Car Insurance: Can I even afford you anymore?

Oct 23 2014 - Saving

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I know exactly what it feels like to fork over 50% of your pay cheque to one thing every single month – and I’m not talking mortgage or rent. That’s what car insurance was like for me. Was I the greatest driver? No, and I’ll be the first to admit that, but the industry wasn’t so much in my favour at the time. Car insurance is definitely not the cheapest thing going for Gen Y’s out there. I recently read an article in the Globe and Mail about the state of car insurance affordability for Millennials these days. It struck me how soaring premiums have nearly priced out Gen Y from the market these days. Nonetheless there are still practical ways to make car insurance affordable.

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Happy One Year to Money On Trees

Oct 16 2014 - Announcements, Saving

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It’s hard to believe one year has already flown by. We’re excited to be a great resource for our community – no matter what age or stage in life. I must say, it’s definitely a great time to celebrate all that we’ve been able to accomplish over the past 365 days. Along with the variety of blogs we post every week, we’ve also had the privilege to present financial literacy seminars to many young adults from various schools, conferences and events in our communities.

We have been fortunate enough to bring Money on Trees seminars to different events within our communities this past year, and we look forward to seeing you at more events.

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Forking it over: Canada’s Highest Tuitions

Oct 2 2014 - School

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Let’s be honest – Getting a post secondary degree can be a pretty costly decision. If you’re like me, balancing a serving tray on weekends at a local café pinching the tips I’d earned was my way of “paying for school”. In my spare time, I’d be applying for numerous scholarships and bursaries in hopes that one might slash some dollars off my tuition. Eventually, I paid it off. It wasn’t easy, and it’s not getting any easier it seems.

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Identity Theft: Are You Leaving a Paper Trail?

Sep 25 2014 - School, Your rights

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The start of the school year means many things – tuition payments, reuniting with friends, textbook shopping and a lot of paperwork. From registering for your student card to wrangling your OSAP applications, before you know it your backpack is full of paper.

So, how can a piece of paper be more valuable than your expensive new laptop, smartphone or engineering textbook? Because in the wrong hands, the right piece of paper can lead to identity theft, potentially costing you more in the future.

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Ten More Ways to Save During School

Sep 18 2014 - Saving, School

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I’ve racked my brain and tried to remember some of the ways I saved when I was in school and thought I would share them with you. Also be sure to check out our posts on budgeting, textbooks and more here. Got your own money-saving tips? Feel free to share in the comments.

 

1. Share everything.

Taking a class with a friend? Consider sharing the textbook. Want to order pizza – see who will chip in. Driving home for the holidays? Make room in the backseat and score a little gas money. All it takes is a quick Facebook status update or a text and you could be on your way to a less expensive school year.

2. Beg, Borrow and Buy Used

Buy used whenever you can – from textbooks to dishes, clothing to couches, spending less on all these items can save you major money. When you’re on a time crunch, it may seem easier to buy brand-new instead of comparison shopping but a month from now would you rather have a brand new textbook or an extra $50+ in your pocket?

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Millennials: Low Paycheques Don’t Have to Hurt High Hopes

Sep 11 2014 - Saving, Work

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As a young professional, you may get little empathy when your expected salary is unexpectedly small. You may have heard from that “you need to work your way up” or just “be grateful for what you have” however, your small paycheque may result in older generations feeling the pinch too.

An article in the Globe and Mail confirms that you are probably making less money than predicted – the average annual salary for grads is not keeping up with inflation and in some cases has declined. Salaries for graduates six months out of school “went from $41,699 in 2006 to just $42,636 in 2011”. Even more intimidating, is that two years post-grad, “the average declined from $49,468 in 2006 to $49,398 in 2011”. The numbers don’t lie – it can be tough out there. But you have to start somewhere and generations before us have had to start at the bottom and work up the ladder as well. It’s a fact.

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