Edmonton Real Estate Blog

(NC) Understanding how to manage your money and budget better is important for financial health, especially during uncertain economic conditions. Each person’s situation is unique and requires a personalized approach, but with education and confidence, financial planning can become a less arduous task.

According to the TD Financial Health Index, a national benchmarking survey providing a portrait of Canadians' financial well-being, women tend to have lower “financial health” than men – particularly among younger groups. Women received an average financial health score of 64 – lower than the average score for all Canadians. 

Regardless of financial management experience, taking small, thoughtful and actionable steps towards building your wealth management skills can help improve your financial profile in any circumstance.

Here are some resources to consider:

  1. Read, review and reevaluate. Empowering yourself with the right resources can better equip you to...
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(NC) With the Bank of Canada recently raising its key interest rate once again, many of are concerned about the impact on our household debt and mortgages. Fortunately, there are many tips and tricks for saving and budgeting you can use for other areas in your life.

Try the three-category budget. It can be overwhelming trying to track all your expenses, but it is advisable to have a baseline to check your progress. Money experts recommend picking just three categories you want to focus and get a handle on, since most of us overspend in just one or two categories. The three-category system is an easy way to get started on trimming expenses.

Pay down high-interest debt. One in three of us sometimes buy things we can’t afford. If you’ve put a few too many purchases on your credit cards, a big portion of your monthly payment are going just towards paying down debt. To get out ahead, consider moving the debt to a low-interest option, like a line of credit. When paying off...

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