When you're 17-25 managing your money can be tough! You're balancing everyday expenses while thinking about your financial future. It's a Money Thing™ resources can help you understand your grown-up piggy bank.
If you are facing debt problems, you may feel that a payday lender is your only option. Not true—you have a number of alternatives to taking out a high-cost payday loan.
Video on Vimeo: Predatory Lending ›
First-time investor? Do your homework before investing your hard-earned cash. Unless you can predict the future, investing is a risky business. Know your goals, your needs and your tolerance for risk before you put your money at stake.
Video on Vimeo: Investment Vehicles ›
How do you relate to money?
Personality can tell us how we learn best, what our strengths are and how we get along with others. But what about revealing our financial personality? As it turns out, there are four money personas that help explain some of our most common financial behaviours.
Video on Vimeo: Common Money Beliefs ›
A New Car
To lease or to finance: that is the question!
The decision to lease or to buy a new car will have an impact on your finances as well as your lifestyle. Understanding the differences will help you make the best decision for you.
Video on Vimeo: Leasing vs. Buying: A New Car ›
Every time you make a purchase, you’re choosing from a wide range of payment methods. Cash, debit or credit? Card A, B or C?
Even though each option represents a way to access basically the same thing (your money), it pays to be smart about when to use each payment type and to understand the differences between them.
Video on Vimeo: Comparing Cards ›
In case you haven’t heard, compound interest is the best. You may remember it as an equation you had to memorize for math class, but it’s so much more than that. It’s the concept that powers all sorts of savings and investment products and, over time, allows you to turn your money into, well, more money!
Video on Vimeo: Compound Interest ›
Credit scores are an area of personal finance that seem a lot more mysterious than they actually are. Many people believe that improving them is a matter of trial and error and, as a result, there’s a lot of “credit score advice” floating around that can end up doing more harm than good.
Video on Vimeo: Boost Your Credit Score ›
You've likely heard about credit scores before (thanks to all those commercials with terrible jingles), but what do you actually know about them? How long have they been around? And what's the deal with checking them?
Video on Vimeo: Credit Score Breakdown ›
Simply put, inflation refers to the rate of change or increase in the average prices of goods and services typically purchased by consumers. When the price level rises, every dollar you have buys a smaller percentage of a good or a service. While prices may seem to rise slowly, the effects of inflation really add up over time!
Video on Vimeo: Understanding Inflation ›
Balancing your chequebook gives you power—the power of knowing exactly how much money is available to you. Whether you use a chequebook register, a spreadsheet on your computer or an app on your mobile device, balancing your chequebook is a good habit to form.
Video on Vimeo: Know Your Chequing Account ›
A loan is also one of the biggest financial commitments we make in our lifetime. Rushing into a loan without fully understanding how it will affect your budget can create a very stressful situation that can quickly spiral out of control.
The good news is that you can avoid this stress entirely by choosing the loan that’s right for you: a loan you can afford, from a reputable lender, with a payment schedule that makes sense.
Video on Vimeo: Loan Basics ›
Are you ready to make the big move?
There’s more to it than paying rent—living on your own creates new expenses that you may not have considered, such as rental insurance, commuting expenses and furnishing your new place. Here are a number of things to consider as you plan for your big move.
Video on Vimeo: Living on Your Own ›
Fitting an emergency fund into your budget can be confusing, though. How much should you save, exactly? What kinds of situations should it be used for? How is it different from your regular savings categories?
It’s time to get your savings in shape—and having an emergency fund in place is a solid step toward a fit financial future.
Video on Vimeo: Emergency Fund Boot Camp ›
While bank and banking are universally understood and accepted terms, the term credit union is still largely misunderstood and unknown to many. Credit union is an unusual term, isn’t it? Is it just another name for a bank? Is it a credit card company? Do I have to be in a union to join?
Learn more about what a credit union is and what it means to be a member.
Video on Vimeo: Cooperatives & Credit Unions ›
When setting up a budget, it’s easy to list all your major expense categories, like your rent or your student loan payment. The tricky part is keeping track of all those little extra expenses—the ones that most people forget to include in their budget in the first place.
Video on Vimeo: Budgeting Basics ›
Identity theft is the fastest-growing non-violent crime in North America. Globally, it costs its victims billions of dollars - not to mention the time and hassle involved in recovering a stolen identity. The key to preventing identity theft is being smart with your personal data in all its various forms.
Video on Vimeo: Foiling Identity Theft ›
As you contemplate moving beyond your piggy bank, the two types of financial institutions that you're most likely to deal with are banks and credit unions. They offer essentially the same products and services including savings and chequing accounts, credit cards, auto loans, mortgages and investment products, but their values and motivations are very different.
Video on Vimeo: Choosing Your Financial Institution ›