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Financial planning tips

December 18, 2017

2017 year-end roundup: Top financial planning tips

In case you missed it (or you just want to read it again), here’s some of 2017’s best reading on financial planning in Learn and Plan.

Life is expensive, and unexpected expenses such as car repairs or house maintenance can often make managing money even more challenging. According to the 2016 Sun Life Canadian Health Index, 45% of individuals are “experiencing uncomfortable levels of stress related to personal or household finances.” So how do you make the most of your money, and prepare for the future? While making more money helps, the key to financial wellness, regardless of your income, is good money management. Here are our top financial planning tips for 2017:

  1. How to save for tomorrow when you’re not sure about today

    In today’s economy, many workers are working contract, casual or part-time jobs. However, precarious employment doesn’t have to mean poor financial wellness. Here’s how you can improve your financial health, regardless of your employment status.

  2. How to attend a wedding on a budget

    According to a survey by American Express, it cost about $930 to go to a wedding in 2016 – that’s a significant expense. Here are some ways to celebrate your friends’ and family’s nuptials without breaking the bank.

  3. What type of life insurance do you need?

    If people are depending on you for survival, then it’s important to safeguard them through life insurance. There are many types of insurance available, but the type (or types) that’s best for you depends on your individual needs. Comparing the main kinds of life insurance can help you make an informed choice.

  4. 5 ways to take control of your finances

    Taking control of your finances can seem daunting at times. Here are 5 key ways to manage your finances, such as creating an emergency fund, keeping a diversified portfolio and rebalancing annually.

  5. RESPs: What happens if your child doesn’t go to university?

    RESPs are excellent vehicles for saving for your child’s education. But what if your child decides not to go to post-secondary school? School isn’t for everyone, so if your child decides not to go to college or university, don’t fret: You can still make use of the funds in that RESP. Here’s how.

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