Money 101: Every Canadian’s guide to personal finance

Money 101 Book

Money 101 helps you master personal finance without pain, whether you’re a novice or experienced.

Ellen Roseman offers easy-to-understand advice on a wide range of topics, including tips on spending less and saving more, managing a budget, negotiating mortgages and car leases, getting the insurance you need, investing, saving for children’s education and your own retirement, and much more.

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Comments and Reviews

“Finally! A comprehensive, common-sense look at not only how to invest your money, but, more importantly, how to save it in the first place. Outstanding!”
David Chilton, Author of The Wealthy Barber

“All the financial basics you need, from one of Canada’s most respected money writers. One of the best investments you’ll ever make.”
Gordon Pape, Author of 6 Steps to $1 Million and Retiring Wealthy in the 21st Century

“The Swiss Army Knife of financial books. There’s savvy, practical advice here on everything from the best deals on banking to finding a financial adviser. Read it and be instantly smarter about personal finance.”
Rob Carrick, The Globe and Mail, and Author of The Online Investor’s Companion


Money 101 Table of Contents

Introduction

Part One:
Getting Started Keep track of your spending Find areas where you can cut back Seven easy ways to save money Get the best deal on banking Save money with online banking Consider joining a credit union Take care when using debit cards Know how your savings are protected Put your savings to work Set aside money for emergencies Protect yourself with life and disability insurance Top up your health insurance Insure your home and belongings Protect your car against theft and accidents Keep in touch with your auto insurer Be cautious about buying extended warranties

Part Two:
Borrowing Money Shop around for a mortgage An RRSP loan can cut mortgage costs Are you pre-qualified or pre-approved? Save money on your car loans Check out zero per cent financing Don’t think car leasing is cheaper Watch out for car lease penalties Don’t carry a balance on credit cards Pick the right card for your needs Find out how interest is calculated Check out the benefits of premium cards Preserve you good credit rating Check out your credit report Protect yourself from identity theft

Part Three:
Saving for Retirement Deal with debt before saving for retirement Don’t count on early retirement Maybe you’ll never retire Get to know your retirement benefits Find out how your company pension works Top up your pensions with an RRSP It’s never too late to start an RRSP Build a nest egg outside an RRSP Your home is not your retirement plan Find a good financial adviser Do you want to pay for advice? Beware of free investment seminars

Part Four:
Investing Money Get a handle on your emotions with investing Put your investments on autopilot Buy stocks with dividend reinvestment plans Buy stocks as an inflation hedge Test drive your broker before signing up A few things to ask your broker Buy bonds for income and stability How to pick mutual funds How many funds do you need? How to save money buying funds Look at low-cost index funds Beware of the year-end surprise Wrap accounts can be costly Surf your way to investment knowledge

Part Five:
Financial Planning Practise safe income splitting Get Ottawa to subsidize your kids’ education Questions to ask about RESPs Look at in-trust accounts for kids Life insurance can be used for education Search for scholarships and bursaries Think of marriage as a business partnership Understand obligations of common-law partners New rights for same-sex partners How to share assets after divorce Ending fights about child support Preserving financial health for widows Dealing with a terminal illness Write a will for family harmony How to cut probate taxes How to cut estate taxes Don’t forget a power of attorney Read a good estate planning book Now get going!

Index