A minimum payment is the smallest amount of your credit card balance that you can pay each month to avoid paying late fees and damaging your credit history. But minimum payments are also how many people end up in deeper and deeper in credit car
A regular investment plan is a key part of your investment strategy that enables you to invest a set amount of money on a regular basis so that you can build your investment gradually. One of the best way to buy mutual funds or any savings prog
Common Mistakes In Managing Your Money: 1. Not planning: your budget is your spending plan. It will allow you to live within your means 2. Overspending: A full 76% of the average shopper’s spending decisions are made in store aisles, according
Today’s guest is Ato Yohannes Ferdinando Drar, mental health expert. Mr. Drar lives in Ottawa, Canada and our discussion was conducted over the phone. Many people today live beyond their means and carry a large amount of stress as a result. Fin
Vehicles that would have been completely unaffordable two decades ago are now financially accessible. Many consumers can buy cars with no money down, for a monthly, bi-weekly (or even daily) payment that has somehow become “affordable.” Most ca
In the episode, I will explain what an RRSP is, how it works and it’s benefits. As the same time I will briefly talk about Canada Pension Plan. A Registered Retirement Savings Plan, or RRSP, is a special type of investment account designed to h
In this episode Eden explains the process of finding the right Real Estate agent, making an offer, finding a real estate lawyer, finalizing the purchase and closing day. Finding the right real estate agent One of the first steps will be to inte
In this episode Eden K. Tewelde will discuss the step by step process of buying home for the first time. Step 1. Educate yourself to understand Real Estate Market and familiarize yourself with the Real Estate market trend in the area you are pl
In today’s episode I will talk about RESP. A Registered Education Savings Plan is an investment vehicle available to parents in Canada to save for their children’s post-secondary education . The principal advantages of RESPs are the access they
Credit reporting agency collects information about where you live and work, how you pay your bills, whether or not you have been sued, arrested, or filed for bankruptcy. All of this information is combined together in a credit report. A credit
In this episode I will discuss about ways to paying off debt. I will also share some additional strategies to manage debt. A debt management plan sets up a payment schedule for you to repay your debts. By voluntary agreement you deposit funds w
In this episode, Yonas shares his personal experience on buying insurance. He shares practical advice on how to do due diligence before buying insurance products. It is never late to start planning to invest into the protection of people you lo
Today’s guest is an insurance expert Yonas Tekle. Yonas is going to help us understand the different types insurance products, why we need them and how it fits into our financial planning. A life insurance policy is a contract with an insurance
Budgeting allows you to create a spending plan for your money, it ensures that you will always have enough money for the things you need and the things that are important to you. The 50%/30%/20% budgeting rule is spending 50% on needs and 30% o
In this episode I will continue my discussion on investment planning, portfolio building and types of investment accounts. I will also discuss what an index is and how it could fit into an investment strategy. An index fund is a type of mutual
In this episode you will learn how to start your investment planning and how to apply KYC. You will get an understanding of investment and account type selection process. Risk and reward of GICs, CDs, Bonds, Stocks, Mutual Funds and ETFs. The K
In this episode we will discuss about GICs/CDs, Bonds, Stocks, Mutual Funds and ETFs. A Guaranteed Investment Certificate (GIC) is a Canadian investment that offers a guaranteed rate of return over a fixed period of time, most commonly issued b