By Sheryl Smolkin
As I write this, perhaps the most newsworthy item of the last week has been the election of the new Liberal Prime Minister Justin Trudeau. But it will be weeks and months before we know what impact the change in government will actually have on our day to day lives and the Canadian economy.
So today, we go back to basics and draw on the writings of many of our favourite personal finance bloggers and mainstream media pundits who day in and day out, produce articles that help us better manage our money.
The thought of being unemployed is terrifying, but the odds are it will happen to you or a close family member at least once in your lifetime. On Money We Have, Barry Choi writes about How to Prepare for Unemployment. He suggests that you have an emergency fund; a side hustle and that you improve your skills.
Gail Vaz-Oxlade tackles Parenting on a Budget. She says the trick to not letting kids’ expenses get way out of hand is to allocate a specific amount to each child’s activities and needs, and stick with the plan. Start by listing all the things your children do for which you must lay out some of your hard-earned bucks.
Krystal Yee has been vegetarian for almost two years now. She shares on Give me back my five bucks her one month experiment moving from vegetarian to vegan. She anticipates higher than normal grocery bills and that it will be tough to change her habits, but she is hoping that one month will turn to two months and the result will be a new lifestyle.
If you wonder where your money goes, you’ll enjoy The crunch years: Where the money goes by Matt McCleern on MoneySense. McCleern tracked every cent he spent digitally, over the last 12 years. He says transportation and daycare were real budget busters, but the best financial decision he ever made was to aggressively pay down his mortgage.
And in the Huffington Post, Pramod Udiaver discusses five major trends that will affect how you retire. They are increasing longevity; the lower return environment; fewer defined benefit pension plans; and growing health care costs.
Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information with us on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.