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Posts from the ‘Featured Articles’ Category

12
Apr
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Protect Yourself Against Identity Theft

By Carla Hindman, Director of Financial Education, Visa Canada

A fast growing and ominous crime in Canada today is identity theft, where someone steals your personal information and uses it to open a bank account or take out a loan, make purchases, secure false identification, or commit other offenses. Victims are often unaware it’s happened for months, by which time their credit may have been damaged – or worse.

How do identity thieves get your information? It could be as simple as rummaging through your trash, snatching your purse or stealing your mail, or as “high-tech” as hacking into your email account or your employer’s computer system. Thieves sometimes steal receipts from dumpsters and have even been known to watch with binoculars as people enter their personal codes into telephones or ABMs. Read more »

6
Mar
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Make Sure Your Will is Crystal Clear

By Elaine Blades

Having a well-drafted will that clearly expresses your intentions is essential.

If you’ve written instructions someone will find confusing, they can’t ask you for clarification. It’ll be too late.

I’ve reviewed far too many wills where not enough was said to truly reflect the testator’s intentions. For instance, say your will has the following clause:

To pay $10,000 to each of my sister Elizabeth and my friend Catherine.

Click here to read more

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10
Feb
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How much house can I afford?

by Larry MacDonald for Money Sense Magazine

Q: My fiancée Michelle and I are building a custom home together. We have a $1.5 million budget in mind but we’d like to go higher if we can afford to. Or should we actually be spending less? We need to make a decision and we’re not sure what to do.  Darren, Toronto

A: There is no doubt that you guys are in a unique position. Darren, you’re earning the entry level minimum this year, but hope your agent can negotiate a big contract next spring. Your career could last 10 years, but an injury or a bad season could easily cut things short. And it’s hard to say what your potential income-earning ability might be thereafter.

Read more »

16
Jan
Executor

Should You Become Executor of Someone’s Estate?

By Carla Hindman, Director of Financial Education, Visa Canada

One of the most important decisions you’ll make when writing your will is determining who should be named executor of your estate. Even if you’re just leaving behind household goods and a small savings account, someone – whether appointed by you or the government – must settle your affairs.

Some people consider it an honour – or duty – to take responsibility for ensuring that their loved one’s final wishes are carried out. But serving as an executor can be onerous and time-consuming, even for those with a strong financial or legal background. In a worst-case scenario, executors who act imprudently or in violation of their duties can be sued by beneficiaries and creditors. Read more »

28
Nov
criticalillness

Are You Ready To Deal With A Critical Illness?

Consider the following facts:

  • 40% of Canadian women and 45% of men will develop cancer during their lifetime
  • In 2005, cardiovascular disease (heart disease, diseases of the blood vessels and stroke) accounted for 31% of all deaths in Canada

Advances in medical science means that you have a better chance of surviving a critical illness. However, a critical illness often is accompanied by a huge financial burden to you and your family. Read more »