It’s time we stopped viewing our wills as stagnant documents, completed once then filed away in a dusty safety deposit box until death. In reality, a will should be seen as a living, breathing file that must be periodically updated to reflect changes in our lives. Here are some situations where another look at your will might be necessary.

1.  A New Addition to the Family: Children need plenty of attention, especially when they are young. But it’s also important to prepare for the worst, says Dwayne Rettinger, an Executive Financial Consultant with IG Private Wealth Management. “What if you are unable to care for your child due to an illness or an accident?” he asks. “You must designate a guardian who is prepared to take custody of your children.” If you already have children who are named in your will, make sure the new addition is added to the will as a beneficiary, Rettinger adds.

2.  Common-law marriage: Living common law is much more frequent now, as well as being socially acceptable. Young couples in particular may choose this option, especially if they price out the cost of a wedding. However, in some Canadian jurisdictions, common law spouses don’t have the same rights as married ones. It’s unfair but your financial consultant can help you check the rules in your jurisdiction and structure your will and estate plan in a way that best reflects your intentions with respect to your partner.

3. Second marriage: Getting married again can complicate matters, especially if you have kids from your first marriage. You have to decide whether your new spouse deserves a share of your estate. And you’ll want to make sure that your children’s inheritances come directly from you. This is not a matter of trusting the new spouse, it’s an effort to make the transition as simple as possible.

4. Caring for the disabled: Special needs children will always require detailed attention in any will, says Dwayne Rettinger. “It’s possible you’ll need to support them for the rest of their lives, so make sure that fact is spelled out in your will,” he adds., “Think about the child’s long-term needs and act accordingly. In such cases, you might need a lawyer who specializes in such cases to cover all the bases.”

5. Have you moved recently?: If you have recently moved out of the country or even out of the province, you should consider re-drafting your will in the new jurisdiction, according to Edgar Chana Law in Toronto. “Each province in Canada has different laws governing estate succession, and planning techniques used in one province may not be valid or effective in another province. Moving to another country or acquiring assets in another country can also add complexity to your estate planning that would require revisiting your will.”

6. What Else has Changed?: Lawyer Michelle Kaminsky suggests going through your list of heirs, representatives, guardians, trustees or executors. Consider whether their circumstances have changed in some way. “For example, are they still of sound mind and capable of serving in the role you have designated? Have they passed away? These are definite reasons you may need to immediately update your will,” she says.

At the very least, experts suggest reviewing your will every five years to reflect any major changes in your financial and personal circumstances. More importantly, does it still reflect your wishes? Major life events should make you seriously reconsider the information in your current will. In any event, it’s always a good idea to have your financial advisor and your lawyer involved in the process of drawing up your updated will. Their expertise will help smooth over what can be a challenging process.

Disclosure: https://www.investorsgroup.com/en/legal/disclosures

What causes bad credit? Late payments, charge-offs, defaulting on loans, foreclosure and bankruptcies are some of the things that can ruin your credit. An unpaid judgment can also cause your credit score to drop to the point where even an easy personal loan isn’t so easy to get. Dealing with bad credit can be frustrating. Fortunately, there are ways that you can keep your credit score high.

How to Improve Your Credit Score

Check Your Credit Report

It is estimated that 20 percent of people have at least one error on their credit report. If you have a low score, then it may be due to errors on your credit score. That is why it is important to obtain a copy of your credit report. Keep in mind that you can get one free report each year. If you have errors, then you will need to report them to the credit bureaus as soon as possible.

Watch Your Credit Card Balances

A credit card can make or break your credit score. If you keep your credit card balances low, then you can increase your credit score. Paying on time can also boost your credit.

The optimal credit utilization percentage is 30 percent. This means that if your credit card limit is $1,500, then your balance should not be above $500. You can keep your balance low by making multiple payments throughout the months. If you are getting close to the 30 percent limit, then you can ask for a limit increase.

Leave Old Debt on Your Credit Report

Many people remove items that they have paid off from their credit report. However, it is a good idea for you to keep these items on your credit report. Keeping items that you have paid off on your report will help you add points to your credit score.

Pay Bills on Time

Your payment history is one of the main things that affect your credit score. In fact, it determines 35 percent of your credit score. That is why paying your bills on time is one of the best things that you can do for your credit score.

It is important to note that one missed payment can drop your credit score. If you have any missed payments, then you will need to pay them off as soon as possible. Ask your bill collectors to delete past-due accounts after you have paid them off.

Be Careful About Applying for New Credit

You can add points to your credit score by having multiple credit cards on your credit report. However, applying for too many credit cards at one time can cause your credit score can drop. Lenders may also consider this a risk. Many people apply for credit cards in order to supplement their income.

Bad credit is a problem that many people have due to things like late payments, past-due accounts, collection accounts and errors. However, there are ways that you can improve it. You will need to make sure that all credit errors are corrected. You will also need to keep your credit card balances low, pay bills on time and leave old debt on your credit report. Additionally, you will have to be careful about applying for new credit.

If you’re not adequately handling your finances, you may be stressed out and struggling to keep up with your bills. Although your problem may be due to the fact that you’re not earning as much as you need, some of it may be due to poor personal money management skills.

There are some basic personal finance management techniques that you can quickly learn to begin to feel confident about your ability to manage your finances. Let’s take a look at how to get money for a financial emergency, how to create a budget, and how to build awareness around money.

1. How to get out of a financial emergency.

There’s nothing more distressing than doing your best to make your salary last through the month only to be blindsided by an unexpected high expense.

If, for instance, you notice one morning before you get into your car on your way to work that all four tires of your car need to be changed, then, on average, it could cost you as much as $600 because the cost of tires ranges from $500 to $700. While you might be able to postpone this for a few weeks, the longer you wait, the more you risk having a blowout on the freeway. Since you may only be earning about $300 to $500 a week, with that money going to pay your regular bills, you may be wondering how you’re going to be able to afford to buy new tires.

