stnce, Author at ÍøÆØ³Ô¹Ï /blog/author/stnce/ Free personal financial plan Wed, 15 Jan 2020 20:00:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 /wp-content/uploads/2018/06/favicon.png stnce, Author at ÍøÆØ³Ô¹Ï /blog/author/stnce/ 32 32 Bridging the wage gap /blog/bridging-the-wage-gap/ /blog/bridging-the-wage-gap/#respond Wed, 18 Sep 2019 06:22:45 +0000 http://planswelldev.wpengine.com/?p=12257 The World Economic Forum ranked Canada only 16th overall in pay equity in 2017. Even now in 2019, women are only making 84¢ to every $1 made by men.

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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/bridging-the-wage-gap/feed/ 0 Financial confidence: Getting to know your relationship with money /blog/financial-confidence-getting-to-know-your-relationship-with-money/ /blog/financial-confidence-getting-to-know-your-relationship-with-money/#respond Fri, 25 Jan 2019 06:30:13 +0000 http://planswelldev.wpengine.com/?p=10075 Financial confidence starts with getting to know your relationship with money, knowing where to get advice, what to research, and how to make decisions.

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]]> The post Financial confidence: Getting to know your relationship with money appeared first on ÍøÆسԹÏ.

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