Credit Canada

Words to the wise on personal money management.

To everyone out there who is anxious about money and credit, let me say this: invest in a little knowledge and you will be surprised by how quickly you can leave your worries behind.

A first big step in this process is to do a little reading – or a lot of reading, as the case may be. There are plenty of great books you can buy to help you on the road to sound personal money management. Here, largely from a Canadian perspective, I provide an overview of just a few books of interest, not necessarily in order of importance.

• Findepedendence Day. By Jonathan Chevreau. Publisher: Power Publishers.

One of the best books you will find about financial self help is Findependence Day by Jonathan Chevreau, who writes for Canada’s Financial Post. It’s a beautifully written work that combines fiction with fact, resulting in a terrific story that educates even as it entertains. Here is a tale about a couple who are trying to dig themselves out of a financial hole. The story is about how they do it, with a lifetime of common sense lessons thrown in about how to smartly manage, save and invest money. I cannot recommend this book highly enough. (more…)

So, a new year is upon us and with it comes the challenge of making and managing money. Or not.

I address myself to those who are making money but not managing it very well. If 2009 proved to be a difficult if not disastrous time for you money wise, listen up. I bet a dollar to a donut the trouble comes from your insistence on living dangerously – spending beyond your means, and not making what little effort is necessary to create and follow a budget.

Yes, you heard correctly. A budget. In fact, a monthly budget that turns into an annual budget – something that will take you right through to 2011.

Life can be very troublesome without this little aid. You find suddenly that (more…)

A lot of people think budgets don’t work. That’s because: a) they hate the idea of counting every penny they spend b) they cheat on their budget or c) they have an endless supply of money. If you are like me (and most of us are )  the latter doesn’t apply and the first two probably do.  Generally, people do think budgeting is a four-letter word and it is something that is frowned upon, disregarded and a big nuisance.  Well then, call it a spending plan. Now doesn’t that sound better? (more…)