MyMoneyCoach Blog

Wondering what’s the difference between a soft vs hard credit check in Canada? Put simply, a hard check affects your credit rating, but a soft check doesn’t. Also known as credit inquiries or credit pulls, these are a way for companies to see the info on your credit report. Of course, you can also check your own report. Read on to learn more about . . .

We all like to save money, but some tricks to save can actually cause costly money mistakes. You might have heard of this as being “penny wise pound foolish,” the origin of which comes from a quote in a 1600s book on melancholy. Having your efforts work against you can certainly feel discouraging! While there’s nothing wrong with counting pennies, seeing the big picture ensures . . .

Figuring out a single person grocery budget that’s good for your wallet and stomach can be tricky. While there are plenty of grocery shopping tips that work for any household, living alone has its own quirks. So how much should a single person budget for groceries? The average cost of food per month for one person in Canada used to range from $225-$250, but can be much higher now due to rising living costs. Here are . . .

Has a family member asked you for financial support? Think twice about an agreement to provide a loved one with money or to co-sign a loan for them. As much as you might care for that person and want them to succeed, you also . . .

How to Save $5,000 in One Year with a Budget Money Plan by Kevin Sun Want to save $5,000 in a year? That extra money in the bank could go towards your next big purchase, boost your savings or investments, or help you get rid of debt stress. However, actually saving...

3 Tips to Help Teenagers Learn Money Management Skills by Kevin Sun Learning money management skills will help teenagers be financially successful when they grow up. The Government of Canada highlighted this fact during the challenging coronavirus pandemic,...

New Mortgage Rules: Are They Really What They Seem? by Julie Jaggernath Wondering what Canada’s new mortgage rules mean in plain English? Understanding the stress test qualifying rate and other regulations is important when trying to buy a house – especially if you’re...

How to Save More Money When Social Media Makes You Want to Spend by Julie Jaggernath Worried that social media is making it hard to save more money each month? Managing our money is about more than simple financial decisions. Our emotions, thoughts and moods play a...

How to Use Back to School Shopping as a Lesson in Financial Literacy for Your Kids by Julie Jaggernath Teaching financial literacy to your kids can be hard when they have few or no financial responsibilities of their own. But like us, children learn best by doing –...