3 min read

Does Your Financial Planner Have Your Back?

By Debbi Tonnies-Violette on Jul 17, 2023 10:34:24 AM

When it comes to managing your finances and planning for the future, having a caring and reliable financial planner by your side is crucial.

Your financial planner should be more than just an investment selector. They should have your back when times get tough, regularly check-in with you, and understand important aspects like tax and estate planning.

Topics: Saving for the Future Financial Advice Investing Advice Financial Planning
2 min read

Saving for post-secondary – how much do I actually need to save for my kids?

By Catherine Palmer on Jun 12, 2023 8:00:00 AM

As we head into the summer, we know that September will be here before we know it. And with that, many high school graduates will be heading off to post-secondary, and many parents and caregivers will be supporting them financially.

To no surprise, the cost of post-secondary education in Canada continues to rise.

Topics: Saving for the Future RESP Financial Advice Financial Planning Education Savings
4 min read

My mortgage is coming up for renewal in 2023 – how much is this going to hurt?

By Mark Bolduc on Apr 26, 2023 12:33:16 PM

If your mortgage is coming due this year, you may be wondering how much of an impact the higher interest rates will have on your finances. 
 
While its true that your new mortgage rate may be higher than what you were paying before, its important to remember that there are ways to manage the higher payments and still maintain your overall financial goals. 
 
In this blog, lets explore some steps you can take to overcome the potential of higher mortgage payments and make sure that you can still afford your mortgage and maintain your lifestyle as best as possible.

Topics: Managing Debt Personal Budget Financial Advice Mortgages Buying a home Financial Planning
5 min read

Why is everything so expensive?

By Trevor Lagerwerf on Jan 10, 2023 10:25:00 AM

Do you remember the good old days: $5 footlongs at Subway, Toonie Tuesdays at KFC or a BigMac extra value meal for less than $5? The price of these delicious meals long ago versus the prices now are examples of inflation. Sadly, this has drastically affected my fast food addiction. Unless you’ve been living in a cave, I’m sure you’ve noticed that hardly anything lately has been immune to these price hikes. In this blog, I am going to do my best to describe inflation, how it can hurt your future self and some options you have available to reduce its effects.

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
3 min read

“Buy now pay later” is all the rage. So what’s the deal?

By Sandra Arsenault on Oct 27, 2022 1:19:59 PM

Remember back in the day? “But wait… there’s more! With only 10 easy payments of $19.99, you receive not one, but TWO snuggies!”

The idea of making small and easy payments after receiving an item was almost thought of as a bit of a joke or meme.

However, I recall a couple of years ago purchasing an iPhone on the Apple website. On the checkout page, I was surprised to see the option of paying it off in 4 equal monthly payments. No fees or interest, they said. Lately, I’ve started seeing this option on more and more websites: Wayfair, Amazon, Best Buy.

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
3 min read

Do I really need to start saving for my child’s education this early?

By PenFinancial Credit Union on Sep 1, 2022 12:03:22 PM

Whats the Big Deal?

The news coming out of the USA that up to $10,000 of student debt was being eliminated for most students by the government has dominated the news these days as we once again approach the beginning of school.

And it’s no wonder why that’s such a big deal as post-secondary costs continue to rise not just in the USA, but right here in Canada.

Topics: Financial Literacy RESP Financial Advice Financial Planning
2 min read

5 reasons to choose a Credit Union

By PenFinancial Credit Union on Nov 16, 2021 1:34:11 PM

When it comes to personal finances, Canadians have a lot of choices. It can be overwhelming. While there are plenty of options to choose from, have you considered a credit union?

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
4 min read

Should I pay off my mortgage or invest more?

By PenFinancial Credit Union on Jun 24, 2021 9:58:21 AM

With the current low mortgage rates, I am finding a lot of my members have the same question: should I try pay down my mortgage faster, or should I start/continue investing in my future? My answer is always the same: it depends! The reason I cannot give a definitive answer is due to the number of factors that make each of us unique. In this blog, I would like to share some of the factors I consider when giving advice to my members, and I am hoping I am able to help more people make the decision that is right for them.

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
3 min read

Stop ducking and start 2021 with a plan

By PenFinancial Credit Union on Jan 11, 2021 3:48:25 PM

“An ounce of prevention is better than a pound of cure.” So said Benjamin Franklin, who didn’t have to live through 2020 and eat his way through 32 pounds of home-baked bread. But he was on to something. What he suggested was that we should deal with a problem by putting in a bit of time and planning upfront, instead of constantly ducking like we’re living in a real-life game of whack-a-mole.

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
4 min read

What should I do with my investments?

By Linda Larouche on May 7, 2020 12:25:34 PM

The global pandemic has changed our lives. As we stay home and adjust our lives to suit our new physical and financial realities, many of us are wondering about our financial future. Every week I hear from Members asking important questions: What will happen to my investments? How can I plan for life after the COVID-19 crisis? The good news is you can plan for life after the pandemic.

Topics: Financial Advice Investing Advice Financial Planning