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Approaching the age of 50, Margaret, a single woman living in Toronto, had nearly given up on her dream of owning property in the city. All around her, home prices were skyrocketing in the uptown neighbourhood where she rented a small apartment. She had substantial savings, but worried if she didn't act soon, she'd be [...]
For many, the importance of homeownership has been passed down from previous generations. We follow suit by working hard at our 9-to-5 jobs and saving for our 20% down payment. But times are changing, and so is the workforce landscape. Some of us no longer work the standard 40 hours per week. In 2015, over 2.75 [...]
Three personal finance bloggers who paid off their student loans in record time after graduation say careful budgeting, working multiple jobs and continuing to live like students were the keys to their success. Cut costs and add a part-time job Krystal Yee (Give Me Back My Five Bucks) lived with her family when she was in college, [...]
In 2016, Forward Thinking covered just about every financial topic under the sun, from bathroom renovations to filing taxes online to family squabbles over money. Our goal was to cover subjects Canadians have questions about it, so thank you for following us this year, and we hope we were able to help answer a few [...]
How would you like to reach mortgage freedom sooner? The rising cost of real estate means many of us are taking on larger mortgages than ever before to purchase our dream home. This has homeowners looking for creative ways to pay down their mortgage. Many are buying homes with the idea of renting out a part [...]
We all know the importance of regular checkups with our family doctor, but when it comes to our financial health, we sometimes fail to give it the same attention. While a budget is a helpful way to track your daily spending, tracking your net worth gives you the “big picture” of your finances and is [...]
For most people, buying a home is the single largest financial transaction they'll ever make. And with housing prices in some locales rising faster than a shuttle launch, housing affordability has become a policy concern. Much speculation has been placed on just how much of an impact foreign capital is having in driving up prices. As [...]
With the average price of a Canadian house rising 13% in the past year, it's not surprising that even older Canadians with substantial retirement savings may be looking for ways to unlock some home equity to help fund their retirement. For a number of seniors, this can be accomplished by selling their home and renting or [...]
When you're house hunting and you find a home like you'd like to call your own, it's time to seal the deal by making the offer to purchase. The offer has several key items, including: offer price, chattels, closing date and of course, conditions. A condition is a way to protect yourself as a buyer when [...]