Tag Archives: Goldengirlfinance.ca

What’s Under the Hood? 10 Insurance Terms You Need to Know

Flickr/Jerry Bunkers

Flickr/Jerry Bunkers

Have you ever taken your car into the shop and felt your eyes glaze over as the mechanic explains the problem has to do with the intake manifold, which is affecting the crankshaft…er…sorry…what was that?

Not to perpetuate a well-worn stereotype, but there are all kinds of topics that have complex terminology we often don’t fully understand. If you’re familiar with cars, maybe you get tongue-tied when the topic turns to investing, or perhaps computers. Or, if you’re like many people, you shut down when it comes to insurance.  According to the State of Insurance Report conducted by TD Insurance, 31 percent of respondents don’t ask questions about their insurance policy because they think it’s too complicated, while another 23 percent fail to do so because they’re embarrassed about their lack of knowledge.

It seems like the easy way out – until you file for a claim and find out you’re not covered.

Say what?!

You might need a new whatchamacallit for your car, but a nasty insurance surprise is something we can all live without. Check out 10 insurance terms you should know, and how to use those terms to read – and understand – your policy in my new article on GoldenGirlFinance.com.

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How to Flex Your Discipline Muscle

Flickr/LyndaSanchez

Flickr/LyndaSanchez

I won’t buy this, I can’t afford it…

I won’t buy it…

I just won’t buy it. I can’t… I won’t…

And then, of course, you do.

When it comes to curbing spending, saving more, and doing all those financial good deeds that we know we should do – and that maybe, deep down, we even really want to do – we’re dealing with some pretty powerful psychological forces. And while we often hear that better financial habits are a matter of discipline, we all know that putting mind over matter is easier said than done.

Feel like your willpower’s weak? We dug into science for some tips on how to flex that mental muscle and push your financial discipline to a whole new level. Check it out in my new post on GoldenGirlFinance.com.

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Surprise! The Fixed Income Investment You Shouldn’t Overlook

Flickr/SaZeOd

Flickr/SaZeOd

When it comes to investing, many people are most interested in stocks. Stocks are exciting.  They move fast and can generate huge returns in a very short time. There’s a little bit of danger involved – like the sports cars of the investing world. Of course, that means they often stall – and if you’re not paying attention, they can crash pretty spectacularly.

That’s where fixed-income investments come in. They’re stable, dependable, and they deliver returns in the form of fixed periodic payments. They’re like a slow-moving passenger train; they don’t exactly get your heart racing, but you can depend on them to get the job done. That’s why most advisors recommend that everyone set aside a portion of their portfolios for fixed income products, such as bonds, money market funds and Guaranteed Investment Certificates (aka GICs).

GICs? Bet you didn’t consider those, right? According to Tim Wilson, Vice President and Chief Financial Officer at Equitable Trust, they’re a vehicle that investors often overlook, even among fixed income options. But maybe they shouldn’t. Find out why they deserve a second look in my new article on GoldenGirlFinance.com.

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How Not to Mess Up a Cover Letter

Flickr/isabisa

Flickr/isabisa

If you’ve never been in a job that involved hiring other people, you’ll have to take our word for it: Reading resumes can be a real trip. People will say all kinds of things in an attempt to stand out and get hired, especially in their cover letters. Unfortunately, what many applicants choose to say is exactly what sends their resumes straight to the slush pile.  That’s because a cover letter is often the first thing a hiring manager sees, which means this one little page can make or break your chances at securing an interview.  In other words, getting the cover letter right is crucial. Get some tips on how not to mess it up in my new post on GoldenGirlFinance.com.

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Consider Eloping: That Big Fat Wedding Costs Way More Than You Think

Flickr/Frabuleuse

Flickr/Frabuleuse

A lot of people – well, a lot of women anyway – dream about the big day they walk down the aisle. The flowers, the shoes, the favors, the food, the dress (!) – these are all the things we tend to fantasize about. What never breaks through that dream bubble, however, is how much it will all cost. If it did, many of us would probably skip the wedding and elope.

According to Weddingbells magazine, the average cost of a wedding in Canada is $32,358. In purely objective terms, that is a lot of money for the vast majority of people. The real sticker shock, however, is actually a whole lot higher. Your $20,000 wedding? It may really end up costing you at least three times that much. The same goes for the dress, the food, all of it.

No, we’re not kidding. Read all about it in my new post on GoldenGirlFinance.com.

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If Your Bankbook Was a Business How Much Richer Would You Be?

Flickr/Dave Dugdale

Flickr/Dave Dugdale

If you’re an investor, you probably have a pretty good idea of what to look for in a company. You want strong income, good cash flow, a solid balance sheet, and as little debt as possible. Those are things that not only help to create a profit, but maintain one.

Here’s a funny fact, though: Many investors fail to apply the same kind of critical eye to their own bank balances. In fact, according to the CFP Board in the U.S., Certified Financial Planners have been filing for bankruptcy in increasing numbers over the past few years. Of course, that’s true of much of the population, but we kind of expect financial pros to know better, right?

In fact, if we applied the same standards we apply to the businesses we invest in to our own bankbooks, we would all be a lot richer for it.  Find out why in my new post on GoldenGirlFinance.com.

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5 Myths About Men, Women and Money

Flickr/Tax Credits

Flickr/Tax Credits

Ever since the dawn of time (or rather, John Gray), there has been one rather undisputed fact: Men and women are different.

Well, as it turns out, we’re not nearly as different as we like to believe (or were led to believe). In fact, recent research from Rochester University in New York found that among 122 different characteristics, men and women came up pretty equal. This means 1) that guys are just as likely to get lost while navigating new terrain; and 2) the only difference is they might not admit it.

And then there’s the issue of money management. If you comb through the research, the gender gap gets smaller and smaller on this variable, as well. Want to dispel a few myths about women, men and money? Read my new post on GoldenGirlFinance.com!

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