Finances - Additional ways to increase your finance or make money by Kaitlyn Arnold https://padlet.com/kaitlynfunnybunny/237rq3wd39v6 Money Matters assignment #2, Kaitlyn Arnold 100654123 en-us 2019-03-29 17:08:29 UTC 2025-11-26 06:05:55 UTC hello@padlet.com Topic introduction kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346654645 Finance is the management of money. This factors in activities like investing, borrowing, lending, budgeting, saving and forecasting. The three main types of finance are personal, corporate and public/government. On this page we will be looking over ways to increase finances and make money specifically focusing on personal finance. 

Personal finance refers to how you manage your money. This includes things such as income, expenses and savings. Putting in the effort to mange your personal finances you want to have a basic understanding of where exactly your money is going and the changes needed to meet financial goals, and in this case increase finances. 

 
]]> 2019-03-29 17:48:24 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346654645 Website/Article #1 What Is Personal Finance? kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346662183 This article goes over the basics to vastly benefit your personal savings. It goes over the main factors in increasing your cash flow and the necessary steps that must be taken.

-Setting your goals: Choosing aspects in your life that are most important to you and prioritizing them. Prioritize the basic such as food, clothing, shelter but also prioritize something that excites you or is also important to you (tuition for college or a family vacation)

-Creating a Personal Financial Plan: Planning is advance makes it easily to attain your goals because you have an idea of how much of your income you are going to spend and save. 

-Start Planning Now: Now planning specifically towards your goals, create a plan that helps you keep track and spend/save accordingly. 

-Personal Finance Tracking: Now you must follow and monitor your income and spending to make sure you are staying on track and following the finical principals you’ve decided are most important to you. This article suggests considering financial software like ‘Quicken’ to manage different account and let you know how your doing. 

]]> 2019-03-29 18:07:24 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346662183 Image #1 kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346670883 https://www.diy-personalfinance.com/personal-finance-advice.html

I chose this image because if gives a good visual representation on the steps you must make when financial planning in order to create more cashflow. This image suggests that a good idea is to prepare a dream map (goals) and order your goals accordingly to prices/dates. You then organize and prioritize, this is self explanatory. Then determine your monthly savings for investments. From here you can begin to prepare and execute your new plan. I like this image because I find that charts/graphs and other visuals make it an easier way to simply the process.]]> 2019-03-29 18:31:14 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346670883 Image #2 kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346673928 http://www.wealthcorp.net.au/determine-your-retirement-goals/

I chose this image to shed some light on what finical freedom is. In most cases people speak an increase in finances for many reasons. To be struggling finically is a huge burden and all people often seek to feel more 'free' financially, it carries like a weight on our shoulders. This image gives a brain storming example of the many categories that factor into financial freedom and the goals that different people set for themselves. These all overall increase cashflow particularly (Saving money, planning, money management, eliminating dept and reducing expenses) ]]> 2019-03-29 18:40:58 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346673928 Image #3 kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346681554 https://www.cartoonstock.com/directory/f/financial.asp

