Prof Centsible

A few years ago, I found myself in a bit of a grey area. I had some money sitting in my savings account, but I was not sure how the market was going to perform. At the same time, I did not know if I might need that cash for something like replacing my car or making a lump sum payment on my mortgage...

Over the years, I have chatted with many friends in Fernie about grocery store loyalty programs and realized there are still a lot of people who either are not collecting points or are not using them efficiently. With the cost of living constantly rising, it is important to make every penny count...

This week I had the honour of chatting with a local financial advisor and asked her what some of the most common questions in her office are. Her immediate response was, "Credit cards. How do they work?" While this information might not be new to all of you, she mentioned that people from 16 to over...

I hope everyone had a wonderful holiday season. As we look ahead to the new year, many of us are setting new goals and resolutions. One of mine is to reduce unnecessary spending and to review our budget with my partner, to ensure we are aligned on our financial goals and how we plan to achieve them...

As the year winds down, a few strategic moves could make a real difference in your tax situation. Timing your deductions and credits, or reviewing last-minute opportunities, can help reduce your taxable income, increase your refund, or lower the tax you owe. Even during the hectic holiday season...

As the holiday season approaches, many of us feel stressed and overwhelmed by the pressure to prepare, provide, and do enough. I wanted to share a few strategies I use myself to reduce the expectations we put on ourselves and hope this resonates with anyone who tends to overspend or isn't in a...

Compound Interest is when you earn "interest on your interest." It's not just growth on your original money. It's growth on your original money plus all the interest it has already earned. Example: You have $100 that earns 10% interest per year. • Year 1: You earn 10% of $100 = $10. Your new total...

When you’re new to investing, it can feel overwhelming—especially with all the acronyms and financial jargon. But it doesn’t have to be complicated. By understanding a few basics, assessing your risk tolerance and starting small, you can begin putting your money to work. If you're fortunate enough...

This month we will review three types of registered accounts available to Canadians: The Registered Retirement Savings Plan (RRSP), Tax-Free Savings Account (TFSA), and the First Home Savings Account (FHSA). A registered account is an investment or savings account that receives special tax treatment...

Uncertainty is a part of life, but when it impacts your finances, it can feel overwhelming. Whether it’s the sudden loss of income, unexpected expenses, or global economic shifts, having a clear financial plan is essential to weathering the storm. A well-crafted budget isn’t just about cutting back...