Making the Most Out of an Insurance Payout for Young Families

Katie and Tom, a young couple, recently got a payout from a critical illness insurance policy of $200,000. They want to know how to spend and where to invest this amount.
If you are like Katie and Tom, who want to improve your finances from an insurance payout, you can consider yourselves fortunate. This amount of money is ideal for boosting investment plans. Though there are many other factors to look at, here are some ways how you can prioritize.
First, you can pay off your debts, such as credit card…

A Guide to Tax Credits and Rebates for Homeowners

New Home Benefits
You can get the homebuyers’ tax credit if you just purchased a house and have not owned a house in the past 4 years. On line 369 of your tax form, fill it out with the amount of $5,000, and you will receive a 15% credit.
Tax Load Reduction of $750
Getting your house an ecoENERGRY assessment by a certified energy advisor before doing any renovation is recommended. The total costs before and after the audits can be about $1,000. However, this can be reimbursed from the provincial rebates.
Rebates of up to $500
Depending on where you live, cash in on rebates may have:

Things You Need to Know Before Renovating Your Home

Investing in a Key Lockbox
It is recommended to get a key lock box if the renovations are done before moving into the house and living somewhere far. For renovation projects that are too large or complicated, you will need to get a contractor. Contractors start working early, so for you not to rush in traffic early in the morning to let the contractors in, you can put a lockbox or any smart door device that will access people by using a code. This can save you a lot of time and effort.

Family-Friendly Places in Canada

The Nation, Ontario
Average Monthy Cost of Daycare: $868
Percentage of Families with Children: 46.7%
Percentage of Children under 15 years old: 20.9%
Russell, Ontario
Average Monthly Cost of Daycare: $1,109
Percentage of Families with Children: 50.7%
Percentage of Children under 15 years old: 20.6%
Ottawa, Ontario
Average Monthly Cost of Daycare: $1,109
Percentage of Families with Children: 44.9%
Percentage of Children under 15 years old: 17.7%
Lévis, Quebec
Average Monthly Cost of Daycare: $183
Percentage of Families with Children: …

Effective Strategies for First-Time Homebuyers

Getting a genuine pre-approval
Many homebuyers shop using a pre-approval provided by an online calculator. A genuine pre-approval is a process requiring great detail from a promising lender. The pre-approval will be based on the nature of the down payment, income,  credit score, among many other considerations. It is recommended to go into great detail with your lender to know if the property is right for you.
Determining the figures
Most likely, first-time homebuyers will make…

Self-Director Mistakes and How to Deal with Them

Not Trying to Restore the Correct Balance
To be able to be on the right risk tolerance path, you need to restore the balance of your portfolio. You can buy or trade assets with the correct value so that you can return to your previous allocation. Many self-directed investors fail in doing this. One way to deal with this is to have a portfolio management tool to automate some of the tasks, such as restoring balance.
Timing the market
When stocks drop, some investors’ initial action would be to have their money in cash and wait for the markets if they are going to rebound or drop. This can be a problem since …

How to Earn More During the COVID-19 Pandemic

Teaching English Classes Online
Due to the imposed quarantine and for safety reasons, many people are encouraged to stay home. Therefore, the demand for online jobs is increasing, and teaching English online is no exception. There are a lot of English teaching platforms online where you can teach children from different countries. This work usually requires holding a Bachelor’s degree, passing an English test, and having your computer and a decent internet connection. Every hour, you can earn $15 to $24 right inside your house.
Freelancing
Unfortunately, many companies had no choice but to lay off some of their …

Designing Hacks for Tiny Houses

Prioritizing Function
Since there is very limited space in a tiny house, the design can end up being disorganized. It can result in a lot of clutter if there are too many items in a small space. Worse, the design could be lost from this. By prioritizing function, it means that home essentials such as tables, sofas, and beds need not be aesthetic only but also functional.
Storage Creativity
Another challenge in designing a tiny house is having ample storage. Although you may have gotten rid of other things, you may still have many things you need. For tiny houses, installing closets and cabinets is not very easy. …