I chose this comic strip for my third image because I think it interrupts in a funny way how different people prioritize there income and it makes you think about the possible outcomes of actions taken place. In order to increase funds you obviously must take strategic steps into planning towards investing and saving. There are people who who invest into mutual funds and equities that comprise of multiple stocks to create diversified finical products which should generate profit over time. And then there are people who do not manage there spending and essential you could say 'throw away' money such as buying things like lottery, gambling, alcohol and other things.]]> 2019-03-29 19:06:38 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346681554 Video #1 kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346841643 I chose this video because it gives you a good description and lots of helpful information about savings and investing. A good way to increase cash-flow is to obviously save up your money and you can also look into investments. Before you invest though you should always try to read up and have a good understanding of what exactly it is.
When talking about savings this video tells you why you should save, how to set goals, the four steps to savings and how to increase your savings, It states that in order to properly save money you should be trying to save at least 10% of your yearly income.
When talking about investments it states that you first need to know how much you are willing to risk. Investing is not a 100% money making guarantee so you should also be very carful when picking what you would like to invest in.
The four types of investments are ones that pay interest (such as savings accounts, savings bonds and guaranteed investment certificates), Shares in a company (such as stocks and mutual funds), Property and direct investment in a business.
This video also tells you three most important things to know before investing and that is knowing yourself, know your investment and lastly know your financial advisor (if you have one).]]> 2019-03-31 01:52:29 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346841643 Video #2 kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346842352 I chose this video because it discusses a poplar topic of interest rates and how people are finding it is hurting them financially. This is very relevant to the topic of increasing finances because many different savings accounts, credit cards and other things come a long with interest rates. The video states how the rates are sky rocketing here in Canada thus causing the rise of bankruptcies. The government of Canada is highly aware of this and that the average person is carrying a high dept loan.The central bank says that interest rates WILL continue to rise until it reaches a neutral level once the economy stabilizes, this meaning that bankruptcy filings will also continue to rise.]]> 2019-03-31 02:04:53 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346842352 Video #3 kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346846309 I chose this as my third video because I thought it was very relevant towards the topic of this assignment. We are almost finished winter and it can really take a tole on us financially. Global news discusses with Kelley Keehn (personal financial advisor) about how to combat with the post holiday financial blues. An interesting statistic stated in this video is that %50 of Canadians are $200 from not being able to pay their bills. This is a scary thought, but it is now time to seek help. I really liked how in order to simply the concept of budgeting is they compare it losing weight. They proceed to explain how picture tracking your spendings the same way as 'tracking calories', start to notice patterns and seek after professional help if you believe it is truly needed. I think this a great perspective for people to think about if they get easily overwhelmed by the thought of finical planning. Some other little tips they give is that it is okay to spend on yourself (if you have budgeted accordingly) and when doing so make sure to savour it. Don't buy things immediately, try to put more thoughts into your purchases.]]> 2019-03-31 03:18:26 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346846309 Video #4 kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346847380 This video explains how millennial can make the most out of RRSP's and TFSA's. Something we have discussed breifly about is the concept of investing. Investing is a great way to make money and people who are interested in increasing there income should consider taking the time to look more into how to make the most of these two specific investments (RRSP's and TFSA's). If you are a millennial and struggling to save up for the future (retirement specifically) you should consider dividing your savings into two different sectors (Short Term savings and Long term savings) retirement would be considered a long term saving (money you will not touch). The video states that if you are beginning to save in your 20's you should be putting %10 of your income towards retirement. TFSA is a great way to save up your money, especially if you are not sure of your time horizon it offers you more flexibility. Opening up an RRSP is a great idea as well because it can lower your tax bracket. ]]> 2019-03-31 03:39:15 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346847380 Website Article #2 kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346848491 This article is great because it tells you 60+ ways to make money online and from home. I large pattern throughout this assignment is talking about proper budgeting and tips of how to save money and lots of information on investing. I thought it would be necessary to include at least some information on easy ways to make money and give out different ideas that people can use towards making more. This article offers many different ideas that could be considered a lot easier than investing and learning to save. There are so many different opportunities available to people that they just don't know about. Some of my favourite ideas this website offered are to start an online business and to take surveys. These are easy and convenient ways to make money from home. The article offers many different survey websites that offer you immediate pay up for people quick cash needs. Also starting an online business is a great way to make money because you can do almost anything on the internet that caters to you as an individual. An example of this would be have an english degree? Have a talent? Have some clutter you need to get rid of? You can make money off almost any of these, proof read articles, freelance write, sell your pantings and belongings that you don't care about anymore. The point is that the internet is an entirely different world and there is endless opportunity for everyone on it. ]]> 2019-03-31 04:00:52 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346848491 Article #3 kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346850581 This article discusses how much money does the average Canadian house hold spend each year. This is a very relevant topic because we have been discussing a lot about savings and tracking our spendings. Taking a look at the bigger picture and looking at what the average spending are around Canada is a good way to open some eyes on specific spendings.
In 2016 the average household spent $67k a year, compared the average of $24k in 2010. This means there is an increase of %2.4, but why? Taking an even deeper look it is discovered that Ontario and Alberta household are the highest spending provinces in all of Canada. So what exactly are Canadians spending money on? It is stated through various visual aids to explain the percent in which households in each province are spending there income on. A point that can explain the reasoning behind Ontario spending so much can be that housing and shelter is +13% higher than the national average and education is +34% higher. The article also factors in different housing incomes and spending according to income levels. Over all the article explains that households that have a higher income are not afraid to spend it, but this also means there is more room for monitoring spendings and tracking where your money goes. ]]> 2019-03-31 04:24:33 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346850581 Article #4 kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346851112 This article is another one that lists off some great tips for making more money. Some simple yet effective ways to help increase cashflow can be things as easy as clearing out your closets and getting rid of clutter and selling it. It also lists off some other helpful tips like renting out your home and turning a pastime into a passion. Now days there are tons of websites offered where people can rent out there home for short periods of time (Like air B&B) you can rent out a room and charge up $100 a night. Also if you have an empty basement in your home why not rent it out, this rent can go towards your homes mortgage thus saving you more money in the long run. Also considering making money of your passions, if you like to paint or cook don't be scared to go out of your to teach a class or even sell your work you've done. You would be surprised at the positive outcome to come from it.]]> 2019-03-31 04:34:46 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346851112 kaitlynfunnybunny https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346852500 2019-03-31 05:00:29 UTC https://padlet.com/kaitlynfunnybunny/237rq3wd39v6/wish/346852500