7 Questions For Prioritizing Your Finances

What is it that is important to you?   What are the relationships, the interests and goals that bring you joy?   These elements, when placed at the center of a financial plan, can have a profound impact on one’s motivation to participate in financial conversation, decision making, and investing.  When we can articulate what matters most, suddenly there is purpose in why we spend, save, invest, and protect.  When we have purpose, we are far more likely...

Why Plan Single?

For those who are single today, they are most likely already planning for their current single state.  That is an advantage.  You see, they are already planning to overcome the financial challenges that are the realities of being single.  One person to earn an income, one person to pay the bills, the mortgage, and to save.   One person who may or may not have a pension in retirement.   One set of government benefits.  Financially, they are...

Willful Neglect

“If you die without signing your will in this country, you leave chaos behind you. The lack of clarity intensifies bereavement and pitches family members into a cauldron of legal dictates. Bank accounts are frozen, cards unusable, cash inaccessible. If your partner dies intestate, it makes normal life almost impossible to retrieve….”   Danae Brook Danae Brook is a widow whose husband died without a will.  And while she is referencing the laws of the United Kingdom,...

There’s No Rush

Do you know the feeling of being overwhelmed?  So many things to do, so many choices – should I do this, or perhaps that would be better?   Many times, it is during times of uncertainty, of change, that we can become overwhelmed.   And it is preciously in times like this, that people are at risk of making regrettable decisions that can lead to the loss of money, relationships and even future possibilities.  That is why it...

Portion Control – The tricky matter of who owns what

“Portion” – it might just be the most important word when it comes to money matters.  Especially to the topic of how couples should organize financial ownership.  I’m often asked things like, should all our accounts be joint?  The subject of joint accounts is always a hot topic in focus groups and interviews I conduct.  Always single, single again, partnered, it doesn’t matter, everyone has an opinion.  Some advocate for merging everything, others have strong opinions...

Participation Enables Women’s Financial Security

Merriam-Webster’s dictionary defines financially secure as “having enough money to live on and not having to worry about money.”   Financial security is based in confidence.   Confidence that our cash flow (earned or from investment) will be for your lifetime sufficient to maintain a comfortable lifestyle, regardless of how your life may change, is essential to financial security.   Confidence that any debt is manageable and on track to being paid off.  Having confidence in our ability to...

Presentation to the Richmond Hill Public Library: Financial Literacy Book Talk

Set yourself up for financial success. In this video, you’ll see a presentation from Leslie McCormick, author of Bank on Yourself – Why Every Woman Should Plan Financially to be Single, Even if She’s Not. Excerpt: My first interview related to the book Bank On Yourself: Why Every Woman Should Plan Financially To Be Single Even if She’s Not was with a personal finance columnist with a leading national newspaper. The question he asked was don’t...

You Me & We – The search for good advice

My husband and I both love and dread home renovations.   We have lived through multiple renovations.. literally lived in the house through them.   I even have a picture of our daughter when she was just 9 months old crawling around on a subfloor with power tools (not plugged in) nearby.   The dust, the noise, the disruption.  And we can handle all that just fine.   What we dread is picking the finishings.  He doesn’t like the colours...

Keeping Your World Big

I was speaking with a neighbour recently.   She and her husband retired within the past few years and they are looking forward to winter this year with apprehension.   Usually, they would participate in some social winter sports.   But, due to COVID, where they usually play their sport of choice has canceled its season.   Usually, they would be preparing to go on a trip right about now, and then go away again at the end of January.  ...

Plan Single Retirement Challenges

Whether you are single for your entire retirement, or for part of your retirement, there are several challenges that the financially single woman faces as a result of being single.  With proper consideration and some advanced planning, these challenges can be mitigated, and even overcome. Solo Decision Making:  On the plus side, you largely can make decisions to please yourself and your needs.   You don’t need to compromise with someone else about things like, where you...

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