter's picture

Standing An Expense On Its Head

A great trick that I frequently use to get my frugal juices flowing is to look at my expenses in a different light. I've written before about seeing unnecessary expenses as potential income. Recently, however, I've come up with an even better perspective shifting trick that really hammers home the power of saving ... especially on those recurring monthly expenses. Let's see how we can get our savings to pay us dividends!  ... read more of this story»

Peter's picture

Finances For Couples

Finances For Couples: By taking the time to plan how you will handle your finances as a couple, you'll avoid one of the most common sources of tension in a relationship.If you've ever been in a relationship where money became an issue, you know how important it is to be open and honest about finances with your significant other. When my wife and I first moved in together she suggested we start things off on the right foot by establishing a fair and open method for dealing with our mutual expenses. Looking back, I think this was one of the best things we've done together as a couple and is one of the (many!) reasons we're so happy together. Today I'll show you how we handle our joint finances and I'll tell you why I think it works so well for us.  ... read more of this story»

Peter's picture

5 Reasons To Manage Your Money

The Value of Money Management: By tracking where each dollar you earn comes from and where it goes you'll be setting yourself up for financial success.One of the best ways to get yourself headed down the path to financial freedom is by getting a grip on your personal finances. I'm talking about knowing where your money comes from and knowing where it goes - in detail. Without this important information, you'll likely end up working a lot harder and a lot longer than you need to. Today I'm going to give you five good reasons why you should be managing your money and not just "going with the flow."  ... read more of this story»

Peter's picture

Personal Finance 101: Cash Flow & Net Worth

Personal Finance 101: Cash Flow & Net WorthSo far we've looked at income, expenses, assets and liabilities, but what do these all add up to? Well, today we'll be looking at Cash Flow & Net Worth the two basic measurements of our personal financial health. By maintaining a positive cash flow and building a strong net worth you'll be securing your financial future. Understanding this will help us to unlock the secrets of wealth and financial independence. Let's take a closer look.  ... read more of this story»

Peter's picture

Personal Finance 101: Income & Taxes

Personal Finance 101: Income & Taxes

Let me start by saying that not all income is created equal. This is primarily due to the different tax treatment of various sources of income. In this installment of the Personal Finance 101 series we'll take a look at four common sources of income: employment, interest, capital gains and dividends. We'll also look at how Canadian tax laws can significantly affect how much you get to keep at the end of the day. You might be surprised ... I know I was!  ... read more of this story»

Syndicate content