Sean Cooper, Personal Finance Journalist

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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What is Insolvency?

By Sean on May 21, 2019

Insolvency means you’re unable to pay 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 flow insolvency (otherwise known…

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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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Zero-Based Budgeting: Every Dollar Matters

By Sean on April 4, 2019

Zero-based budgeting is when you allocate every dollar of your monthly income for budgeting purposes. In other words, your income minus expenses should be equal to zero. To do that, you need to ensure your monthly expenses match your monthly income, and that every dollar is being given a purpose. Here’s an important distinction: A…

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Disability Tax Credit

By Sean on March 25, 2019

The disability tax credit (DTC) is a tax credit to help lessen the tax burden of those with a disability and their supporting person. In this article we’ll look at who is eligible for the DTC and what happens after you send in Form T2201, among other things. What is the disability tax credit? The…

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