Name: Personal Finance For Canadians For Dummies Paperback
SKU: 9781119522799
Price: 29.99 CAD
Availability: InStock

Description

Publish Date: Dec. 06 2018
Pages: 512

The easy way to get your personal finances in order Personal Finance For Canadians For Dummies offers readers a comprehensive roadmap to financial security. Written by expert authors Eric Tyson and Tony Martin, it offers pointers on how you can eliminate debt and rein in spending, along with helpful tips on how to reduce taxes and save more. The guide also offers a primer on investing, showing how you can build your wealth to ensure a comfortable retirement and university or college for the kids. With up-to-date Canadian examples and references, Personal Finance For Canadians For Dummies arms you with the tools you need to take control of your financial life—in good times and bad. <ul> <li>Make smart personal finance decisions</li> <li>Plan the personal finance portfolio that’s right for you</li> <li>Reach your personal finance goals</li> <li>Know all of your options</li> </ul> The expert advice offered in Personal Finance For Canadians For Dummies is for anyone looking to ensure that their finances are on the right track—and to identify the best strategies to improve their financial health., Introduction 1 About This Book 2 Foolish Assumptions 3 Icons Used in This Book 3 Beyond the Book 4 Where to Go from Here 4 Part 1: Getting Started with Personal Finance 5 Chapter 1: Improving Your Financial Literacy 7 Talking Money at Home 8 Identifying Unreliable Sources of Information 10 Understanding the dangers of free financial content online 10 Recognizing fake financial gurus 11 Publishers pandering to advertisers 14 Jumping over Real and Imaginary Hurdles to Financial Success 15 Discovering what (or who) is holding you back 16 Developing good financial habits 16 Chapter 2: Measuring Your Financial Health 19 Avoiding Common Money Mistakes 20 Determining Your Financial Net Worth 22 Adding up your financial assets 22 Subtracting your financial liabilities 23 Crunching your numbers 24 Interpreting your net worth 24 Examining Your Credit Score and Reports 25 Understanding what your credit data includes and means 25 Obtaining your credit reports and score 26 Improving your credit reports and score 28 Getting credit report errors corrected 29 Knowing the Difference between Bad Debt and Good Debt 30 Consuming your way to bad debt 31 Recognizing bad debt overload 32 Assessing good debt: Can you get too much? 33 Playing the credit-card float 34 Analyzing Your Savings 35 Evaluating Your Investment Knowledge 36 Assessing Your Insurance Savvy 38 Chapter 3: Managing Where Your Money Goes 39 Examining Overspending 40 Having access to credit 40 Misusing credit cards 40 Taking out car loans 41 Bending to outside influences and agendas 42 Spending to feel good 43 Analyzing Your Spending 43 Tracking spending the low-tech way 44 Tracking your spending on “free” websites and apps 49 Chapter 4: Establishing and Achieving Goals 53 Creating Your Own Definition of Wealth 53 Acknowledging what money can’t buy 54 Managing the balancing act 54 Prioritizing Your Savings Goals 56 Knowing what’s most important to you 57 Valuing retirement plans 57 Dealing with competing goals 58 Building Emergency Reserves 58 Saving to Buy a Home or Business 59 Funding Kids’ Educational Expenses 60 Saving for Big Purchases 60 Preparing for Retirement 61 Figuring out what you need for retirement 62 Understanding retirement building blocks 64 Crunching numbers for your retirement 77 Making up for lost time 79 Part 2: Spending Less, Saving More 81 Chapter 5: Dealing with Debt 83 Using Savings to Reduce Your Consumer Debt 84 Understanding how you gain 84 Finding the funds to pay down consumer debts 85 Decreasing Debt When You Lack Savings 86 Reducing your credit card’s interest rate 86 Understanding all credit-card terms and conditions 87 Cutting up your credit cards 87 Discovering debit cards: The best of both worlds 88 Turning to Credit-Counselling Agencies 89 Beware biased advice at credit-counselling agencies 90 Ask questions and avoid debt-management programs 91 Filing Bankruptcy 92 Understanding bankruptcy benefits 93 Coming to terms with bankruptcy drawbacks 95 Seeking bankruptcy advice 96 Considering a Consumer Proposal: An Alternative to Bankruptcy 97 Stopping the Spending/Consumer Debt Cycle 98 Resisting the credit temptation 98 Identifying and treating a compulsion 99 Chapter 6: Reducing Your Spending 101 Unlocking the Keys to Successful Spending 101 Living within your means 102 Looking for the