In 2012, 122,999 Canadians filed for bankruptcy. If you’ve never filed for bankruptcy, you might assume that these particular Canadians are not at all like you. You’d be wrong. A recent survey of more than 7,000 bankruptcy filings by bankruptcy trustees Hoyes, Michalos & Associates Inc. uncovered some key statistics about those who file for bankruptcy. The reality is that many Canadians have many of the same habits. If something unexpected were to occur to shake their financial stability, they too could let things spiral out of control.
Want to see how you compare? Check out the figures that show where many bankrupt Canadians went wrong in my new article on GoldenGirlFinance.com.
We all know we should be saving money, but sometimes it seems like the retail world is working against us.
All the beautiful goods out there are designed to pull on our very heartstrings (pursestrings!) and make us feel not just that we want them, but that somehow, we can’t live without them. The reality, however, is that we often end up paying way too much for things that really only satisfy our desire for acquisition for a very short time, if at all. Check out some of the things that many of us pay way too much for - and the one thing we expect to get for way too little. Read more in my new article on GoldenGirlFinance.com.
Home renovations rarely go as planned. The job always takes longer, costs more and makes you waaay crazier than your HGTV-fueled dreams can ever account for. Maybe that explains why, according to a recent TD poll, many homeowners forget one very important thing. No, we’re not talking about the latest fixtures or low VOC paint. What most of us are actually forgetting is how renovations will affect our home insurance policy.
Research from TD Insurance found that only 6 percent of homeowners checked their policies before pulling out their tool kits. Unfortunately, this means you may be putting yourself at risk if you have to file an insurance claim. So, in honor of renovation season, let’s take a look at some of the insurance issues homeowners should be aware of – and what can go wrong if you get too focused on design and forget about the bottom line. Read more in my new post on GoldenGirlFinance.com.
Flickr/The Cosmopolitan of Las Vegas
If you could pick just one superhero skill, what would it be? Being able to leap tall buildings in a single bound would be a great way to get to work. And wouldn’t you just love to be invisible sometimes? Oh, the possibilities…
If you’re into investing, however, there’s only one superpower that will do: the ability to divine the future of companies, stocks and entire markets. Maybe that’s why, short of a crystal ball, people have been trying every trick in the book to do just that. From peering at ladies’ hemlines to looking for a sign on the cover of Sports Illustrated, check out some of the strangest stock market predictors out there (and find out if they work) in my new article on GoldenGirlFinance.com.
If you were to grow up in New York City or London, England – or even Vancouver – owning a home might not have been one of your fantasies of grown-up life. For most Canadians, however, the idea that we’ll grow up, get a job and buy a house is almost a given. Indeed, in most parts of the country, there’s space galore for suburbs and two-car garages and tidy backyards. And it’s places like these where many of us were raised. Unfortunately, higher prices, tighter lending conditions and more debt are making it increasingly difficult to make that dream a reality.
According to a recent poll by TD Canada Trust, today’s first-time homebuyers say they’re up against challenges their parents never had to face – and they’re right. The real estate market is a lot less affordable than it was 30 years ago or even 10 years ago. According to a report released by TD in April, home prices have risen by about 7 percent per year over the last decade, considerably faster than both wages and inflation. Top that with five-digit student debt loads and tighter lending standards, and it’s no wonder that young people report feeling that prices are too high (53 percent), their wages too low (48 percent), and a solid down payment too hard to scrape together (57 percent).
Fortunately, aspiring homeowners seeking the property-owning dream don’t have to give up. I asked Farhaneh Haque, director of mortgage advice at TD Canada Trust, for some tips on the hurdles new homeowners are facing – and how they can leap right over them. Check it out in my new article on GoldenGirlFinance.com.
Warren Buffett’s been called all kinds of things: A sage, an oracle, a wizard, the greatest investor who ever lived. In terms of his stock-picking abilities, those terms are hard to argue with. In 2013, he had a net worth of around $50 billion, most of which he earned through many years of very smart investing. But Buffett isn’t just known for his wealth and stock wizardry. In fact, this 82-year-old might be better known for the witty quips and quotes he still delivers with remarkable regularity.
We wanted some insight into what Mr. Buffett is like – and perhaps learn a few of his secrets – so we chatted with Liz Claman, an Emmy Award-winning journalist and anchor at FOX Business Network. Since joining the network in 2007, Claman has spoken with Buffett 27 times, and will be sitting down with him again in May, when she hosts a “Weekend With Warren” live from the Berkshire Hathaway Headquarters in Omaha, Nebraska.
These are the top questions we’d like to ask of the Oracle….but we don’t exactly travel in the same circles. So we brought our questions to Claman. Get some insight into what she’s learned about Buffett so far in my new post on GoldenGirlFinance.com.
Flickr/Stuck in Customs
If you’re a fan of futuristic books and movies, you might be a little disappointed with 2013. There are no flying cars or vacations to the moon. And, sadly, there are still no robot maids to cook us dinner and clean up our messes. Yet despite all the technologies we still hope to have someday, innovation is without a doubt happening every day (every minute!), especially where money’s involved.
Here are a few futuristic financial phenomena that you may not be aware of. But it won’t be long before they hit your radar, because these technologies have already arrived. Check them out in my new article on GoldenGirlFinance.com.