Wondering if the new mortgage rules are curbing home prices?

I came across this article in the Globe and Mail and thought it was worth sharing.  It sheds some light on the impact of higher rates and stricter mortgage rules on home prices.

Worth a read.

 

How to prepare your finances for maternity leave

By Helen Burnett-Nichols

Expecting your first baby? By all means get the nursery ready — but make sure you put your financial house in order, too.

Preparing for a baby is a time full of celebration, showers and shopping, but the arrival of a little one brings not only added expense for your family but also a noticeable drop in income for many new families. Read more

Credit 101 for Your Undergraduate

By Melissa Cassar, VISA Canada

If you’ve got teenagers heading off to University or College in the Fall, I hope you’ve done a good job educating them about the importance of personal financial responsibility and how to build a strong credit history. If not, better do it now.

First year students and young adults entering the workforce encounter many unfamiliar expenses – and temptations – so it’s important to help them avoid early financial missteps that could damage their credit for years to come.

Probably the most fundamental tool for helping students manage their finances is a chequing account with a debit card. A few tips: Read more

Microsoft Corp. is launching a new family caregiver benefit for all employees.

To date, the benefit has rolled out in 22 countries, including in the United States last week. The company will extend the benefit to the remaining countries where it operates, including Canada, over the coming months.

The family caregiver leave allows an employee to take up to four week of fully paid leave to care for an immediate family member with a serious health condition, wrote Kathleen Hogan, executive vice-president of human resources at Microsoft, on her LinkedIn page. Read more

What Non-Retirees Mean for the Workforce

The decision of 72-year-old railway executive Hunter Harrison to pursue a challenging new gig instead of retirement is emblematic of the changing shape of the workforce

For all Hunter Harrison’s unquestionable talents, he is really bad at one thing: not working. The celebrated railway executive officially retired from Canadian National Railway Company (CN) in 2009, after a long career running railways. A little more than two years later, at the encouragement of activist investor Bill Ackman, Harrison came out of retirement to become president and CEO of Canadian Pacific Railway (CP). Read more

Thinking of Cancelling Your Life Insurance?

Have you found yourself wondering if you really need that life insurance policy you pay for every month?  You are not alone.

As time goes on we often forget the reasons behind purchasing the amount and type of coverage we did. For this reason it is advisable to have regular reviews to make sure you are adequately protected.

Perhaps you are having trouble making ends meet and are looking to trim expenses.  Maybe you simply don’t think you need it because the kids are getting older and your obligations to them have diminished.  Some may feel that they have enough assets accumulated that insurance is no longer necessary and even a waste of money.  Before you make the decision to cancel your life insurance policy, consider these compelling reasons to keep it. Read more

Start saving early

by Caroline Hanna

You’re never too young to make smart financial decisions. Whether you entered your 20s with a solid savings portfolio funded by your parents, saved up some of your own money, or spent it all on education, here are four tips on how to get ahead financially.

01 Start now

A lot of 20-somethings feel they’ve missed the savings boat. You haven’t. You may have missed out on high interest rates, but the principles of savings apply, even when rates are low.

Read more

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Boomer + Sandwich Generation + Club Sandwich + Boomerang = Financial Instability

The Sandwich Generation was a term coined by Dorothy Miller in 1981 to describe adult children who were “sandwiched” between their aging parents and their own maturing children.  There is even a term for those of us who are in our 50’s or 60’s with elderly parents, adult children and grandchildren – the Club Sandwich.   More recently, the Boomerang Generation (the estimated 29% of adults ranging in ages 25 to 34, who live with their parents), are adding to the financial pressures as Boomers head into retirement. It is estimated that by 2026, 1 in 5 Canadians will be older than 65. This means fewer adults to both fund and provide for elder care.  Today, it is likely that the average married couple will have more living parents than they do children.

What are the challenges? Read more

Tying the Knot

Marriage is the coming together of two separate lives, but it’s also the coming together of two separate financial histories and situations.

And while your financial past will continue to be a part of your life, you’ll also be contending with a lifetime of new financial experiences and decisions with another person. One key to success is to be ready to handle everything that comes up. And having the financial resources to deal with the unexpected will be as important as developing the communication skills needed to talk about financial matters. Read more

Millennials & Money: Talking about Financial Literacy

By Carla Hindman, Director of Financial Education, Visa Canada

Millennials, also known as Generation Y, refers to people born between the years of 1980 and the early 2000s. Known as the “me, me, me” generation, millennials are the first group to grow up in the current digital era with instant access to money management tools at their fingertips. So why do they have a reputation for being financially illiterate? And what’s the best way to reach them? Does it have to be done in 140 characters or less? The answer is: #Yes. Read more