Sean Cooper, Personal Finance Journalist

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What is Insolvency?

By Sean on September 21, 2020

Insolvency is a financial state where you’re unable to meet your debts as they come due. When used as a commercial term, it means that your business is unable to pay off its debts. It is typically defined in two separate ways: cash flow insolvency and balance sheet insolvency. Let’s look at both now. Cash…

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First time home buyer Incentive

First time home buyer Incentive

By Sean on June 16, 2020

Are you a first-time home buyer looking to purchase a home in the near future? You may have heard of and be familiar with the First-Time Home Buyer Incentive (FTHBI). The FTHBI is a government program designed to help those buying a home for the first time. In this article, we’ll look at what the…

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CMHC Mortgage Rule Changes

CMHC Mortgage Rule Changes

By Sean on June 8, 2020

There are many CMHC mortgage rule changes that have the potential to affect many Canadians.  The Canada Mortgage and Housing Corporation (CMHC) recently announced many vital changes that could affect those currently looking for a home. The crown corporation is banning borrowed down payments. It’s also increasing its minimum required credit score and lowering its…

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Simple Ways to Pay Down Your Mortgage Sooner

By Sean on May 28, 2020

Are you interested in investing in real estate? Unless you can afford to pay for a property in cash, you’ll need to take out a mortgage. For many Canadians, the dream is to be mortgage-free by retirement. But what if you could pay down your mortgage a lot sooner? Once you have high-interest debt like…

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Collection Agencies Act – What You Need To Know

By Sean on March 30, 2020

The goal of the Collection Agencies Act is to keep collection agents from participating in a prohibited practice. Basically, for a collection agency to collect from those who owe, they must follow. According to the act Canada lawmakers created, it prohibits certain behaviours and tactics. While it may be their right to receive payment of…

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Budgeting Basics

Budgeting Basics – Get More Control Of Your Finances

By Sean on March 17, 2020

It’s time to get down to the basics. In this article, we’re going to look at the basics of budgeting. Now I know what you’re thinking, a budget is no fun. While that may be the perception, this couldn’t be further from the truth. Topics include learning personal and family budgeting basics, the step of…

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Practical Canadian Tax Tips in 2020

Practical Canadian Tax Tips in 2020

By Sean on March 9, 2020

With the 2020 tax season in full swing, we thought it would be the perfect time to share some tax tips. In this article, we’ll look at ways to boost your tax refund, tips on getting your taxes filed on time and a tax credit for people with disabilities. 5 Simple Ways to Boost Your…

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Credit Ratings Explained

By Sean on June 10, 2019

Credit is something many of us take for granted. If you have good credit, you should have no problem borrowing money at the best interest rates with the most favourable terms and conditions. If you’re able to pay for your home, car and other assets in cash, you may not care about your credit score,…

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Activity-Based Budgeting: Time is Money

By Sean on May 2, 2019

Activity-based budgeting is a method associated with business: it’s when you figure out all the costs for all your products and services. After you have a list of those costs, you then make a budget based on all your business’s activities. Usually when you’re budgeting, you look at the previous year’s budget and make changes…

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Incremental Budgeting: Gaining Capital Over Time

By Sean on April 16, 2019

Incremental budgeting is a budget type where you add a specific amount of capital to a previous quarter’s or period’s budget to permit slight increases. This method is mostly used as budgeting for businesses. Although this budget method is simple (much simpler than activity-based budgeting), most financial professionals won’t recommend it. The main reason is…

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