What you need to know about money for 2018

Part of the job description for a personal finance columnist is to be an amateur economist. For that reason, I’m a big fan of the annual Maclean’s list of the most important economic charts for the year to come.

The leads off my collection of financial intelligence that will help you better manage your money in the months ahead. Charts that caught my eye project a shocking rise in health care costs as our population ages, document the inexorable long-term increase in household debt and show the sad state of housing affordability. read more

Canada has a solid foundation for financial happiness. So why is the disposition so dim?

There is plenty to celebrate in Canada from a fiscal standpoint as we head into the final weeks of 2017.

Unemployment is down, wages are up, stocks are chugging along and homes have held the value they have built up in the last ten years. We’ve got a solid foundation for financial happiness, but people are not responding. It isn’t just Canada — individuals in a lot of other well-off countries do not feel satisfied with where they’re financially, either. read more

Do Not buy your next car, SUV or truck without reading this

For the net at its best, consider researching your next vehicle purchase. There is great information available free of charge on nearly every aspect of choosing the ideal vehicle.

Let us begin with fuel consumption. Natural Resources Canada has a manual for and for vehicles from . For safety ratings, have a look at the Insurance Institute for Highway Safety’s going back to 2004. There is also a list of annually. read more

Is your home or income property insured when it’s vacant?

A recent Alberta court ruling is a jarring reminder to homeowners and landlords to ensure they are onside with the requirements of their property insurance policies, particularly those regarding vacancy.

, which was released by the Alberta Court of Queen’s Bench last month, concerned a man who in 2011 bought an income property in the town of Westlock, just north of Edmonton. Immediately after his purchase, he bought property insurance and rented out the home to a married couple. read more

Equifax says number of Canadians affected by hack Moves 19,000

Equifax Canada has revised the amount of Canadians caught up in a gigantic data breach earlier this season, saying an investigation has discovered that over 19,000 were affected.

The business previously said about 8,000 Canadian clients had their personal information compromised in the cyber attack, but could not say how many extra credit cards were impacted throughout the nation. read more

‘I Am a conservative investor, but I Am open to Property’

An 81-year-old self-described conservative investor says his concern is protecting his chief. His preference would be to invest in guaranteed investment certificates, but prices are low. Because of this, he is open to property.

I believe this could be a mistake, and so does Bev Moir, senior wealth advisor at ScotiaMcleod at Toronto. Ms. Moir recently responded to by the 81-year-old investor at a forum on a site for advisers. “I would not recommend property … because it is illiquid, and prices may be in the high end of this cycle,” Ms.Moir wrote. Well said. read more

How e-transfers are ousting Newspaper cheques

The surging popularity of e-transfers could soon cancel the newspaper cheque’s standing as our favorite way to send cash.

The cheque as we know it has existed for 300 years, while the Interac e-transfer dates back 15 years. But recent trends suggest e-transfers could overtake cheques in popularity in a couple of years. A pair of new features to create e-transfers more convenient could accelerate the procedure. read more