November 20 2012 by Ellen Roseman
As a fan of personal finance blogs, I get daily emails from many of my favourite bloggers. Today, I have links to their single best tips for Financial Literacy Month.
I have two tips: (1) Pay attention to all your bills and statements. Open them quickly and look for errors and overcharges. If you wait a few months to complain, you probably won’t get a full refund.
(2) Play a good defensive game. Remember when you learned to drive? Remember when the instructor told you to assume that all the other cars on the road were out to get you? That’s how you protect yourself as a consumer from corporate trickery.
Assume that every advertisement, sales pitch and promotion is designed to lure you in, giving only the benefits and none of the drawbacks. Realize that it’s your job to hunt down the missing information. Then, you’re less likely to get hooked.
Spend Smart, especially in college (The View From Here).
Take a sound framework to stock picking (Pat McKeough of The Successful Investor).
Think Critically! (Timeless Finance).
Donâ€™t fall into the credit card trap (Solutions Financial).
Donâ€™t spend more money than you have (Self-Help Happiness Blog).
Buy a basket of simple, low-cost ETFs (Sage Investors).
Spend Wisely (Rewards Cards Canada).
A five-pack of money tips (Retire Happy Blog).
When buying a home donâ€™t forget closing costs (ratehub.ca).
Pay yourself first (My Own Advisor).
Be connected to your finances (Money Smart Students).
Take a long-term view of your finances (Money Smarts Blog)
Be bad for the economy (MoneyMasterMom).
Pay down credit card debt and stay out of it (Money Crashers).
Donâ€™t expect your financial advisor to steer you clear of market downturns (Michael James on Money).
Maximize your TFSA (The Loonie Bin Blog).
Why â€˜how muchâ€™ should be your key insurance decision (Life Insurance Canada).
Plan ahead to get ahead (HowToSaveMoney.ca).
Shop for the cheapest drug dispensing fee (GroceryAlerts.ca)
Understand your spending patterns (Freeat33).
Budgeting is the key to financial success (Finance Fox).
Avoid Mutual Funds (The Dividend Pig).
Start investing now! (Dividend Ninja).
A five-pack of ideas to get you started (A Dawn Journal).
Pay off debt (Canadian Finance Blog).
Keep your investment plan simple (Canadian Couch Potato).
Buy a home you can comfortably afford (Canadian Capitalist).
Budget! (Canadian Budget Binder).
Track Your Spending With Quicken (Blunt Bean Counter).
Make more money (Boomer & Echo).
Get out of debt! (Blonde on a Budget).
Just do it! (Balance Junkie).
Avoid high-fee mutual funds. (Avrex Money)
Finally, Canadian Money Forum participants shared their single best tips here.
The right date: The access to justice panel at University of Toronto is Wed., Nov. 21. Here’s a link.