How Much Should Your Strata Fees Be?
If you’re in the process of shopping for a home, you may have come across something called strata fees. Strata fees are most commonly applied in housing communities, such as a condo. As you probably noticed, strata fees are not cheap. They are yet another cost you need to consider… Read More
Current Balance vs. Statement Balance: Everything You Need to Know
If you’re an avid credit card user, you may have noticed that your statement balance often differs from your current balance. This can cause some confusion, especially when it comes time to pay off your credit card’s balance. Part of managing your credit card involves understanding the difference between a… Read More
Bill-134, Higher Minimum Payments and Increased Emphasis on Debt-to-Income Ratios
As a consumer, you deserve the right to know exactly what you’re agreeing to when you sign a contract with a lender or merchant. After all, it’s your hard-earned money that we’re talking about, and when you make a decision to make a large purchase or take out a loan,… Read More
What is a Routing Number?
In Canada, your routing number is a combination of the 5-digit branch number and the 3-digit financial institution number that can be found on the bottom of your personal cheques. In the U.S. a routing number is a nine-digit number. A routing number identifies your bank or financial institution in a… Read More
What is a Stop Payment and How Do I Make One?
When it comes to money, it’s easy to make a mistake, especially when you’re dealing with multiple payments to multiple vendors at any given time. Fortunately, a stop payment can do exactly what it sounds like – stop the payment! Below we will explore what a stop payment is, how… Read More
How Much of My Income Should I Save?
Saving is an important aspect of personal finance. By saving, you can achieve your long term financial goals and obtain the more expensive things in life that you have always wanted. Since saving is so crucial, the question now becomes, “how much of my income should I save?” The answer… Read More
A Beginner’s Guide to Investing Money
One of the big topics within the world of personal finance is investing. Investing involves spending money now to make more money in the future. What you spend your money on today will impact your financial future so it’s important to understand the consequences of your expenditures. Many Canadians invest… Read More
Sprout – Simplify Your Finances
We are extremely excited to announce the launch of our App (currently in Beta) that will simplify & demystify money for Canadians. This is a huge milestone for [Sprout Financial Inc] us and we’re excited to get our user’s feedback so we can continue to Sprout (pun intended!). How Does… Read More
Everything You Need to Know About a Financial Plan
Claudia DoRego, Planswell As you begin to plan out what you would like your financial future to look like, based on both your short and long-term goals, you’ll realize that there is a variety of money managing strategies that you can use to help. A term that… Read More