Blog

Do you have a debt free date?

Posted on: May 7, 2014

Credit is seductive. Credit card companies spend millions of dollars to convince you to borrow their money. They have catchy slogans like:

  • It’s everywhere you want to be. (Visa)
  • There are some things money can’t buy. For everything else there’s Mastercard.
  • What’s in your wallet? (Capital One)
  • Don’t leave home without it. (American Express)

Couple Calculating BudgetIt’s no wonder that credit monitoring agency TransUnion is predicting the average consumer’s debt will reach an all time high by the end of 2014.  It’s also no wonder that if you google debt stress you’ll get over 69 MILLION results

But there are things you can do right now to lower debt and debt stress. Continue reading →

Posted in Debt


Book Review: Findependence Day by Jonathan Chevreau

Posted on: May 1, 2014

FindependenceDayBook-200x300The editor of MoneySense magazine has written another book called Findependence Day: How to achieve Financial Independence — while you’re still young enough to enjoy it. This time it’s a financial novel telling a story, instead of the usual factual personal finance book.

Some have compared and equated this book to the original The Wealthy Barber by David Chilton. It tells a story of a young couple just starting out with their finances and the inevitable pitfalls that come along in life. But, that’s where the similarities end.

This story is directed straight at our current Canadian society and how credit has affected our way of thinking and our behavior around money. Chevreau also cleverly weaves in an added vinyl music motif, using old lyrics to title each chapter. This draws multiple generations in, and instantly connects the reader to the life and emotional component of money. Continue reading →

Posted in Book Reviews




Success Story: Frank and Alison – finding a way forward and rebuilding trust

Posted on: March 25, 2014

(The following story is used by permission and the clients names have been changed for privacy)

In 2012 Frank and Alison had a combined income of $175,000 yet found themselves arguing about the purchase of raspberries. When they realized financial stress was tearing their relationship apart, they turned to Money Coach Christine White for help.

HiResFrank had recently been through a consumer proposal that had resulted in the couple downsizing their home to pay off debts. Yet despite that, he would often slip back into his “you only live once” attitude, and new debt began accumulating.

The new debt made Alison anxious. Apart from their recent struggles and downsizing, she knew Frank had declared bankruptcy in his early twenties. She threatened to walk out of the marriage if his spending brought them down again.  Continue reading →

Posted in Debt, Money Coaching, Relationship to money, Success Stories


Five reasons budgets fail

Posted on: March 4, 2014

The majority of our clients make a very good income, yet many find themselves struggling to get ahead financially. Time and again one of the first things we’re asked is; what am I doing wrong? 

Most have tried to stick to a budget with little success, so the question is; why do budgets that work on paper, fail to work in practice?  We’ve identified five reasons that contribute to budget frustration.

Exhausted

1. Unrealistic or Missing Numbers

Many of us underestimate how much we actually spend on everything from groceries and gifts to dining out. We also tend to forget to include expenses like annual credit card fees, Halloween candy, iTunes, Netflix, school field trips, school lunch programs, Costco memberships, and charitable donations.

Continue reading →

Posted in Budgeting and Cash Flow


Success Story: From retirement fears to retirement focus

Posted on: February 18, 2014

Feb 18 blog post image

How much do you need to retire? 

Did that question make your stomach do a little flip? If it did you’re not alone. The question, “Will I have enough?” is on many people’s minds when they think about retirement.

When Lisa (not her real name)  went to see an advisor at her bank she was told she needed $2 million by retirement and that she’d better start saving now. There were no conversations about her options, about different scenarios, or about specific action steps. It’s no surprise that she says she walked away feeling overwhelmed, distressed and chastised.

The only action step she took was to retreat back into financial avoidance. Continue reading →

Posted in Retirement savings, Success Stories


Will you contribute to an RSP this year?

Posted on: February 4, 2014

faded bigger March Calendar

Many of us grew up with the tried and true advice from our parents that we should invest in RSPs, and like a lot of parental advice, it is often ignored. Less than one in three eligible Canadians take advantage of this investment according to StatsCan.

It’s not that people don’t think about the future. It’s often a case of being overwhelmed by information and unsure how to sort it out. Would they be better off with a Tax Free Savings Account (TFSA)? Should they focus on debt repayment instead of retirement savings? Should they borrow to invest?

Continue reading →

Posted in Retirement savings


How are we doing? – Client survey results and winner

Posted on: January 23, 2014

Thank you to all of our clients who took the time to provide us with feedback on their experience working with their Money Coach. We take your comments very seriously and do our best to implement your suggestions.

Elizabeth from Perth, Ont is the winner of a $100 gift card from our most recent survey respondent’s draw. Congratulations Elizabeth!

What our clients are saying about how they felt BEFORE working with their Money Coach
“Mostly hopeless and really did not see an end in sight. I felt out of control”. Tessa (Money Coach Renée Verret) Continue reading →

Posted in Money Coaching, Success Stories, Survey


Success Story: Joel and Anna stopped waiting for “someday”

Posted on: January 21, 2014

In The Key to Financial Resolutions that Succeed, we wrote about the importance of having a dream that serves as the motivation for your financial goals, but that’s just one side of the coin.

Joel and Anna were like many couples who sit down with a Money Coach for the first time. They had a dream – to buy a home – but they were convinced that their circumstances made it impossible. They were living in a small, high rent basement apartment and they had some debt, how could they possibly save enough money for a down payment? Homeownership seemed so out of reach, that they purchased $100.00 lottery tickets with hopes of a big win. To bolster their spirits they treated themselves to weekend getaways, for a taste of the life they hoped to lead when their circumstances changed. Continue reading →

Posted in Money Coaching, Relationship to money, Success Stories


The key to financial resolutions that succeed

Posted on: January 7, 2014

2 image courtesy of feelart-FreeDigitalImages.net

Have you ever looked at your credit card statement and been washed by a wave of guilt, because you broke your resolution to spend less? If you have, you’re certainly not alone.

Why do resolutions lose the power to motivate?

Often it’s because we don’t know why we’re making the resolution in the first place. We think we know – too much debt, looming retirement, insufficient savings for a rainy day – but those reasons are generic and vague and won’t likely inspire restraint against a fantastic deal on a great purse, or a big screen TV clearance sale.

Making plans and resolutions before you know what’s really important to you, is like buying building materials before you know what you’re going to build. If you want your resolutions to have a chance at success, the key is to make them for reasons specific to you. Continue reading →

Posted in Money Coaching, Relationship to money


Find A Coach