With steep home prices, strict mortgage regulations and a high cost of living, today’s first-time home buyers face a major financial challenge. It’s no wonder so many turn to their parents for assistance.

Making arrangements for your own funeral may not be the most pleasant of tasks, but think of the consequences if you don’t make plans. Without knowing your preferences, your estate administrator and family members will have to make difficult and sudden decisions while they’re grieving—hopefully without disagreements.

Having a baby is a beautiful and completely new experience, as you care for your newborn around the clock. You may never have felt so much responsibility.

A recent report lists Canada as having the highest percentage of couples without children among all developed nations.¹ Financial life is different for this demographic group, with unique issues and opportunities.

When one spouse is primarily a saver and the other a spender, you may think it spells trouble—but that’s not necessarily so. If the couple takes the proper steps and collaborates, they can arrive at a healthy middle ground.

Most people are familiar with the term “executor”¹ and generally understand it refers to a person responsible for administering a deceased individual’s estate. While that definition is accurate, it is so broad it offers little insight into what the role actually involves.

The more money you make, the more money you spend. That may seem perfectly sensible, but what if you spend all of the extra money you make? Now you’ve enhanced your lifestyle, but you’re no further ahead in achieving your financial goals.

If an individual loses the ability to manage their financial affairs, some people believe the spouse can simply take over. However, that’s only permitted if the spouse was named in a power of attorney document (mandate in Quebec).

If you receive a lump sum of any amount, whether an annual bonus or an inheritance, are you better off investing it all at once or gradually?

The answer isn’t the same for everyone because personal factors matter as much as analyzing the markets.

When it comes to giving an allowance—or not giving an allowance—there are no hard-and-fast rules to follow. Different parents have different approaches, and the only right way is what’s right for you.