May 19, 2012

You are here: Home / Archives for Finance

Financial Guides

March 22, 2011 By Leave a Comment
open book

Need help managing your money or paying off debt? Here are reviews on some books that might help.   A Happy Pocket Full of Money David Gikandi Xlibris Corporation, 2008 If you are ready to take a quantum leap into the attainment and enjoyment of great wealth, if you are willing to set your mind aside for awhile—and only if you are—then begin the journey David Gikandi has laid out in A Happy Pocket Full of Money. You’ll learn the true nature of yourself, of your world, and its objects—money included. You’ll learn how the universe operates and how best to interact with it. “Anything is possible” becomes more believable than before, as Gikandi unravels science to explain it all. Debt-Free Forever: Taking Control of Your Money and Your Life Gail Vaz-Oxlade Harper Collins, 2009 If absolving yourself of debt seems like an uphill marathon without a finish line, this personal finance book may be one investment with infinite personal and financial returns. Penned by Gail Vaz-Oxlade of the hit reality TV show Til Debt Do Us Part, this manual is for anyone seriously interested in conquering consumer debt. Vaz-Oxlade teaches how anyone can be free from consumer debt within three years by creating a plan of action and change. The Wealthy Barber: The Common Sense Guide to Successful Financial Planning David Chilton Financial Awareness Corp., 1989 This book motivates readers to take control of their personal … [Read more...]

Filed Under: Business Tagged With: , , , , ,

Money 101

March 1, 2011 By Leave a Comment
BIM_piggy_bank

Money.  It’s the root of all evil; money doesn’t grow on trees; and it takes money to make money are some common expressions that many people have grown up hearing.  It’s no wonder then that many people have a dysfunctional experience with money.  In fact many people confusedly believe that money is the end goal: money is a tool for us to use to attain our goals.  The purpose of money is to allow us to acquire the things that make us comfortable.  Nothing more.  Nothing less. Financial literacy is not a curriculum taught in most schools, not even in business schools.  Society teaches what it looks like, how to count it, and who has it.  What we don’t learn are simple money concepts.  A proportion of society considers these concepts common sense.  Those are the few who were able to learn from their families or environment.  Another proportion of society never take time, or lack an opportunity to learn some of these basics. The following is a list of basic items that we should all be cognizant of to keep a little more in our pockets. Negotiate, Negotiate, Negotiate Most people fear and avoid confrontations.  Unfortunately, negotiations are considered by many to be either confrontational, or the other extreme: begging.  Negotiations can be a powerful ally to you in your everyday life.  You would be surprised at how many things you could achieve simply by asking.  Anything can be negotiated, from credit card rates to store discounts—items that … [Read more...]

Filed Under: Finance Tagged With: , , , , , , ,

The Urban Financial Services Coalition: Changing the Face of Finance in Canada

January 11, 2011 By Leave a Comment
MR_Ft

According to Invest in Toronto, this city is Canada’s financial capital and North America’s third-largest financial services hub. Many Canadians aspire to a career in finance here; but non-white professionals have found an industry “glass ceiling” prevalent in the bank towers dominating the city skyline. The Urban Financial Services Coalition (UFSC), headquartered in Washington, District of Columbia, aims to assist in the professional development of minority financial services professionals. The former President of its Toronto chapter is Marlon Reid, MFin. A TD Securities Vice President, Mr. Reid also sits on the Visible Minority Committee of TD Bank Financial Group’s Diversity Leadership Council and co-chairs the Black Community Subcommittee. Black Ink Magazine: Why did you choose a career in finance? Marlon Reid: I didn’t choose the financial services industry, the industry chose me. I completed an undergraduate business degree [planning to attend] law school and practice criminal law. After my first year at law school, I discovered that I had no real passion or stomach for criminal law, but I excelled in my business law courses. [Ironically] . . . law school helped me rediscover the world of finance by seeing it through another lens. BIM: What are UFSC’s mission and values? MR: UFSC’s mission is to change the face of the financial services industry by being the link between business and the community. We are dedicated to the professional … [Read more...]

Filed Under: Community Tagged With: , ,

Dealing with Debt: A five-step plan to be debt-free in three years or less

April 27, 2010 By Leave a Comment
debt

If your employer tells you to expect a week’s delay for your next pay check, how will you respond? Will you find yourself panic-stricken, scrimmaging to rub two cents together to get by, or will you rest easy knowing you have a contingency plan—money saved in an emergency nest egg to see you through this minor financial setback? The Vanier Institute of the Family authored a report in early 2010 assessing the current financial state of Canadian families. It cited research that found 59 per cent of respondents stated “they would be in trouble if their pay check was delayed by even a week.” The study also revealed that Canadian families are “walking a financial high wire” with research from 2009 indicating several troubling trends. 2009 saw a 50 per cent increase in mortgages running 90 days or more in arrears compared to 2008. The number of credit card holders behind at least three months in their payments rose 40 per cent from 2008 to 2009. Also, household debt climbed to an astounding $96,100 in 2009, creating a debt-to-income ratio of 145 per cent, the highest it’s ever been according to the report. Along with the rest of the world, Canada is slowly recovering from one of the worst recessions experienced in a generation. Governments and corporations have begun to pick up the pieces and to lay out plans which will prevent repeats of some of their mistakes. But the “great recession” or “credit crisis” also brought to light the abysmal state of … [Read more...]

Filed Under: Finance Tagged With: , , , , , , , , , , , , , , , ,