We need to learn how to simplify our lives and ask for help
It’s not uncommon to feel completely overwhelmed by things, and to wish that life were simpler and less stressful. Do you feel like you never get around to all the things you’d like to do?
Dealing with life’s countless demands is a constant challenge for many people who can’t ﬁnd the time or the means to balance their work obligations with their family and social activities. A lot of the time, it’s certain beliefs that prevent them from ﬁnding the desired balance. The most common belief is that the situation is only temporary, and that “as soon as this project is ﬁnished, I’ll have more time for my family and friends.” This belief may be sincere, but most of the time, it’s not realistic. Read more
As baby boomers approach retirement while their children look for financial help, many are feeling the financial strain.
A new TD survey found 62 per cent of boomers can’t save enough for retirement because they’re supporting adult children or grandchildren. Those kids, however, aren’t taking that money obliviously: 44 per cent of millennials who rely on their parents’ or grandparents’ support said they know that help means fewer retirement savings, and 43 per cent said they’d cut costs rather than asking for financial help.
Read: Canadians postpone retirement to support children
“As a parent or grandparent it’s natural to want to help our kids and grandkids who may be facing financial challenges such as finding full-time employment or paying their day-to-day expenses,” Rowena Chan, senior vice-president at TD Wealth Financial Planning, said in a news release. “It’s important that this desire to help is balanced with the goals you have when it comes to retirement.” Read more
By, Carla Hindman, Director of Financial Education, Visa Canada
Most people have at least one bad financial habit. Whether it’s impulse shopping, forgetting to pay bills on time or putting off building that emergency fund balancing what you want to do and what you “should” do is never easy.
You might recognize a few of these common bad financial habits in your life:
- Paying bills after the due date
- Paying only the minimum required on bills
- Ignoring bills and letting them go to collections
- Putting off saving for retirement or a rainy day
- Impulse shopping or “retail therapy”
- Not keeping track of how much debt you have
- Taking on debt to pay for something you don’t currently need.