IT’S Chap Goh Mei, the 15th day of the Lunar New Year, marking the end of the current celebratory period for the Chinese. According to custom, this is also the day you should open your angpow and count the moolah you’ve received. It is believed that you only open your angpow on the last day of Chinese New Year so that your good luck accumulates through the festive celebration. Congratulations if you have held on to all those urges to open your angpow; you have great determination! But if you have taken a peek, it’s okay! We’re sure your good luck won’t escape with just a peek. After all, you earned it (okay, it was given to you!) fair and square (with your most innocent and sweetest smiles). While you carefully peel each angpow and calculate the money you’ve harvested this year, you would probably already have a wish list of what to spend the money on but, whoa, hold your horses because mom and dad didn’t teach you about saving when you were … [Read more...] about Ang Pow Money – Save it now to spend it later!
Banks that offer compound interest accounts
caption Thanks for the great money advice! source Rawpixel.com/Shutterstock Money advice can come from friends, financial experts, and even your parents – who should you trust? Because money advice is subjective, what works best for one person may not work best for another, but it’s helpful to have some options. Here, financial experts share the 11 best money advice they’ve ever received. Over the years, you may have gottenmoney advicefrom various people, from your parents to acertified financial planner(CFP). However, until you implement that advice, it’s hard to know what will work for you. There’s a lot of different financial advice out there, and too much can be overwhelming and demotivating,Andrea Woroch, a consumer expert, told Business Insider in an email. “In order to be successful in improving your financial situation, follow and apply tips that fit your current lifestyle.” For instance, she said that it … [Read more...] about 11 financial experts share the best money advice they’ve ever received
caption The author, Liz Gendreau, and two of her sons at her MBA graduation. source Courtesy of Liz Gendreau Liz Gendreau, the Chief Mom Officer, is a 38-year-old MBA who works as an IT program manager at a large company making a six-figure salary. Her husband, Todd, stays at home with their three boys, ages 14, 10, and 3. She’s been the primary breadwinner since shortly after they were married, over 16 years ago. Personal finance has been one of her hobbies since she was a teenager. She says everyone should know how to track their net worth, invest their savings, and align their financial goals with their dreams. When I was 16, I picked up a book from the library called “The Wealthy Barber” by David Chilton. That book changed the course of my financial life. Like most teenagers, I thought only the famous or uber-successful were wealthy. Ordinary people couldn’t become rich, right?!? The title of the book that drew me in, like … [Read more...] about I have a 6-figure job and my husband stays home with the kids — here are the 10 best pieces of advice I can give you about money
source Gleb Leonov/Strelka Institute/Flickr Taking control of your finances isn’t hard, as long as you know the basics. Author and financial expert Beth Kobliner offers eight “need-to-know” personal finance rules in the 2017 edition of her book “Get a Financial Life: Personal Finance In Your Twenties and Thirties.” Kobliner’s cheat sheet includes tips on saving money, paying off debt, investing in the stock market, and buying insurance. Personal finance can be daunting, but familiarizing yourself with basic money concepts – like how to build wealth, stay out of debt, and earn returns on your investments – will, quite literally, pay off. To help you get started, we turned to the latest edition of Beth Kobliner’s book “Get a Financial Life: Personal Finance In Your Twenties and Thirties,” released in April 2017. At the … [Read more...] about These 8 simple rules are the Sparknotes version of everything you need to know about personal finance
By Tess Kalinowski Real Estate Reporter Wed., April 4, 2018 A group of Oakville homebuyers, struggling to finance the pre-construction houses they bought in February 2017 at the height of last year’s real estate frenzy, are blaming “reckless” provincial housing policy and new mortgage rules for putting them on the brink of financial ruin. The desperate buyers say they have been trapped in a unique period in the Toronto area housing market — one engineered by provincial policy designed to cool the soaring costs of housing. The problem has been compounded by new mortgage rules that they believe have the potential to drive desperate buyers deeper in debt by sending them to alternative lenders that offer higher interest loans. Declining real estate sales in the Toronto region has meant the buyers have not been able to sell their existing homes for the amounts they anticipated when they contracted to buy new houses in Mattamy’s Preserve … [Read more...] about They bought their prebuilt homes at the market’s peak. Now they face financial ruin