Personal Finance
From budgeting to investments, we want you to be comfortable with your finances so we’re sharing our (not so) best kept secrets.
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2023 IN REVIEW: FINANCE EDITION
As we approach the end of 2023, let’s discuss what happened this year in the Canadian world of finance, what happened with our personal money management, and how we can improve our financial situation in 2024. It’s important to reflect on the year in all aspects of our lives, and how we can better plan for the future. In this blog, we will dive into the key highlights of the financial landscape in Canada for 2023 and provide some tips to help you plan your finances more effectively for 2024.
INVESTING IN A GIC
Invest with no risk! A Guaranteed Investment Certificate (GIC) is a great option for every type of investor. Available in short and long terms, your original investment is 100% protected from the rise and fall of the market – so you have nothing to lose and everything to gain.
MARCH IS FRAUD PREVENTION MONTH IN CANADA
Knowing the signs and learning how to protect yourself from fraud is your best bet to stay safe.
PLANNING TO PURCHASE YOUR FIRST CAR
Is buying your first car something on your 2023 vision board? This major purchase is something not to be rushed into. Proper planning, research and advice is needed - ahead of time.
WHY YOU NEED TO START AN RRSP TODAY
Retirement is something we should all be thinking about, regardless of your age or where you are in life. We’ve compiled everything you need to know about RRSPs and why you need to start one today.
HOW TO TAKE CONTROL OF YOUR HOLIDAY SPENDING
For many of us, the holidays quickly become a money-spending spree. Here are some tips on how to keep control of your finances this holiday season so you aren’t starting the new year with a financial disaster on your hands.
THINGS TO KNOW BEFORE LIVING ON YOUR OWN
Eager to live on your own? Have plans to move out of your parents' place? At YNCU we know how exciting it is to get your own place and start your own journey. We also know that school does not always prepare you for the financial responsibility that comes with moving out.
BE READY FOR THE UNEXPECTED WITH YNCU'S EMERGENCY SAVINGS ACCOUNT
At YNCU, we understand how unpredictable life can be and we want to help set you up for financial success. Oftentimes, when planning finances, people only think of their savings, retirement, and managing their debt. People often forget to plan for emergencies. Emergencies can happen at any time (take the pandemic for example) and you never know when unexpected costs will arise.
INFLATION AND BACK TO SCHOOL
At YNCU, we know back-to-school can cause a lot of stress during this time of inflation. Rising costs have caused people to have to limit their spending and focus on the essentials. With the upcoming school year fast approaching, parents are concerned about how they are going to pay for these expenses.
CYBERSECURITY - WAYS TO PROTECT YOURSELF
At YNCU, we know how important it is for you to feel safe with your finances. The threat of cyber-attacks has been on the rise and your finances can be vulnerable online. We want to help keep you safe online.
HOW TO MAKE YOUR SCHOLARSHIP APPLICATION STAND OUT
At YNCU, we know thinking about starting post-secondary education is stressful, especially when thinking about how you’re going to pay for it. The Ontario Credit Union Foundation is providing funding for Ontarians looking to focus their studies in academic, vocational, or technical at an accredited post-secondary institution in Canada or abroad.
ALTERNATIVE WAYS TO FUND YOUR EDUCATION OTHER THAN STUDENT LOANS
At YNCU we know planning how to fund your education is stressful. Everyone’s situation is different, so if you’re looking for alternative ways to pay for school, other than family or government loans, here are some tips that may help.
HOW TO TEACH YOUR KIDS ABOUT MONEY
Providing your kids with a solid sense of financial literacy can help develop their skills and secure a stable financial future in adulthood. Teaching basic skills around saving, spending and earning can go a long way when it comes to establishing good money habits. There are many different ways to build on your children’s financial knowledge as they grow, and the earlier you start the better.
THE ULTIMATE GUIDE TO PAYING OFF STUDENT LOANS
Graduating from college or university is a very exciting time as you start your careers and begin living independently. But, it can also be a very stressful time as the reality of student loan repayment sinks in. Loans can feel very overwhelming, so having a plan on how to tackle them is crucial in setting yourself up for financial success.
HOW TO MANAGE YOUR MONEY WHILE IN SCHOOL
Going to college or university is an exciting new venture. For many young adults, this means living on their own for the first time, making new friends and maybe learning to balance school and a part-time job for the first time. With a number of new responsibilities to worry about, managing one’s finances might not seem possible on such a tight budget. But by planning ahead, you can avoid running into financial setbacks down the road and set yourself up for financial success in the future. So why not start now?
TAKING CONTROL OF YOUR FINANCES POST-GRAD
As a recent graduate, you likely have your first job and are making more money than before. This life transition also brings new major goals, such as getting your first car, finding a new apartment, taking the next step with a partner and planning a future together. With a host of new priorities and responsibilities, having a plan on how to handle your finances is important. Financial planning might seem challenging, but there are many opportunities to set yourself up for success.
ACHIEVING FINANCIAL EMPOWERMENT: 4 TIPS TO GET OUT OF DEBT
Thirty-eight percent of Canadians say money is the number one source of stress in their lives and debt is a debilitating financial topic over which people feel they have little control. Many individuals struggling with debt say it affects their physical and emotional quality of life. If this resonates with you, this guide is here to help you take back control.
HOW TO GET WOMEN ON A LEVEL PLAYING FIELD WITH MONEY
We had the opportunity to sit down with Kim Boudreau, Certified Financial Planner at YNCU, to discuss how financial professionals can help women become more financially independent and access the same financial literacy opportunities as men. Kim shares her knowledge about the history of women and money, why women are not on the same playing field as men, and what can be done about it.
HOW TO BE AN ALLY TO PROMOTE FINANCIAL EQUALITY
We had the opportunity to speak with YNCU’s Systems Administrator, Rabo Oshobe, about how members and financial professionals can take direct action. Rabo shares his expertise and helps us understand how to better address financial inequality, promote access to resources and improve financial literacy.
HOW TO ACHIEVE YOUR FINANCIAL NEW YEAR'S RESOLUTIONS
Getting in shape, eating healthier, and breaking bad habits. They’re all popular new year’s resolutions. But this year, thanks to the ongoing COVID-19 pandemic, improving our financial health is climbing closer to the top of the list.
HOW TO BUILD A BETTER BUDGET
The start of the year has us all googling ways to improve our money management, determined to start the year out right. Budgeting may seem overwhelming for the uninitiated or restrictive to those who've tried before and failed, but there's no better time to start over and rethink budgeting for your lifestyle.
HOW YOU CAN SAVE MONEY DURING THE HOLIDAYS
They call it the most wonderful time of the year for a reason! The holidays are for reconnecting with loved ones, celebrating the beauty of the season and gathering to enjoy holiday treats. However, when it comes to gift giving and other holiday-related expenses, the holidays can be a major source of financial stress for some.
2024 Your Neighbourhood Credit Union Limited. All rights reserved.
Your Neighbourhood Credit Union (YNCU) is a licensed credit union operating in, and under the laws of, the province of Ontario. Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA) .