best values 103 Cutting excess spending 108 Shunning consumer credit 109 Budgeting to Boost Your Savings 109 Reducing Your Spending 110 Managing food costs 111 Saving on shelter 115 Cutting transportation costs 117 Lowering your energy costs 120 Controlling clothing costs 121 Repaying your debt 122 Indulging responsibly in fun and recreation 122 Lowering your phone bills 124 Technology: Spending wisely 126 Curtailing personal-care costs 126 Paring down professional expenses 127 Managing medical expenses 128 Eliminating costly addictions 129 Keeping an eye on insurance premiums 130 Trimming your taxes 131 Chapter 7: Trimming Your Taxes 133 Understanding the Taxes You Pay 133 Focusing on your total taxes 134 Recognizing the importance of your marginal tax rate 134 Defining taxable income 136 Being mindful of the second tax system: Alternative minimum tax 136 Trimming Employment Income Taxes 137 Contributing to registered retirement plans 137 Shifting some income 138 Increasing Your Deductions 139 Childcare expenses 139 Alimony and maintenance payments 140 Child support 140 Annual union and professional fees 140 Business losses 141 Interest on investment loans 141 Moving expenses 141 Making the Most of Tax Credits 142 Understanding how the federal and provincial tax systems work together 142 Maximizing your tax credits 143 Trading consumer debt for mortgage debt 147 Deducting self-employment expenses 148 Reducing Investment Income Taxes 150 Selecting other tax-friendly investments 150 Making your profits long term 150 Enlisting Education Tax Breaks 151 Getting Help from Tax Resources 153 Obtaining CRA assistance 153 Consulting preparation and advice guides 154 Using software and websites 154 Hiring professional help 154 Dealing with an Audit 156 Getting your act together 156 Surviving the day of reckoning 157 Part 3: Building Wealth through Investing 159 Chapter 8: Considering Important Investment Concepts 161 Establishing Your Goals 161 Understanding the Primary Investments 162 Looking at lending investments 162 Exploring ownership investments 163 Shunning Gambling Instruments and Behaviors 164 Forsaking futures, options, and other derivatives 165 Ditching day trading 165 Understanding Investment Returns 166 Sizing Investment Risks 167 Comparing the risks of stocks and bonds 167 Focusing on the risks you can control 168 Discovering low-risk, high-return investments 169 Diversifying Your Investments 170 Spreading the wealth: Asset allocation 171 Allocating money for the long term 173 Sticking with your allocations: Don’t trade 174 Investing lump sums via dollar-cost averaging 175 Acknowledging Differences among Investment Firms 176 Focusing on the best firms 177 Places to consider avoiding 179 Seeing through Experts Who Predict the Future 183 Investment newsletters 184 Investment gurus 184 Leaving You with Some Final Advice 186 Chapter 9: Understanding Your Investment Choices 189 Slow and Steady Investments 189 Transaction/chequing accounts 190 Savings accounts and money-market funds 190 Bonds 191 Building Wealth with Ownership Vehicles 193 Socking your money away in stocks 193 Investing internationally in stocks 194 Generating wealth with real estate 201 Investing in small business (and your career) 205 Off the Beaten Path: Investment Odds and Ends 208 Precious metals 209 Bitcoin and other cryptocurrencies 209 Annuities 211 Collectibles 211 Chapter 10: Investing in Funds 213 Understanding the Benefits of Mutual Funds and Exchange-Traded Funds 214 Exploring Various Fund Types 215 Money-market funds 215 Bond funds 216 Stock funds 217 Balancing bonds and stocks: Hybrid funds 218 Canadian, U.S., international, and global funds 218 Index funds 219 Specialty (sector) funds 220 Selecting the Best Funds 221 Reading prospectuses and annual reports 222 Keeping costs low 222 Evaluating historic performance 225 Assessing fund-manager and fund-family reputations 225 Rating tax-friendliness 226 Determining your needs and goals 226 Deciphering Your Fund’s Performance 227 Interest and dividends 228 Capital gains 228 Share-price changes 229 Evaluating and Selling Your Funds 229 Chapter 11: Taking Advantage of Registered Retirement Savings Plans 231 Understanding How RRSPs Work 232 The benefits of tax-deductible contributions 232 The payoff from tax-deferred compound growth 233 Maximizing Your RRSP’s Growth 234 The payoff from starting an RRSP early 234 Increasing your returns 235 Examining the Contribution Rules 237 Checking out the contribution limits 237 How much can you contribute? 