Do you ever feel like you and your partner are just on different tracks when it comes to money? Read below in our new ‘Ask Your Money Coach’ column and find out how to manage different money styles.
Ask Your Money Coach!
“My husband and I have very different ways of handling money. He loves to spend and I’m worried that we won’t have enough saved for the future. What should I do?”
Our On Track Money Management System is designed to help you do two things: a) stay on track with monthly and annual expenses; and b) save for your goals.
The system goes back to the old days of putting money into envelopes to make sure
everything—from groceries to the gas bill—got paid. When payday rolled around, you’d put cash for groceries in one envelope, money for the bills in another, savings towards new clothes for school in yet another and so on.
To implement our system we suggest opening several bank accounts. Here’s what we recommend: Continue reading
Continuing on with our theme of tackling debt this month, tune in to this podcast by two of our favourite personal financial educators – Jim Yih of retirehappy.ca, and Rob Carrick of the Globe and Mail. Jim has written a great article about how debt has become big business for the lenders, and why debt reduction needs to be a priority.
Next time you go to the bank, think about what is really in YOUR best interest, not what just sounds easy and helps the bank make more money. Jim sums it up effectively, “Less debt is better than more but the best debt of all is no debt!”
Join Leslie Gardner, Money Coach and Educator along with Sandra Soroka, Senior Manager with Grant Thornton while they explore the differences between Bankruptcy and Consumer Proposals.
Listen to our Let’s Talk Money Podcast to learn the facts.
Sandra Soroka can be reached by email at Sandra.Soroka@ca.gt.com
The less debt you have the better. That being said, you will hear people talking about good debt versus bad debt.
Put simply:
Good debt
Used to purchase an asset, like a house or investments.On March 18, 2013 a new Family Law Act came into effect in BC. The new law replaces the Family Relations Act and there are significant changes that may affect you and your family.
Listen to our discussion with Sheila Keet, a Family Law lawyer who specializes in collaborative divorce.
If you are married, separating or living common law (or contemplating marriage or living together), you won’t want to miss this conversation to inform yourself of your rights.
Listen to our discussion on the New Family Law Act
Last month, I invited my clients, Facebook and Twitter followers, friends, family, and other contacts to participate in Money Coaches Canada’s Money Monday event “Tips to Minimize Your Tax Bill”.
The response was very positive. Most people HATE paying tax and would like nothing better than to reduce the money they send to Ottawa every year! However, a few responses I heard are concerning.
One, “I use tax software. It figures everything out so I don’t have to think about it.”
Another, “My accountant does my taxes. I just give her all my receipts and she takes care of it.”
<Sigh> Unfortunately, the hardest people to help are those who sincerely believe they are doing the right thing, but sadly aren’t. So what’s wrong with this mindset? The problem lies with folks focusing exclusively on Tax Preparation, and NOT on Tax Planning. Continue reading
This post was updated in March 2025.
The Canada Revenue Agency (CRA) has offered a timely list of tax tips, including ways to save money at tax time. Here’s a summary plus a few of our own.
For Individuals:
2. Tax-free savings account (TFSA)Listen to Preet Banerjee’s podcast, What Is a Money Coach? featuring Sheila Walkington on WhereDoesAllMyMoneyGo.com
Toronto ComiCon ran this past weekend in the Big Smoke. 
As always, it drew thousands of fans of fantasy literature, comics, television and movies, who descended on the event with unrivalled excitement and passion. Many attendees spent considerable time and money outfitting themselves with intricate costumes depicting their favourite fictional characters.
Why do people do this? Why do adults – people from all walks of life and socioeconomic backgrounds, male and female – dress up as fictional characters in outrageous costumes and congregate at events around the country like ComiCon?
There are many reasons, but I believe one that holds true in many cases is this: we each want to associate ourselves with a great idea, an inspiring vision, a noble story, and we want to be a hero in someone’s life and make a real difference.
A revolutionary step-by-step money management system where you will learn how to:
Combining practical financial tools, tips and resources with insights into the emotional and psychological challenges of today's money culture, this thought-provoking book will help you bring more joy and ease into your financial life.
