(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 any debt, prioritize the higher-interest loans you have and work your way down.

Boost your education. If you don’t know much about personal finances, you’re not alone. A recent survey by the Chartered Professional Accountants of Canada revealed 49 per cent of Canadians grade themselves C or lower on their overall personal financial skills. But it’s hard to get your budget on track when you don’t have the right tools or knowledge. Do some research and work with an expert like a chartered professional accountant to get a better handle on your income and expenses.

Work together. If you’re married or are splitting expenses with a relative, you need to be on the same page about spending and savings goals. So, sit down to outline your priorities together and create a realistic budget you both feel comfortable with and can stick to. You can even try an online budgeting tool or app to help you both track and understand expenses.

Find more information and resources to get on a path of long-term financial health at cpacanada.ca/financialwellness and also request a free educational session for any organization you’re part of.

(NC) For many of us, the aesthetics of our home –– a colourful garden, new furniture or trendy appliances –– often become our primary focus. But this can leave little time for unseen elements that can become a safety hazard.

Something overlooked like a loose or frayed cord can spark a house fire, and this happens most frequently during the winter months, according to the Canadian Red Cross.

It doesn’t take much for a fire to start in your home, but it doesn’t take much to prevent one. That’s why around this time of year, it’s crucial to take small, precautionary measures that will keep your family out of harm’s way. Here are four easy steps for a fire-free home:

1. Develop a fire escape plan. Should a fire occur, it’s important to evacuate the home as quickly as possible. Creating a fire escape plan and practicing that plan twice a year will help ensure the safety of your loved ones in the event of a fire.

2. Check smoke detectors frequently. A functioning smoke detector can be the difference between a false alarm and a life-threatening scenario. Install them on every level of the house and take the time to test them monthly, replacing batteries at least twice a year; daylight saving time always serves as a good reminder.

3. Store and recycle batteries the right way. Once you have changed the batteries in your devices, be sure to recycle the old ones. Used batteries that are disposed of or stored incorrectly or damaged can be a safety hazard. Keep your home and the environment safe by recycling all your old batteries. Call2Recycle Canada has more than 8,000 drop-off locations across the country, so one is bound to be close by. You can visit their website at call2recycle.ca and plug in your postal code to find one closest to you.

4. Pay attention to detail. Have an eye for the little things. Make sure your home’s heating sources are clean, as many house fires are started by poorly maintained furnaces or stoves, or chimneys with buildup. Check wiring and cords and fix or replace any frayed extension cords, exposed wires or loose plugs. Finally, make sure to store combustible materials in open areas and away from heat sources.