Plan

The newest retirement savings challenge is the thirty-something who still gets parental financial support. In a recent survey done for a financial planning organization, 13 per cent of parents with children 34 and older said their sons and daughters are financially dependent on them. Twelve per cent said their kids in this age bracket are causing a strain on them financially. How inconvenient – parents with thirtysomething children should be reaching peak retirement savings momentum.

Debt can weigh heavily on your shoulders and have major consequences on your financial well-being. Here are five strategies to get out of debt and back on track.

Puny income growth is a fixture in the Canadian economy, new census data show. Our economic reality is that prosperity comes not from a growing paycheque, but rather from the stuff you do with the pay you get. Three strategies to follow: Invest in your career; Invest in your wealth; Make one significant cut in your household spending.

People always seem to want to debate the validity of a budget. Second, only to insurance, budgets are the most misunderstood financial tool around.

Publicity

The goal of saving for retirement is to supplement the income you'll receive from government pension plans (like the Régie des rentes du Québec and the Canada Pension Plan) and private pension plans (former employers) to maintain your lifestyle after retirement.

It’s time we formally expanded the list of parental financial obligations to include saving for a child’s postsecondary education. The cost of university or college, even for children who stay in town, is too expensive to be covered by typical part-time and summer jobs. Student loans can make up the difference, but heavy reliance on them can result in debt that delay financial independence after graduation.

Try maintaining a travel budget when hidden fees and added charges dog you from the moment you book a trip until you get back home. Researching airfare, transit, accommodation, food and entertainment costs can pay off, but it means knowing what you're paying for.

You fell in love, dated and decided to get married. Congratulations! Now comes the fun of planning the wedding, as well as all the potential stressors and exorbitant costs that can accompany the magical day. But couples on a budget, take heart - the most romantic day of your life doesn't also have to be the most expensive.

Getting the kids ready for the school year may be a busy and expensive time for parents, but it can be a good opportunity to lead by example and teach your children a thing or two about budgeting and money management.

Publicity