Financial Wit

10/10/2017

http://financialwit.ca/961-2/

Let’s Build Your Financial Freedom Together! For the past 6 years, we’ve helped hundreds of people to get on firm financial ground. We know we can help you get to where you need to be. Click below to book your …

10/10/2017

http://financialwit.ca/test-banner/

You May Also Like... No related posts.

06/28/2016

http://financialwit.ca/pay-yourself-first/

06/16/2016

http://financialwit.ca/manage-financial-implications-critical-illnesses/

06/16/2016

http://financialwit.ca/common-financial-knowledge-common-account-balance/

06/11/2016

http://financialwit.ca/credit-card-debt-trap/

06/02/2016

http://financialwit.ca/unexpected-financial-liability-protected/

05/15/2016

What Banks Don't Tell You about "Savings" Accounts You may be familiar with GICs and/or “savings” accounts, do you have one of these? The banks would go to extreme length to get your money into “savings” yet what they do not tell you is how your money is actually losing ground…

Your bank may even suggest a slightly higher interest rate on your investment if you deposited and/or kept a minimum balance in your account.

What would be the return on your money in these accounts?

You obviously wish to see your money growing, so that in future you can put it into good use, a purchase of some kind, travelling or best of them all, having your retirement plan.

The cost of living does change regularly, and as inflation measures that change, we can realize the depreciating value of our yesteryear’s investment, compared with today’s prices. What is the inflation rate? What interest rate do you get in your GICs or “savings” account? Do you see how money put into these, very common bank vehicles, would over time erode the purchasing power of your money?

In the event your annual return is less than inflation, which is most likely the case with GICs and “savings” accounts, you would actually have LESS money year by year, as today’s amount cannot buy the same next year. You may wish to see how you being cautious actually works against your financial bottom line.

There are options available to you that are more likely to over time provide for a higher return. There are also products such as segregated funds, which allow you to be cautious and at the same time enjoy the guarantees it has on your investment, as well as various investment avenues. Once you approach a professional financial advisor you would be able to select the one relevant to you.

Your money in a bank vehicle such as GICs or “savings” can only help the bank have more money to lend as loans at a much higher rate to the one given to you (and well over inflation!). Taking charge of your finances and exploring your options would allow you to create a higher-than-inflation yield and still keep cautious with guaranteed products. http://financialwit.ca/banks-dont-tell-savings-accounts/

05/15/2016

Why Nobody Teaches You Financial Education? How Come Formal Education Won't Even Touch on How To Deal With Money...
We all deal with money and money-related issues every day. Think about it, the overwhelming majority of our decisions are related directly or indirectly to money, affordability, value and the like. Money decisions correspond to our life styles, standards of living and many other off-shots of money.

Have you ever noticed how years in education, school, college or university, would not even touch on money matters. We get vague concepts of investments, insurance, debt yet we hardly ever understand them. Seemingly, education does not include the one element that is an integral part of our lives, and guess what, even part of our death (taxes, estate etc.)!

Way underrated, financial education (FQ) as a concept does not even feature in common media, like say IQ does…We are blindly focused on the acquisition of facts and information, skills and degrees, licenses and titles yet have no real knowledge of how money works (FQ)!

The traditional path towards a degree or a skilled vocation makes most people dependent on a paycheque. In most cases the pursuit of these degrees, licenses and titles also entail long term debts afterwards.

Can you relate to long working hours just to pay the bills, mortgage etc. Can you relate to having more expenses when salary is up? Can you relate to how lack of planning of investments, taxation and insurance may come to haunt you sometime in life?

Systems do very well in self-preservation. Employment has turned to be modern-day pseudo-slavery and it does not bring you wealth, let alone financial freedom, would you agree? It is great to keep people in pursuit of degrees and vocations, while their finances are being shackled to debts, mortgage payments, consumerism and the like.

Your finances could only be managed by you, and you are fully responsible for understanding them, as well as acting to acquire financial knowledge. When you get to realize how money works, you would rid yourself of debt, build assets and investments, secure retirement, have insurance protection and see the back of running after life style payments and bills.

Getting a university education requires a university professor and likewise, acquiring FQ (financial education) requires a “money doctor”. This is you real job to get a qualified financial professional to create with you you the best course of action.

To your success! http://financialwit.ca/nobody-teaches-financial-education/

05/15/2016

Would You Ask A Carpenter About Money Management? How many times have you asked your hair stylist about changing your electric board? Who did you go to when you had a pain in your body? You would likely know who to approach in case of any query requiring a professional response.

We are involved with the daily money management chores: paying, earning, spending or investing. Whether we realize it or not, money drives us to work (or not work…), to establish and build a business, get a certain job etc.

As we are so involved with money we tend to discuss it with others, even if not directly.

We talk about affording things (or not), job prospects, ability to buy a car or property and the likes.

Such is our emotional attachment to money and money issues that we seem to talk to family and friends about investments, and we seem to always know what money decisions to take.

Has it ever occurred to you? Have you ever thought what else can be done to improve your finances, being such an important part of your life.

As we “work for money” or “work to pay the bills”, are we actually looking into what products and options are out there to help us better manage our money?

Have you asked a qualified professional to have a proper financial review? If not, how come? Do you wish to possibly enhance your position?

You would likely find that money and romance issues would be discussed freely by pretty much everyone with anyone. When it comes to your money, you would truly want to get the most professional and adequate advise. You would be open to learning of possibilities that would improve and refine your money situation.

You could help yourself by not basing your knowledge on rumors or others’ opinions, have you looked into the finances of the people who give you the advise? If you wanted to be a great tennis player would you talk to a couch potato? It is your money, make sure to get the best advise for you, whether debt, investment, planning, insurance, only a professional can help you. Exactly like your doctor when complain of a neck pain, only the doctor can diagnose and prescribe the right medication for you! http://financialwit.ca/would-you-ask-about-money-management/