Beau Humphreys, Personal Finance Coach

57 Flips | 24 Magazines | 28 Likes | 40 Following | 32 Followers | @BeauHumphreys | Financial advice you can understand.  #PersonalFinance blogger and Personal Finance Coach. Helping you help yourself! http://investwisely.ca

4 questions to ask yourself before investing

A new year brings with it new opportunities to evaluate your life and work to improve it.For some, that means buying a gym membership or subscribing …

Investing

Many Canadians in the dark on minimum debt payments

Canadians who regularly make more than the minimum payments on their debt are less likely to fall into delinquency – but more than a third of consumers aren't certain about the benefits of paying a greater amount, according to research released Wednesday by TransUnion.<p>The global survey included …

Personal Finance

Why millennials are more willing to switch banks than their parents

Millennials may have a reputation for being lazy, but when it comes to banking, that certainly isn’t the case.<p>Research has shown that millennials …

Financial Literacy Series: Debit, Credit, or Cash?

<i>November is</i> <i>Financial Literacy Month</i> <i>so I decided to write a series of posts explaining some key things everyone should know about their personal</i> …

My Journey With Wealthsimple

Startups will have issues. This is an inevitable truth. I believe the difference between a startup that makes it and one that doesn’t can be summed …

Deferred Sales Charges Kicked Me Where It Hurts

HOW I FELL INTO THE DEFERRED SALES CHARGE TRAP<p>5 years ago, when I left my job at the time, I transferred my pension amount into a Locked-In …

The Mortgage: A Tragic Story of Confusion

<i>Scene: Beau just signed papers to buy a house and now he’s visiting his bank manager, Steve, to arrange a mortgage for this house. Beau is</i> …

Personal Finance

Want to save money fast? Live with your parents and have no expenses...

And work 40 hours a week at night while going to school during the day…<p>And get only 4 hours of sleep a night then get up and drive to school…<p>The …

Why are you saving your money?

What is the point of saving money?<p>Or in other words, why don’t you just spend all the money you make, as you make it? You’re gonna make more, right? …

Personal Finance

Maybe you spend too much on candles...

I DON’T HAVE ANYTHING LEFT AT THE END OF THE MONTH<p>People love to tell me they don’t have any money left over for investments and most of the time …

Personal Finance

3 Ways Warren Buffett And I Are Different

Ok, let’s get the obvious ones out of the way(these don’t count as part of the 3):<p>Warren Buffett is a multi-billionaire and I am not even a …

Debt and Marriage...they don't go together like anything

I just watched Ali Wong’s Netflix comedy special(hilarious, btw) and in it she reveals her scheme to trap her Harvard Business School graduate …

Personal Finance

Is An RRSP Loan Right For Me?

I logged into my Tangerine account today, scrolled to the bottom of the accounts page and found this:<p>Seems I’ve been <b>pre-approved for a 12 month</b> …

Can't we just take a vacation from inflation?

Everybody talks about inflation.<p>They could at least give me a raise to keep up with inflation.<p>Something, something, something…inflation.<p>How many of …

Retirement

WTF is an ETF?

WHAT IS AN ETF AND WHY DO I CARE?<p>For many people out there, ETF might as well stand for Extra-Terrestrial Fund. Let’s break it down so we’re all on …

Investing

Financial Literacy Series: Investing vs. Saving

<i>November is</i> <i>Financial Literacy Month</i> <i>so I decided to write a series of posts explaining some key things everyone should know about their personal</i> …

Personal Finance

Payments cannot be made on a hourly basis...for advertising purposes only…

The automotive industry has some of the sneakiest and most confusing advertising practices out there. Here is my recreation of an actual ad in a …

Personal Finance

How To Buy Stocks For FREE*!

*OK you caught me – it’s almost free – you have to pay $10 to the nice person who agrees to sell you your first stock.<p>But that’s it!<p><b>After that you</b> …

If you're thinking about a payday loan, try this instead...

First thing’s first:<p><b>I do not like short-term loans.</b><p>Payday loans are the worst, but any kind of short-term loan is bad.<p>Living paycheque to paycheque …

Personal Finance

The Cellphone Contract Renewal: A Tragic Story of Confusion

<i>Scene: Beau’s 2-year cellphone contract has just expired. He wants to upgrade to one of the top devices, so he calls his telecommunications company</i> …

Mint.com is good...but you can make it great

Mint.com is a good personal finance tool. It can connect to all of your accounts and collect all of your income and expenses in one place. It even …

Should I Buy Solar Bonds?

What is a bond?<p>When you buy <b>shares(stocks)</b> in a company, you own part of the company. Your compensation can be in <b>dividends</b> paid to you and/or an</b> …

Investing

That Time Equifax Banned Me For Life

In Canada, there are two credit monitoring and reporting agencies: Equifax and Transunion.<p>In my early 20s, I would check my credit score very …

Identity Theft

Ok, enough with the bank fees

What is a bank?<p>A bank is a place where you <b>keep your money</b> so that if your house goes up in flames, at least your money is safe and you can buy a new …

Personal Finance

That time RBC told me my bank wasn't real.

The Pitch<p>Last year Royal Bank of Canada (RBC) had a promotion:<p>Bring in your bank statement and talk to us about your everyday banking.<p><b>If we can’t</b> …

Business (Canada)

RRS Please...

Max out your RRSPs! This is what everyone will tell you. You don’t pay any taxes on anything you put in an RRSP so you should take advantage of it as …

Who’s Buying Ontario Savings Bonds?

Not me!<p>But I have a long time horizon and have no need for super-safe investments at this time in my life. My profile is more of a balanced portfolio …

Investing

“Free” iPad From RBC Will Cost You At Least $194.35

“Open an account with RBC and get a free iPad mini 2!”<p>Sounds like a great deal on the surface, but is it?<p>Let’s look at the details:<p>THE FINE PRINT<p>Fine …

Personal Finance

Bank Waives Insane $29.95 Monthly Fee If You Give Them $5,000 to Keep Forever

The TD all-inclusive chequing account looks like a great deal:<p>TRANSACTIONS: All transactions are free – up to a $804.50 value per year. Includes a …

Personal Finance

If It Looks Like a Payday Lender, and Quacks Like a Payday Lender…

On the surface, MOGO and CashMoney are very different. If you go to their respective websites, MOGO is about “getting financially awesome” by …

Personal Finance