Personal Finance Discussions Archive

The purpose of these posts is to encourage open discussion on personal finance topics outside budgeting and debt-repayment.

Key topics: side hustles, frugal living, life lessons, beliefs about money

Four considerations for buying a house in a hot market

January 20, 2022

For many, buying a house is the most significant purchases they will make. Here are four considerations for buying in a hot market.

For many, buying a house is one of the most financially significant purchases they will make.

Individual circumstances notwithstanding, becoming a homeowner can involve a lot of money upfront followed by years spent paying back the rest of the money required to attain the asset. Sure, there are folks out there who can purchase a house without taking on debt to do it, but that’s most certainly the exception, not the rule.

Finding a home can also be a time consuming process, frustrating process — especially when the market is hot.

I know this because it’s what we experienced while house hunting in spring 2021.

It’s been about seven months since we closed on and move into our house. And while buying one house in a hot market does not an expert make, I did learn a few things during the process which may (or may not) be useful to others who are in the process of house hunting.

Maternity leave in Canada: 6 tips to help you prepare

September 30, 2021

Planning to take maternity leave in Canada? Here are six simple steps you can take to prepare your finances.

Before getting pregnant, I knew very little about maternity leave in Canada.

I knew I would be eligible and that I would receive less money…and that was about it.

Of course, my lack of knowledge about the ins and outs of maternity leave in Canada makes sense. Before having a baby, I didn’t have a reason to have experience with the program.

That changed as soon as I found out we were expecting. Understanding how having a baby would impact our finances was important to me from the start.

Today, I’m sharing a snapshot of what I learned, my experience with maternity and parental leave in Canada so far and a few tips based on my experience.

Should you do your own taxes? Three things to consider

February 18, 2021

Should you do your taxes yourself or take them to a professional? Here are some things to consider when it comes to doing your own taxes.

I’m a big fan of doing your own taxes but that wasn’t always the case.

For several years, the idea felt daunting. The way I saw it, the existence of professional tax prep services suggested it was not a job for a novice, especially one with so little experience taking care of “adult” business.

So, for years, I gathered my documents and handed them over to someone else to deal with.

And for years, it worked out just fine.

But over time, I started to question my assumption about filing taxes. As I got older, I started to wonder: is it really that difficult a process?

I decided to find out. We picked up Turbo Tax at the grocery store and I set to work preparing our tax returns.

I’ve been doing our taxes myself ever since.

But what about you? Should you be doing your taxes yourself or taking them to a professional?

Here are some things to consider when it comes to making decisions about doing your own taxes.

Pay down debt or save? Why we’re doing both

November 17, 2020

Should I pay down debt or save?

The answer to that question will vary depending on who you ask — and chances are, the person answering it will have strong opinions.

But the trouble I’ve found with a lot of the advice is, often, it errs on the side of too simplistic, too all or nothing. And while I’m not a financial expert, that has never felt right to me.

When it comes to paying down debt or saving, I don’t think it needs to be all or nothing.

Here’s a look at why and how we’re doing both.