Wednesday, January 26, 2011

January Mini-Makeover: This Simple Trick Could Have You Debt Free Years Sooner - AOL's WalletPop Canada

It's nearing the end of the month and you've either received your credit card statement from Christmas or the dreaded mail is about to arrive. Have you taken a deep breath and braved opening the envelope, or are you resigned to letting it collect dust for now and deal with it later?

If you have the courage to open your credit card statement up, you'll notice something new - a measure the government forced companies to report a few months ago. And, if you carry a balance on your card, it might be a scary number to look at. There's a little box either on the side or back of your statement that now has to tell you how long it will take for you to pay off your credit card balance if you only make the minimum payment. This month's mini money make-over features Jeffrey, who's looking at a whopping 134 years and 7 months to pay off his credit card. Yes, you read that right. He's currently 37 years old, and if he doesn't learn a simple trick to financial freedom, his debt will outlive him by decades.Here's Jeffrey's deal:

Read the full article here:

Tuesday, January 25, 2011

Should condo-dwellers shell out for a car? Globe & Mail's Cash Clash

Max, 37, and Rachel, 30, Toronto

Should these downtown condo-dwellers get a car? He thinks so – mainly for their frequent trips to visit family in Quebec, and to golf and ski. She thinks not, preferring to funnel the extra cash into their coming wedding and savings – and take the train. As they get ready to walk down the aisle, can they settle this spat before their engines get too revved? (*Their names have been changed.)

To read the entire article and my advice, click here:

Friday, January 21, 2011

Want More Money this Year? Try These 5 Easy Steps - AOLs WalletPop Canada

Kelley Keehn
Jan 21st 2011 at 12:30PM

We're well into the new year now and if you haven't scrapped all of your resolutions by now, I hope being smarter with your money is one you'll aspire to all year long. Try these simple ideas for financial success.

Step #1: Know what your time is worth. I have a very successful friend that owns several businesses. I've watched him drive all over town for "cheap" gas when it goes on sale, stand in long lines to save a few bucks and spend way too much time clipping coupons. I figured out that he earns over $200 a working hour, yet, he'll waste time saving a fraction of that amount. Another girlfriend of mine earns $65 a working hour, and has very little time to spend with her family of five. Yet, she'll continue to spend several hours a week cleaning her house instead of hiring a housekeeper for $15-25 an hour.

Read the full article here:

Wednesday, January 19, 2011

Save for retirement or an RESP? - Globe & Mail's Cash Clash

Steve and Jane, 51, Halifax

With three kids in high school, the eldest graduating this spring, this couple are bracing for the onslaught of university tuition bills. He argues they’ve already got a well-fattened registered education savings plan, and they should start focusing on their retirement. She worries about the rising cost of education, and wants to make sure they’ve saved enough to cover all three offspring. Who’s head of the class?

To read the entire article and my advice, click here:

Monday, January 17, 2011

Are You Intelligently Frugal or Just a Cheapskate? Take This Quiz if You Dare! - AOL's WalletPop Canada

Kelley Keehn
Jan 17th 2011 at 9:00AM

The past couple of years have been tough on many Canadians and for a brief period of time, frugality was the financial buzz word. I'd like to add the adjective "intelligent" preceding frugality (being smart with your money) as a trend I hope will stay.

But then there are those individuals, you know the ones (maybe intimately), that are just plain cheap.

Take this test to find out if you're fantastically frugal, penny-wise and pound-foolish or a killjoy miser.

Question #1: Have you ever been out with friends for dinner and excused yourself just as the bill came to avoid chipping in?

A: Never; I can't stand people that do that
B: I'll be honest – I've thought about it
C: Yes, and I can't count how many times (is that wrong?)

Question #2: The last time the Girl Guides or Boy Scouts came to your door fundraising, you:

A: Bought one of what they were offering
B: Told them you bought at the office
C: Shut the blinds and turned off the lights when you saw them coming

Read my full article here:

Friday, January 14, 2011

Financial tips for a sound New Year - with CBC's Peter Brown

Looking to start off 2011 on the right financial track? Kelley Keehn stops by with some tips for the new year.

Listen to my interview with Peter Brown here:

Monday, January 10, 2011

Is Your Credit Card a Major One? If Not, You Might Be Hungry and Thirsty on Your Next Flight - AOL's WalletPop Canada

Kelley Keehn
Jan 10th 2011 at 5:00PM

You have a credit card, right? But, is it a major credit card?

You might ask why you need to care, but if you plan on flying this year (amongst other travel necessities), you may be out of luck - for example, purchasing on board food and drinks.

Sure, you can still get the free basic beverage and salty snack, but since last year, both WestJet and Air Canada will only accept major credit cards on board. Cash apparently, is no longer king!

Read the full article here:

Thursday, January 6, 2011

Why Budgets Don't Work - AOL's WalletPop Canada

Kelley Keehn
Jan 5th 2011 at 11:30PM

I hate budgets because they rarely work. I know, not what you'd expect from a financial expert. But think about this: if your family spends say $800 a month on food and dining out, but a "budget" dictates that you only spend $450 a month based on your household income, that's a tough cut and one that's going to sting. Just like a yo-yo diet, a financial cutback has to be realistic to last long-term.
This year, declare that you'll start with awareness and then move to choice. Start with counting your financial calories.

I think health and wealth are closely linked and are two aspects of our lives that deserve the utmost attention.
Read the full article here:

Wednesday, January 5, 2011

Globe & Mail's Cash Clash - She wants to save more than he does

Marissa, 23, and Ryan, 24, Kitchener-Waterloo

This ambitious young couple are already homeowners, in an age when many of their peers are boomeranging back into Mom and Dad’s basement. Their dilemma: How much should they save for emergencies? She says a lot, but he says a little (and invest the rest). If disaster strikes, which strategy will keep them afloat?

Read the full article and my advice here:

Tuesday, January 4, 2011

Seven tips for a financially prepared new year -Globe and Mail

Financial expert Kelley Keehn recommends you get a free credit report at least twice a year from Equifax or TransUnion. “Even if you're not concerned about ...

Read the full article here: