June 16, 2014

By Margaret H. Johnson

We find comfort in the belief that more money would solve all of our problems (or at least most of them). It gives us something to work for (more money), hope for (winning the lottery!), and dream about (what would I do with all of my money?). When it comes to having more money, the possibilities seem endless – you could finally travel, spend more time with your children, buy that fancy car that you deserve, or purchase that lakeside cottage you’ve always wanted. You could go on shopping sprees, jet set to exotic destinations, spoil your family and friends with lavish gifts. All of your debt would be paid off and you could finally quit your soul sucking job.

Contrary to popular belief, more money doesn’t guarantee more happiness. Obviously too little can make us miserable; however, research has shown that once you reach a certain earning point (between $50,000 to $75,000 are the figures that I have read here), you are not more happy than an individual with a salary in the six figures or more. It seems confusing, right? We are constantly inundated with advertisements and other media and insists that we would be happier with more – more of everything! So how is it possible that more money wouldn’t make us happier?

June 9, 2014

By Margaret H. Johsnon

Stephanie Williams and Cel Rince, a young couple living in Vancouver, have enjoyed recent internet fame due to the interest in their early retirement plan and their tips for living a frugal (but high quality) lifestyle.  What’s unique about this couple is that they live in one of the most expensive cities in Canada in an affluent area, and yet they still manage to make ends meet and more.

Recently Stephanie and Cel updated their blog, www.incomingassets.com, with a detailed three-month budget, which you can find below. Let’s see a rundown of their lifestyle to see how they make this happen!

June 2, 2014

By Margaret H. Johnson

Insurance is a hot topic once again. Hot for all of the wrong reasons. Many people have heard about a number of claims under travel insurance policies that have recently been denied by Canadian banks. I say many people because I couldn’t find the story quickly on the internet.  It didn’t seem to get a lot of coverage in the local newspapers either. It’s a good thing I watch the news on television.

One case involves the CIBC where a 69 year old senior bought travel insurance and paid an extra $100 premium to make sure her insurance would cover her high blood pressure – and after getting sick abroad and then filing her claim, the bank denied her claim.

May 26, 2014

By Margaret H. Johnson

The Canadian Centre for Policy Alternatives have recently published a new article on how much a living wage is for Vancouverites and other British Columbians. According to this report both parents need to be working and making at least $20.10 per hour for Metro Vancouver — or $36,582 annually for each parent working full-time. That’s $73.170 net income a year.

Statistics Canada has been publishing figures for what Canadians ‘spend’ their money on for many years and it just so happens that the 2012 amount for the average Canadian is $75,443.   Very similar or is it a good guess? I used to think that $75,443 was a bit high because so many of the individuals and families I see make so much less.

The bare bones monthly family budget as reported by the Canadian Centre for Policy Alternatives is as follows:

May 20, 2014

By Margaret H. Johnson

Many people seem to have the impression these days that debt is a necessary part of life, and is in fact okay. Doomsday speak of rising interest rates doesn’t have us too worried, and we believe that the big banks and government will step in to do whatever it takes to prevent a debt catastrophe. That may be a possibility, but putting aside the potential for interest rate spikes, there are other reasons to be concerned about our levels of debt.

Remember, if you are experiencing financial difficulties do not wait. Call Solutions Credit Counselling at 1(877)588-9491 or fill out our Debt Consolidation Questionnaire and get your Free Credit Counselling Advice today.

For more information visit Debt Canada - your Canadian credit education centre.

If you are a woman in debt, speak with Women and Money first. We specialize in helping women with their personal and business financeMoney management advice you can count on!


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