Author Archives: Justin

10 Financial Tips For Newlyweds

I recently had my wedding at the end of January and there has been no shortage of people offering me advice on how to have a successful marriage.  I didn’t realise this, but apparently every couple thinks that their relationship is the best in the world, and that many couples also have a compulsive need to explain how their relationship got that way as well.  Many times, my wife and I rolled our eyes, but we also heard some things that really made sense. As one might expect, the best advice came from the people who were married for over 40 years.  After sifting through a whole lot of chaff to get to the wheat (sorry, prairie idioms) here are my Top 10 financial tips to help getting things in order if you are recently married, or to revisit if your knot has been tied for a while now.

1 – Everybody Manages Their Money Differently – Some Solutions Won’t Work For You

This is my favorite one because no couple manages their money the same way, but EVERY couple feels that their way is best, therefore you should obviously do it their way too.  Everyone has different comfort levels and each couple has different needs and financial goals, so there is no way that the same method will work for every couple.10 Financial Tips For Newlyweds

My wife and I have a joint account with Tangerine as well as our own personal ones. One of our paycheques goes into the joint chequing account and it takes care of all of our expenses. Once the rent, utilities, and groceries get paid for, the remainder gets transferred into a joint savings account – also with Tangerine.

To be honest, we never figured out what we’re going to use that for yet but it’s probably our vacation fund.  We set this up before our wedding and our idea was to get a more established plan in place afterwards, but it hasn’t happened yet.  Eventually, this fund will start going towards our down-payment fund for a home if we decide to go that route.

This arrangement works for us because we still have our own accounts to buy the things we love to buy. She likes her shoes, I like my technology, and we don’t pester each other about our purchases since we use our own money.  We are both 28 so we both are used to being independent and this method fits nicely.

My Brother: People are crazy, for some reason everyone thinks that their way of managing money is the best. Figure out what works best for you.

2 – Talk Openly And Keep Up The Communications

Talking to your spouse in an open and honest way is an important building block to financial success in a relationship.  It’s a good way to understand each other and see what your spending habits are like.  This isn’t a good time to keep secret accounts…

Recently-Married Friends Make sure you talk to one another, you don’t want to end up like “that couple” who is always one fight away from a divorce.

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How To Keep All Of Your Passwords Organized

“Keeping Your Accounts Secure and Organized, One Password at a time”

You need an account with almost every website you go to these days, and it’s hard keeping track of all of your passwords. It’s especially hard if some of the sites require changing your password every so often.   Luckily your web browser can remember your passwords to the sites you regularly use, or you just stay logged in. But what if you need to access something while at work, or traveling? I needed something to organize my passwords with Kyle since we have many online accounts.  I felt a little anxiety because if something were ever to happen to me, Kyle wouldn’t have access to anything! Now that I have it all set up he would be able to keep on humming as if nothing happened.

Benefits Of Using A Password Manager

Lastpass1A password manager is a program that stores all of your sensitive account information and their passwords.  I noticed my brother using it while I was at his place and he couldn’t say enough good things about it. He is a security nut as well which also makes me appreciate the value he sees in this software. He once put a Wi-Fi password on my parent’s computer and they only have four people within TWO MILES of their place which is 200 km away from the nearest city.  So if he says this company is good, I believe him.

Doesn’t My Browser Store All Of My Passwords?

Yes, browsers do have the ability to save passwords. I use Google Chrome as a browser and I can save my passwords with them and it will sync to any other chrome browser if I’m logged in as a user.  I used in the past but it doesn’t have any sharing capability or any of the password generation features that Lastpass has. Continue Reading

Take Control of Your Tax Bracket – Weekend Ramblings

Take Control of Your Tax Bracket

I hope the Canada Revenue Agency doesn’t come after me for writing this post If too many people read this article then our government will never have a balanced budget lol. Since it’s that time of year again the topic I’d like to discuss today is income tax, and how rich people are able to dramatically reduce their taxable incomes because they understand that tax brackets are a moving target, and we all have the ability to manipulate our income tax rates as we see fit…

The Olympics of Investing

The Olympics have been at the top of many peoples mind as athletes from around the world congregate in Sochi to compete in events that they have been preparing their whole lives for. It is an exciting time that instils pride in ones country and an opportunity for the host country to showcase all of its accomplishments. It is also a period that requires a large amount of planning, as host countries need to be able to handle an influx of visitors who will for the most part all be concentrated in a relatively small geographic region. With this in mind, it would make some wonder if there is an investment opportunity related to countries that host Olympic events.

Having A Car Is Expensive

Back in the fall, I wrote a post called How much is your car costing you?, where I calculated that I was spending around $300/month for gas and insurance (11% of my net monthly income). And that didn’t even include maintenance like oil changes, repairs, or the actual cost of buying the car.

Even though I concluded that having a car was a clear “want” and not a “need,” I still depend on my car to lead the lifestyle I want for myself. Deciding to live in the suburbs, that’s the choice I made. And it’s the right choice for me now, but I’m not sure if it’s the right choice for me in the future… Continue Reading

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