July 2019

Education Savings Plan: Secure Your Child’s Future with Proper Investment

Should You Take Out Private Student Loans for College?

Statistics Canada has reported about half of the Canadian families having an RESP plan, much lower than Canadians holding a registered retirement savings plan (RRSPs) and a tax-free savings account (TFSAs). This might seem harsh on the part of retirement-conscious families not building a secure education fund for their children. Still, it only reveals the crude economic realities of present-day Canada. Soaring university costs are not within the savings capacity of low-income and middle-income earning Canadian families. Besides, many are wary of the eventuality where their kids may not choose university studies, making an RESP plan an altogether pointless investment choice. All fears granted, there are smart options to dodge perceived uncertainties. Investing in government bonds, Guaranteed Investment Certificates (GICs), … Read more

Holiday Villa Talk – Two Europe Spots for Holiday Vilas to Check Out

by Collaborative Poster

In this blog post, we’re going to take a look at two European spots for holiday villas! More and more people are opting to stay in holiday villas overseas because they offer better value and better locations. Plus, property management companies, like Great Jones, mean you don’t actually need to be based next to holiday villas in order to rent it out. Holiday villas in Lanzarote offer much more than your standard beach vacation Many people mistakenly view Lanzarote as a place for sun and sand but nothing more. Because it’s a Spanish island, a lot of individuals automatically assume that those who rent holiday villas in Lanzarote are merely looking for a standard beach vacation. However, there is a … Read more

Top 7 Excellent Alternatives to Low Interest Savings Accounts

by Hank Coleman

Can you believe the national average interest rate for savings accounts is just 0.09%? Yes, you read that right: 0.09% (not 0.9%). Leaving your money in a savings account is a terrible way to get decent returns on your investments when there are so many better (and higher paying) options available. Many of these alternatives also won’t charge you a dime to manage your savings account, something traditional banks still inexplicably do. If you’d like to start reaping the rewards of saving, then here are some alternatives you should ditch your current savings account for better options than simple low interest savings accounts. 7 Alternatives to Low Interest Savings Accounts: Betterment Ally Synchrony High-Yield Savings Discover Bank Chime App StreetShare … Read more

7 Poor Financial Habits that Spoil Your Credit Score

by Guest Contributor

Your Credit Score May Be Costing You Thousands of Dollars

The following is a guest post by Tiffany Wagner about poor financial habits. If you’d like to contribute a guest post to Money Q&A, be sure to check out our guest posting guidelines. Your credit score sets the boundary between getting approved or declined for a loan or credit card. It determines your creditworthiness and interest rates. Lenders use your credit score as one of the critical deciding factors to let you borrow money to purchase a house or car, rent an apartment, or take out a school loan. The scores set by most lending platforms like Credit Ninja may range from 850 (perfect), 760 (excellent), down to 300 (disaster). As such, it’s important to keep your credit score healthy … Read more

The Negative Effects of Raising Minimum Wage in America

by Hank Coleman

Raising the minimum wage isn’t always the best course of action for the American economy as a whole. The recent push to raise the minimum wage to $15 per hour has many negative effects that few people take into consideration. There are effects of raising the minimum wage. There are many negative effects of raising the minimum wage in the United States, in fact. Does the minimum wage need to increase? Maybe it does. Does it need to more than double, jumping to $15 per hour across the country? Probably not – I think that it’s a bad idea. There are negative effects of raising the minimum wage too much and too fast. According to a recent LendEDU poll, 52% of Millennials do … Read more

What Is a Financial Power of Attorney and How Does It Work?

by Hank Coleman

Common Questions About the Divorce Court Appeals Process

If you were suddenly incapacitated or unable to make decisions on your own due to injury or illness, how would you continue managing your finances? This isn’t an easy situation to think or talk about, but it’s absolutely necessary for most adults to consider because you never know if/when it could happen to you and you should be prepared no matter how small the likelihood of it occurring may be. When an adult is incapable of managing their own finances – oftentimes due to dementia, brain injuries significantly impacting the individual’s judgment, etc. – they need a trusted, responsible individual to assume financial management duties for them. This is often referred to as a financial power of attorney. As much … Read more