Lauren Arnold, Author at ÍøÆØ³Ô¹Ï /blog/author/laurenarnold/ Free personal financial plan Thu, 16 Jan 2020 02:56:18 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 /wp-content/uploads/2018/06/favicon.png Lauren Arnold, Author at ÍøÆØ³Ô¹Ï /blog/author/laurenarnold/ 32 32 RESP 101: Everything you need to know /blog/resp-101-everything-you-need-to-know/ /blog/resp-101-everything-you-need-to-know/#respond Thu, 29 Aug 2019 06:28:04 +0000 http://planswelldev.wpengine.com/?p=12180 The Canadian government introduced RESPs in 1974 to encourage Canadians to save for their children ÍøÆØ³Ô¹Ï â€™s education. Here's everything you need to know about them.

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]]> If at all possible, save in advance for your renovation project. If you can, spend this spring cleaning and polishing (you ÍøÆØ³Ô¹Ï â€™ll be amazed at what some elbow grease and fresh paint can do for your space), and plan to take a hammer to it next year. Not only will that leave you with 12 months to save in advance, it will also give you a chance to think carefully about your renovation plans and keep an eye open for sales on items you ÍøÆØ³Ô¹Ï â€™ll need.

For home renovations, there are two savings tools that work particularly well.

The first is a high interest savings account. Unlike the regular savings account at your bank that probably pays next-to-no interest, a pays in the neighbourhood of 2.3% interest and allows you to withdraw your money at any time.

The second is a (TFSA) which, despite the name, can be used as a container for all sorts of investments. The advantage of using a TFSA is that you don ÍøÆØ³Ô¹Ï â€™t have to pay tax on your investment income, and you can take out your money without penalty at any time.

Even though there ÍøÆØ³Ô¹Ï â€™s a program in place that allows you to , it ÍøÆØ³Ô¹Ï â€™s not recommended to withdraw money from your RRSP to fund a renovation. You won ÍøÆØ³Ô¹Ï â€™t get the contribution room back and you ÍøÆØ³Ô¹Ï â€™ll pay expensive tax on the withdrawals. Leave your retirement fund alone and consider other choices for home improvements.

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]]> /blog/resp-101-everything-you-need-to-know/feed/ 0 Back to school budgeting 101 /blog/back-to-school-budgeting-101/ /blog/back-to-school-budgeting-101/#respond Tue, 27 Aug 2019 06:02:28 +0000 http://planswelldev.wpengine.com/?p=11796 Back-to-school season means that there's an ever-growing list of to-do ÍøÆØ³Ô¹Ï â€™s that Canadian families are slowly starting to check off. Are you ready?

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]]> If at all possible, save in advance for your renovation project. If you can, spend this spring cleaning and polishing (you ÍøÆØ³Ô¹Ï â€™ll be amazed at what some elbow grease and fresh paint can do for your space), and plan to take a hammer to it next year. Not only will that leave you with 12 months to save in advance, it will also give you a chance to think carefully about your renovation plans and keep an eye open for sales on items you ÍøÆØ³Ô¹Ï â€™ll need.

For home renovations, there are two savings tools that work particularly well.

The first is a high interest savings account. Unlike the regular savings account at your bank that probably pays next-to-no interest, a pays in the neighbourhood of 2.3% interest and allows you to withdraw your money at any time.

The second is a (TFSA) which, despite the name, can be used as a container for all sorts of investments. The advantage of using a TFSA is that you don ÍøÆØ³Ô¹Ï â€™t have to pay tax on your investment income, and you can take out your money without penalty at any time.

Even though there ÍøÆØ³Ô¹Ï â€™s a program in place that allows you to , it ÍøÆØ³Ô¹Ï â€™s not recommended to withdraw money from your RRSP to fund a renovation. You won ÍøÆØ³Ô¹Ï â€™t get the contribution room back and you ÍøÆØ³Ô¹Ï â€™ll pay expensive tax on the withdrawals. Leave your retirement fund alone and consider other choices for home improvements.

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]]> /blog/back-to-school-budgeting-101/feed/ 0 4 simple retirement questions most people can’t answer /blog/4-simple-retirement-questions-most-people-cant-answer/ /blog/4-simple-retirement-questions-most-people-cant-answer/#respond Tue, 16 Jul 2019 06:29:47 +0000 http://planswelldev.wpengine.com/?p=11621 Here are 4 retirement questions that you need to answer for yourself, and unfortunately, most people can't answer for themselves.

