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Calculating Multiple Streams of Income

The following article originally appeared in the Manitoba Teachers’ Society Balance Wellness Magazine.

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In today’s world, there are many of us that have what I will call multiple streams of income.  This can come from different sources, such as two or three part-time jobs versus one full-time job.  It can include a second job throughout the summer months, a side business or a combination of receiving a pension and working part-time.
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Does Consumer Obsession Lead Us to Over Spending

The desire to “keep up with the Jones’s” has become more than a social status issue for many people.

Also, it is effortless to get caught up in a holiday season.

creditaid-overspendingIt has become a catalyst for overspending that has consumers running to banks and other lenders looking for ways to finance their purchases.

This issue also has countless consumers loaded up with credit card debt so steep it may take them a lifetime to get out of it.Give your financial literacy a good double-check, and if you are not already practicing the following financial practices, now is a great time to start today:

Pay bills on time and balance your cheque book each month. You can’t know how much you can afford to spend if you don’t know how much you currently have to spend.

Stop buying on impulse. If you want something, rather than charging it on your credit card and paying interest, save for the next few month and buy it when you have the money.
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Financial Wellness of our Seniors

As published in the December 2016 issue of Balance, a Manitoba Teachers’ Society publication.

By 2021, 22.8% of Canadians will be 65 years of age and older. Do we feel prepared as children and grand-children to help guide and protect them and their finances through their later years of life?

Senior woman meeting with agentThrough the busyness of our own lives, we need to keep in mind that managing finances will become increasingly difficult for our parents and grandparents as they age. When a person ages they can easily lose sight of how to handle money, and even a financially astute person can quickly move to a state of being unable to cope with their finances. If this isn’t recognized it can be very stressful and costly for the elder.

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