Author: MoneyMaven

However, the process may not be as simple as transferring securities between two Canadian financial institutions. It may take longer across the border, and there may or may not be a tax advantage. MoneySense’s ETF Screener Tool Tax implications of transferring investments If your primary reason for transferring your investments, Meranda, is to defer tax,…

Image Source: Pexels If you’ve tried to have a no-spend month or year in the past, you may have quickly given up on your goals. It’s easy to not be realistic with our financial goals when we are trying to decrease spending in the upcoming year. Around 20% of Gen Zers and Millennials attempt to…

Image Source: 123rf.com Something I want to do in 2025 is to spend more time with my friends. Now that we are all married with kids, it’s hard to find time to hang out. So, we have considered planning a trip together. Planning a guys’ trip can be a little overwhelming. You want to choose…

Should you pay off student loans or invest your money? With student loan repayment resuming for Americans, this is the question many are asking – especially if they saved up their paused payments. But even for those just starting to repay student loans – should you pay more than the minimum payment, or should you…

The technique of voiding checks has a fascinating history that explains our current best practices. Writing “VOID” became standard in the 1950s after numerous check fraud cases where canceled checks were altered and reused. Banks and government regulators agreed on this standardized method to protect both financial institutions and consumers from check tampering. All you…

TommyStockProject / Shutterstock.com When you throw away groceries you never used, you’re doing more than wasting food. You’re throwing money in the trash. Now, we aren’t saying this to shame you into eating something you don’t want. We’re here to tell you that you can save yourself from hemorrhaging cash by using something you likely…

With 2024 almost done, I’d like to share my year in review. For the vast majority of investors, this was a banner year, with the S&P 500 up ~24% and real estate prices in most of the country continuing to inch higher despite high mortgage rates. Bitcoin investors, gold investors, and venture capital investors have…

Insurance salespeople count on your fears about the future. However, while some insurance is essential (like homeowner’s insurance), life insurance is necessary only when someone genuinely depends on your income. If you’re young and single, you’re better off investing that money elsewhere. Even if you need coverage, remember that insurance is for protection, not profit.…

The SEP IRA allows you to contribute up to 25% of your compensation, or $69,000 in 2024 and $70,000 in 2025. Remember, you can contribute to your SEP IRA all the way up until the tax deadline – April 15. Whether you’re a side hustler or a full-time entrepreneur, a SEP IRA or Simplified Employee…

Think of your side job as a small business from day one. Basic accounting software like QuickBooks or Xero, typically costing $25-50 monthly, will help track income and expenses and prove invaluable during tax season. Pair these with time-tracking tools like Toggl or Clockify to ensure accurate billing and understand your true hourly earnings. You…