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]]> If at all possible, save in advance for your renovation project. If you can, spend this spring cleaning and polishing (you ÍøÆØ³Ô¹Ï â€™ll be amazed at what some elbow grease and fresh paint can do for your space), and plan to take a hammer to it next year. Not only will that leave you with 12 months to save in advance, it will also give you a chance to think carefully about your renovation plans and keep an eye open for sales on items you ÍøÆØ³Ô¹Ï â€™ll need.

For home renovations, there are two savings tools that work particularly well.

The first is a high interest savings account. Unlike the regular savings account at your bank that probably pays next-to-no interest, a pays in the neighbourhood of 2.3% interest and allows you to withdraw your money at any time.

The second is a (TFSA) which, despite the name, can be used as a container for all sorts of investments. The advantage of using a TFSA is that you don ÍøÆØ³Ô¹Ï â€™t have to pay tax on your investment income, and you can take out your money without penalty at any time.

Even though there ÍøÆØ³Ô¹Ï â€™s a program in place that allows you to , it ÍøÆØ³Ô¹Ï â€™s not recommended to withdraw money from your RRSP to fund a renovation. You won ÍøÆØ³Ô¹Ï â€™t get the contribution room back and you ÍøÆØ³Ô¹Ï â€™ll pay expensive tax on the withdrawals. Leave your retirement fund alone and consider other choices for home improvements.

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]]> /blog/4-simple-retirement-questions-most-people-cant-answer/feed/ 0 Home Buyers’ Plan 101: Everything you need to know /blog/home-buyers-plan/ /blog/home-buyers-plan/#respond Tue, 18 Jun 2019 17:37:34 +0000 http://planswelldev.wpengine.com/?p=11411 The RRSP Home Buyers ÍøÆØ³Ô¹Ï â€™ Plan (HBP) is a tax-free way to fund your mortgage down payment and an awesome tool to help you get closer to owning your first home.

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]]> If at all possible, save in advance for your renovation project. If you can, spend this spring cleaning and polishing (you ÍøÆØ³Ô¹Ï â€™ll be amazed at what some elbow grease and fresh paint can do for your space), and plan to take a hammer to it next year. Not only will that leave you with 12 months to save in advance, it will also give you a chance to think carefully about your renovation plans and keep an eye open for sales on items you ÍøÆØ³Ô¹Ï â€™ll need.

For home renovations, there are two savings tools that work particularly well.

The first is a high interest savings account. Unlike the regular savings account at your bank that probably pays next-to-no interest, a pays in the neighbourhood of 2.3% interest and allows you to withdraw your money at any time.

The second is a (TFSA) which, despite the name, can be used as a container for all sorts of investments. The advantage of using a TFSA is that you don ÍøÆØ³Ô¹Ï â€™t have to pay tax on your investment income, and you can take out your money without penalty at any time.

Even though there ÍøÆØ³Ô¹Ï â€™s a program in place that allows you to , it ÍøÆØ³Ô¹Ï â€™s not recommended to withdraw money from your RRSP to fund a renovation. You won ÍøÆØ³Ô¹Ï â€™t get the contribution room back and you ÍøÆØ³Ô¹Ï â€™ll pay expensive tax on the withdrawals. Leave your retirement fund alone and consider other choices for home improvements.

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]]> /blog/home-buyers-plan/feed/ 0 Emergency Fund 101: Do I really need one? /blog/emergency-fund-101/ /blog/emergency-fund-101/#respond Thu, 30 May 2019 06:14:27 +0000 http://planswelldev.wpengine.com/?p=11125 Big or small, people experience financial emergencies all the time. One of the best ways to get through a financial emergency is to build an emergency fund.

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]]> If at all possible, save in advance for your renovation project. If you can, spend this spring cleaning and polishing (you ÍøÆØ³Ô¹Ï â€™ll be amazed at what some elbow grease and fresh paint can do for your space), and plan to take a hammer to it next year. Not only will that leave you with 12 months to save in advance, it will also give you a chance to think carefully about your renovation plans and keep an eye open for sales on items you ÍøÆØ³Ô¹Ï â€™ll need.

For home renovations, there are two savings tools that work particularly well.

The first is a high interest savings account. Unlike the regular savings account at your bank that probably pays next-to-no interest, a pays in the neighbourhood of 2.3% interest and allows you to withdraw your money at any time.

The second is a (TFSA) which, despite the name, can be used as a container for all sorts of investments. The advantage of using a TFSA is that you don ÍøÆØ³Ô¹Ï â€™t have to pay tax on your investment income, and you can take out your money without penalty at any time.

Even though there ÍøÆØ³Ô¹Ï â€™s a program in place that allows you to , it ÍøÆØ³Ô¹Ï â€™s not recommended to withdraw money from your RRSP to fund a renovation. You won ÍøÆØ³Ô¹Ï â€™t get the contribution room back and you ÍøÆØ³Ô¹Ï â€™ll pay expensive tax on the withdrawals. Leave your retirement fund alone and consider other choices for home improvements.

The post Emergency Fund 101: Do I really need one? appeared first on ÍøÆسԹÏ.

]]> /blog/emergency-fund-101/feed/ 0 Renting vs Buying: Which one is better? /blog/renting-vs-buying/ /blog/renting-vs-buying/#respond Wed, 15 May 2019 06:24:50 +0000 http://planswelldev.wpengine.com/?p=11070 Renting vs owning a home is a hotly debated topic, but which one is better for your situation? To help you have a clearer idea of your options, here are some benefits and downsides of either owning a home, or renting.

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]]> The post Renting vs Buying: Which one is better? appeared first on ÍøÆسԹÏ.

]]> /blog/renting-vs-buying/feed/ 0 3 things to do with your Canadian tax refund /blog/3-things-to-do-with-your-canadian-tax-refund/ /blog/3-things-to-do-with-your-canadian-tax-refund/#respond Mon, 29 Apr 2019 15:05:41 +0000 http://planswelldev.wpengine.com/?p=10896 Before you go booking an impromptu vacation or treating yourself to a new TV, here are the 3 things you should do with your tax refund.

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]]> The post 3 things to do with your Canadian tax refund appeared first on ÍøÆسԹÏ.

]]> /blog/3-things-to-do-with-your-canadian-tax-refund/feed/ 0 What the federal budget means for your financial plan /blog/what-the-federal-budget-means-for-your-financial-plan/ /blog/what-the-federal-budget-means-for-your-financial-plan/#respond Wed, 20 Mar 2019 15:15:03 +0000 http://planswelldev.wpengine.com/?p=10636 Wondering what the federal budget will really mean for Canadians and their financial plan? Here are the 4 biggest takeaways that may affect your plan.

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]]> The post What the federal budget means for your financial plan appeared first on ÍøÆسԹÏ.

]]> /blog/what-the-federal-budget-means-for-your-financial-plan/feed/ 0 Our 4 favourite tax preparers /blog/our-4-favourite-tax-preparers/ /blog/our-4-favourite-tax-preparers/#respond Fri, 08 Mar 2019 06:50:14 +0000 http://planswelldev.wpengine.com/?p=10389 There are only 2 things certain in life: Death and taxes. Here's our list of 4 tax preparers that can help you gain a bigger return or minimize the taxes you owe this tax season.

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]]> The post Our 4 favourite tax preparers appeared first on ÍøÆسԹÏ.

]]> /blog/our-4-favourite-tax-preparers/feed/ 0 ÍøÆØ³Ô¹Ï ÍøÆØ³Ô¹Ï â€™s Top 9 Favourite Canadian Business Podcasts /blog/top-9-favourite-canadian-podcasts/ /blog/top-9-favourite-canadian-podcasts/#respond Tue, 04 Dec 2018 06:13:03 +0000 http://planswelldev.wpengine.com/?p=9077 At ÍøÆسԹÏ, we love to share great Canadian entertainment and news. Here ÍøÆØ³Ô¹Ï â€™s our list of the top 9 Canadian business podcasts that you'll want to listen to on your morning commute.

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]]> The post ÍøÆØ³Ô¹Ï ÍøÆØ³Ô¹Ï â€™s Top 9 Favourite Canadian Business Podcasts appeared first on ÍøÆسԹÏ.

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