Preparing for Life Events

Planning for a Better Financial Future

University and College

The best way to save money on your post secondary education is to start early with financial planning. Despite the soaring university and college costs, there are ways to make higher education affordable. Below are a few articles to help you start planning for university and student debt:

• University & Credit
• Repaying Your Student Loans

Home

Owning a home brings its share of rewards and debt problems. It’s important to plan for the responsibility of homeownership so that financial obligations don’t get out of control and lead to foreclosure. We’ve compiled a series of articles to help you through the homeownership process, from buying a home to avoiding foreclosure:

• Buying a Home
• Home Equity Loans and Lines of Credit
• Avoiding Foreclosure

Marriage

Many married couples start their lives together strapped with debt . Some bring debt problems into the marriage, while others get into credit card debt when financing their weddings and honeymoons. Eventually, if these money issues aren’t resolved, it may lead to divorce and a new series of debt problems. Here are some articles to help you understand how merging your lives can affect your personal finances:

• When Love, Marriage & Finances Come Together
• Planning for a Wedding
• Divorce & Your Credit

While most Canadians think they are on the right financial track to a long and comfortable retirement, many will learn at retirement that they’re not as financially stable as they would like to be. Taking some time now to plan for your retirement can help you get closer to what you really want. Read more

When Problems Derail Your Financial Planning

Borrowing Money

When debt problems arise, your first instinct might be to go to your friends and family for help. However, there are some advantages and disadvantages of borrowing money from someone you know. It’s important to understand the consequences of leaning on your friends and family for financial support. Read more

Bankruptcy

Filing for bankruptcy can have serious and long-term effects on your personal finances. Before taking this drastic step to deal with your debt problems, make sure you know what you’re getting into before you sign on the dotted line. Consider speaking with a credit counselling agency before moving forward. There may be other less drastic alternatives available to help you. Read more

Debt Settlement

There are advertisements everywhere, promising to get you out of debt for less than your owe. While they may sound good at first, it’s important to understand the advantages and disadvantages of taking this debt relief option. Find out the differences between debt settlement and debt management program. Read more

Identity Theft

Unfortunately, identity theft is a growing problem in Canada. Most credit card companies have action plans when you’re a victim of identity theft, but you need to do your part as well to make sure this life event has less impact on your personal finances. Read more

Surviving a Layoff

Losing a job is one of life’s most stressful events. Many people underestimate the time it will take to recover financially from a job loss. Here is some financial planning you need to do when trying to survive a layoff. Read more

Other Considerations that Effect Your Personal Finances

The military has a wide range of departments and resources that can provide personal and financial assistance to its personnel and their families. Click on any of the article series links below to get started:

• General Information
• Guidelines & Considerations
• Insurance and Auto
• Your Career