Saving

Personal Finance Record-Keeping Made Easy

financial records

It used to be the case that keeping finance records was something that only business people and accountants had to do.  However, making sure you have your own finance records in good order is an important point for almost all of us to acknowledge today.

There are lots of different reasons for this, not least the record number of self employed individuals who operate in the UK today. However, tax self assessment forms for child benefit, various credit or loan applications and many other aspects of our day-to-day dealings now require us to have thorough and comprehensive finance records.

Detai...

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7 Tips to Avoid Holiday Debt

Christmas Debt

The Christmas holiday season is upon us again. For many, the holiday debt from last year’s shopping has only just been repaid, if at all. We have seen the madness on the media of ordinary folk who have temporarily been transformed into frenzied shoppers, battling each other for that great deal. I would suggest that all this does not represent the true meaning and spirit of the season, but that is a topic for another day.

I would like to share 7 tips which may assist you in avoiding or at least reducing your holiday debt:

1...

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15 Creative Christmas Gift Ideas under $100

Creative Christmas Gift Ideas

Finding the right gift for everyone on your Christmas list is not always easy, but keeping it practical helps a lot. Finding creative Christmas gift ideas without breaking the bank makes everybody happy. I’ve listed 15 ideas that should help you clue up your holiday shopping, and you may even decide that some of these items are a great way to treat yourself! You can find everything below on Amazon.com. If delivery options are limited outside the US, you can always check the Amazon online store for your country. For example, if you live in Canada, you may want to search Amazon Canada for the ...

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Trade In or Sell Your Used Car?

Trade In Or Sell Your Used Car?

So, you are buying or leasing a new car or upgrading to a later model one. See my previous articles: “Buying a Car: New or Used?” and “Purchase or Lease a New Car?” How should you dispose of your old car? Trade in or sell? This article deals with the issues that should be considered before you decide.

Buying Privately or Through a Dealer

If you decide to upgrade by buying a later model used car through a private deal, then the fate of your old car is obvious. If you wish to dispose of it, you must sell it privately...

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Saving for Retirement

Retirement Plan - Saving for Retirement

Most media articles you read these days that mention saving money suggest that most of us want to save for retirement but few actually manage to make much progress in that regard. There are plenty of reasons quoted for not saving, including the rising cost of living, too many expenses and not enough income, unexpected costs, interruption of income, expanded family and the list goes on. Although there are some very legitimate reasons such as health problems and loss of employment, the real culprit in most cases is, in one word, attitude.

The Problem

We live in a society today which promotes an ...

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RRSP or TFSA – Which Savings Plan is Best for You?

RRSP or TFSA?

What are RRSPs? What are TFSAs? How are they different? What are the advantages of RRSPs and the advantages TFSAs? Which is best fit for your savings plan? Registered Retirement Savings Plans (RRSP) and Tax Free Savings Accounts (TFSA) are both good ways to save and allow Canadians to invest in a variety of funds including guaranteed investment certificates (GICs), mutual funds, stocks and bonds. However, they are subject to very different tax treatment.

RRSP

The annual deduction limit for RRSPs, also known as contribution room, is 18 % of your previous year’s income as reported on your tax re...

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How to Reduce Your Debt

Cutting Expenses to Reduce Your Debt

As mentioned in the Article Debt: The Good, the Bad and the Ugly, consumers themselves must be very concerned about their spending and borrowing. They should be aware of the risks involved with rising interest rates, extended periods of financing, using your home as a piggy bank and maxed out balances when obtaining real estate mortgages, car loans and leases, lines of credit (LOC’s) and credit cards.

The Solution to Personal Debt

The solution is obvious and simple, but it is not easy for some...

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