238 Types of Registered Retirement Savings Plans 241 Taking Money Out of Your Plan before Retirement 243 Regular withdrawals before retirement 244 Special circumstances 244 Closing Down Your RRSP 245 Registered Retirement Income Funds 246 Annuities 249 Chapter 12: Investing in Retirement Plans 253 Allocating Your Money in Retirement Plans 254 Understanding the difference between a retirement plan and the investments inside a retirement plan 254 Prioritizing retirement contributions 255 Allocating money when your employer selects the investment options 256 Allocating money in retirement plans you design 259 Understanding annuities: An odd investment 266 Transferring Retirement Plans 267 Transferring retirement plans you control 267 Moving money from an employer’s plan 269 Chapter 13: Investing Outside Tax-Sheltered Retirement Plans 271 Getting Started 272 Paying off high-interest debt 272 Taking advantage of tax breaks 273 Taking Advantage of Tax-Free Savings Accounts 273 Understanding how much you can contribute 274 Understanding your investment choices 275 Making withdrawals 275 Understanding Registered Disability Savings Plans 276 Determining whether you’re eligible for an RDSP 276 Earning disability grants 277 Withdrawing funds 277 Understanding Taxes on Your Investments 278 Fortifying Your Emergency Reserves 279 Bank and credit-union accounts 279 High-interest savings accounts 280 Money-market funds 281 Investing for the Longer Term (Several Years or Decades) 284 Defining your time horizons 285 Bonds and bond funds 285 Guaranteed investment certificates 287 Stocks and stock funds 287 Annuities 288 Real estate 288 Small-business investments 288 Chapter 14: Investing for Educational Expenses 289 Strategizing to Pay for Educational Expenses 290 Estimating university or college costs 290 Setting realistic savings goals 291 Strategies for Saving for Education Expenses 292 Registered Education Savings Plans 292 In-trust accounts 296 Obtaining Loans, Grants, and Scholarships 297 Government student-loans programs 298 Canada Student Grants 300 Tips for getting loans, grants, and scholarships 304 Investing Educational Funds 305 Good investments: No-load mutual funds and exchange-traded funds 305 Bad investments 306 Overlooked investments 306 Chapter 15: Investing in Real Estate: Your Home and Beyond 309 Deciding Whether to Buy or Rent 310 Assessing your timeline 310 Determining what you can afford 310 Calculating how much you can borrow 311 Comparing owning versus renting costs 313 Considering the long-term costs of renting 316 Recognizing advantages to renting 318 Financing Your Home 318 Understanding mortgage essentials 319 Examining the difference between fixed- and variable-rate mortgages 323 Checking out the Home Buyers’ Plan 324 Avoiding the down-payment blues 327 Finding the best lender 329 Increasing your approval chances 331 Finding the Right Property 332 Condo, town house, co-op, or detached home? 332 Casting a broad net 333 Finding out actual sale prices 333 Researching the area 334 Working with Real-Estate Agents 335 Recognizing conflicts of interest 335 Looking for the right qualities in real-estate agents 336 Putting Your Deal Together 338 Negotiating 101 338 Inspecting before you buy 338 Remembering title insurance 339 After You Buy 340 Refinancing your mortgage 340 Considering mortgage life insurance 342 Weighing the pros and cons of a reverse mortgage 343 Selling your house 344 Part 4: Insurance: Protecting What You Have 347 Chapter 16: Insurance: Getting What You Need at the Best Price 349 Discovering the Three Laws of Buying Insurance 350 Insure for the big stuff; don’t sweat the small stuff 350 Buy broad coverage 355 Shop around and buy direct 357 Dealing with Insurance Problems 360 Knowing what to do if you’re denied coverage 360 Getting your due on claims 361 Chapter 17: Insurance on You: Life, Disability, Long Term Care, and Medical 367 Providing for Your Loved Ones: Life Insurance 368 Determining how much life insurance to buy 368 Looking at the Canada Pension Plan and Quebec Pension Plan’s survivor benefits 369 The impact on Old Age Security benefits 370 Comparing term life insurance to cash-value life insurance 371 Making your decision 374 Buying term insurance 375 Considering the purchase of cash-value life insurance 377 Getting rid of cash-value life insurance 377 Preparing for the Unpredictable: Disability Insurance 378 Deciding whether you need coverage 378 Determining how much disability insurance you need 379 Identifying other features you need in disability insurance 380 Deciding where to buy disability insurance 381 Planning for Nursing-Home