Hello, welcome to my blog! I recently graduated with an economics degree and was lucky enough to find a full-time job right out of school! I have learned a lot on my path from full-time student to adult and I started this blog to help others! Moving for work to a different province, away from family & friends, I learned how to create a budget and, through reading and chatting, began my path towards financial independence! This blog serves to help those like myself with this transition from student to adult. Please feel free to ask questions and I look forward to chatting with you all!
Popular posts from this blog
Investing for Beginners – TFSA Accounts As a Canadian, there are many tax-exempt ways to begin investing like opening a TFSA account. Before we delve into the benefits of the TFSA, for those who live in the US, the TFSA is very similar to the Roth IRA as they are both Tax-Free accounts that allow you to accrue wealth without having to pay the government a cut of your profits through tax. You can also open a TFSA at any financial institution and you are now able to open an account online without ever needing to set foot in a bank. The TFSA (Tax-Free Savings Account) was created by the Canadian government in 2009 as a tax-exempt registered account that offered Canadians a special tax benefit on any money that was held in the account. Within your TFSA, you are allowed to hold anything – cash, GICs, mutual funds, ETFs, stocks and bonds – and any income that you earn from your investments are tax-free even if you withdraw the money. What this means is that the earnings (through capita
Investing for Beginners – Emotions and the Stock Market One of the biggest tips when it comes to investing in the stock market is to avoid being emotional as emotions can negatively affect your returns. Although emotions are great in many situations that you might find yourself in every day, when it comes to the stock market, there is nothing more dangerous than being emotional. Imagine this, you have just invested your first $2,000 in a blue-chip stock – a stable stock that has a large market capitalization with an excellent reputation. You know that this decision is a smart one as the stock might not provide a high return but will provide a return that is in line with the stock market and is considered to be a safe investment option. It is a safer investment option as the company has been around for a long time and has built up an incredible reputation and it also might provide a strong quarterly dividend. Now your friend, who is less interested in personal finance and more into
Investing for Beginners – RRSP Accounts As a Canadian of legal age, there is another tax-exempt account that you can open other than the TFSA account. As a reminder before we continue, as mentioned with the TFSA, with the current pandemic, you are actually able to open up your RRSP account online with any financial institution without ever needing to set foot in the bank. I mention this because there is no reason to not open a tax-exempt account as it is easy and can be done from the comfort of your home and is definitely a fantastic way to begin preparing for the future. Like the TFSA account, a RRSP (Registered Retirement Savings Plan) is an initiative that was started by the Canadian government to help promote saving and investing for retirement to Canadians right when they begin working. By incentivizing Canadians to save early on, the government is able to reduce the burden on their social assistance programs for retiring Canadians now and in the future as this has pushed th