Care: Long-Term-Care Insurance 382 Getting Care for the Road: Travel Medical Insurance 383 Determining what coverage you already have 383 Buying travel medical insurance 384 Chapter 18: Covering Your Assets 385 Insuring Your Home 385 Dwelling coverage: The cost to rebuild 386 Personal property coverage: For your things 386 Liability insurance: Coverage for when others are harmed 387 Flood and earthquake insurance: Protection from Mother Nature 388 Deductibles: Your cost with a claim 390 Special discounts 390 Buying homeowner’s or renter’s insurance 390 Auto Insurance 101 391 Bodily-injury and property-damage liability insurance 391 Uninsured or underinsured motorist liability 392 Deductibles 392 Special discounts: Auto edition 393 Little-stuff coverage to skip 393 Buying auto insurance 394 Protecting against Mega-Liability: Umbrella Insurance 395 Planning Your Estate 395 Wills, living wills, and medical powers of attorney 396 Avoiding probate through living trusts 397 Planning your estate to minimize taxes triggered by your death 398 Part 5: Where to Go for More Help 401 Chapter 19: Working with Financial Planners 403 Surveying Your Financial Management Options 403 Doing nothing 404 Doing it yourself 404 Hiring financial help 404 Deciding Whether to Hire a Financial Planner 407 How a good financial planner can help 408 Understanding why planners aren’t for everyone 409 Recognizing conflicts of interest 409 Finding a Good Financial Planner 413 Soliciting personal referrals 413 Seeking planners through associations 414 Interviewing Financial Planners: Asking the Right Questions 414 Learning from Others’ Mistakes 418 Chapter 20: Using Technology to Manage Your Money 419 Surveying Software, Apps, and Websites 419 Adding up financial software benefits 420 Understanding how apps can benefit and harm your bottom line 421 Surfing hazards online 422 Accomplishing Money Tasks on Your Computer, Tablet, or Smartphone 425 Paying your bills and tracking your money 425 Planning for retirement 427 Preparing your taxes 428 Researching investments 428 Trading online 429 Reading and searching periodicals 430 Investing through automated investment managers: Robo advisors 430 Buying life insurance 431 Preparing legal documents 431 Chapter 21: Online, On Air, and in Print 433 Observing the Mass Media 433 Alarming or informing? 434 Teaching questionable values 434 Worshipping prognosticating pundits 435 Rating Radio and TV Financial Programs 435 Finding the Best Websites 436 Navigating Newspapers and Magazines 436 Betting on Books 437 Part 6: The Part of Tens 439 Chapter 22: Survival Guide for Ten Life Changes 441 Starting Out: Your First Job 442 Changing Jobs or Careers 443 Getting Married 444 Buying a Home 446 Having Children 446 Starting a Small Business 449 Caring for Aging Parents 450 Divorcing 452 Receiving a Windfall 453 Retiring 455 Chapter 23: Ten Tactics to Thwart Identity Theft and Fraud 457 Save Phone Discussions for Friends Only 458 Never Respond to Emails Soliciting Information 459 Review Your Monthly Financial Statements 459 Secure All Receipts 460 Close Unnecessary Credit Accounts 460 Regularly Review Your Credit Reports 460 Keep Personal Info Off Your Cheques 461 Protect Your Computer and Files 461 Protect Your Mail 462 Clean Out Your Wallet 462 Glossary 463 Index 477, Eric Tyson, MBA, is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles. Tony Martin, B.Comm, is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of Personal Finance For Canadians For Dummies., <ul> <li>Get out of debt and boost your savings</li> <li>Build wealth with proven investing strategies</li> <li>Save and buy your dream home</li> </ul> Take control of your financial future Expert authors Eric Tyson and Tony Martin combine their tried-and-true advice on how you can eliminate debt and rein in spending with helpful tips on how to reduce taxes and save more. They also offer a primer on investing, showing how you can build your wealth to ensure a comfortable retirement for yourself and university or college education for the kids. With up-to-date information on the latest tax laws and investing trends, this bestselling book arms you with the tools you need to take control of your financial life—in good times and bad. Inside… <ul> <li>Grow your RRSP and Tax-Free Savings Account</li> <li>Save for university or college</li> <li>Make profitable investments in any market</li> <li>Improve your credit score</li> <li>Cut your tax bill</li> </ul>, US

Personal Finance For Canadians For Dummies Paperback

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