Fortunately, there are lending companies that will give quick cash loans you can pay back in installments. The approval process is fairly easy and you will receive your money fast. You just need to be employed, have a valid Social Security number, and have an active checking account.

2. How to create a budget.

In order to create a budget, you need to take the following 7 steps:

• First, find a system that works well for you. You may want to get a software program that makes it easy to set up your budget. Alternatively, you may prefer complete autonomy in how you organize the budget. In this case, use a spreadsheet. After you’ve opened up a spreadsheet program, put in column headings and then create cells for recording income and expenses and cells for calculating totals.
• Second, establish what your net income is after taxes. You need to know exactly how much money is coming in every month from all your income sources.
• Third, make a list of all the ways you spend your money each month.
• Fourth, create a financial goal to spend less than you earn.
• Fifth, make a plan to help you reach this goal.
• Sixth, take a month to track your cash flow.  This first month should be focused on researching your budget numbers.
• Seventh, keep on improving your budget. Every month, you will get a more realistic idea about your spending habits, and you will get numerous insights on how to manage your money better.

3. How to raise your money awareness.

In order to improve your habits around money, you need to increase your awareness around money. Specifically, you need to become aware of where your money is going. In order to develop self-awareness, you need to keep track of  the following four things:

1. How often you sabotage your money plan.
2. When you confuse your needs with your wants.
3. The times you succumb to peer pressure, spending money on things that you don’t really want but buy anyway because you are trying to fit in.
4.  When you abuse your credit card, creating a debt that you won’t be able to pay off during the next billing cycle.

The best way to develop money awareness is to carry a small notebook with you. Simply writing each money mistake you make will build your awareness; and, over time, you will stop making mistakes.

In closing, if you find yourself struggling with money, you’re not alone. Millions of people struggle with money management because they were taught how to manage their money despite years of formal education. Fortunately, learning these three basic money management techniques just requires time and patience to master.

Though Canada has a very similar lifestyle and quality of life as in the United States, the real estate market there is much more stable. The Canadian real estate market didn’t experience the crash that the States experienced, and in the last few years, has gone up in value, making great returns for those who invested. It’s difficult to generalize the entire country’s market, so we have broken it up into cities that might be interesting for potential American investor.

Toronto

No, it’s not the capital of Canada, but it is its biggest city, boasting a population of 2.8 million, and a thriving real estate economy. Prices have grown dramatically in the last few years, making it difficult for many to afford. However, Canada has learned from its southern neighbor and has been careful with financing options, avoiding the “bubble”. Instead, think of this high value market as a “play big, win big” opportunity. With Lester B. Pearson International airport, Toronto is a global city that is well linked with the rest of the world.

Montreal

The closest you are going to get to Europe on the North American continent, this cosmopolitan center is a great place to own a property. There are a range of options, from houses to stacked townhouses. Find condos for sale in Dorval near urban amenities and green spaces, perfect for working individuals as well as families with kids. You could invest in a long-term rental here, as well as other options, as this is a thriving city with plenty of tourists, conferences, etc.

Vancouver

Dramatic landscapes, mild weather, liveable communities all sound like one amazing Canadian city: Vancouver. “Vancity” as it is known, has been an investors’ darling – high, growing prices as this metropolis gains more and more momentum and desirability. Though the point of entry is sky high, we don’t foresee the prices dropping, and besides – who doesn’t want to own property here? Some say it’s as close as you get to utopia in North America.

Windsor

The city bordering with Detroit shares a river but none of its recent problems. Low real estate prices makes this a desirable investment opportunity as it is easy to enter, yet the prices have been on an upward turn. Many like Windsor for its long summer with balmy weather and the opportunity to play in Detroit while live in more family-centered Windsor. Traveling back and forth to the States is very approachable and easy, as there is both a bridge and a tunnel that connects these two cities. Furthermore, there is some beautiful countryside just outside of Windsor, full of wineries, fruit farms, and amazing views of Lake Erie. Truly a retiree’s dream.

Cornwall

If you really don’t have a lot of cash to invest, Cornwall could be just what you are looking. You can find a great deal on spacious homes in this small city, once again close to the US border. It’s a beautiful municipality on the St. Lawrence River and close to the major cities of Ottawa and Montreal. If big cities are overwhelming to you and all you want is a quiet town that still has all the essentials of the city, Cornwall could be the place for you.

There are many different places that you could be interested in buying properties in Canada. Depending on your budget and what your long-term goals are, it might be worth talking to an international property specialist who will have a more focused approach and will able to help you with the paperwork required in an international purchase. Buying abroad might seem complicated and exotic right now, but when it’s Canada, you know that it is a safe bet, perhaps even safer than at home.

When you are stuck in a dead-end cubicle job, you are looking for any viable way out. Enrolling in online trading courses is key to becoming a profitable day trader, which can give you the financial freedom to say goodbye to the office job that you never loved.

With Warrior Trading you can enroll in day trading courses that put you onto an accelerated path that can bring you to a viable level of profitability, without taking up too much of your time. The key is being able to absorb and understand the Warrior strategies of momentums day trading, swing trading and penny stocks trading.

When you enroll in day trading classes, you need to understand how much time and effort is required. Although these classes are laid out in an informative and accessible manner, this is no get rich quick scheme. You need to be able to follow along and put the work in to be a successful day trader.

When you join up with Warrior Trading, the basic classes will teach you the basics of day trading strategies, the techniques to make sure you are squeezing the most profits out of hot stocks, how to find those winning stocks in the first place and how to read and understand charts. Reading advanced chars is an essential part of being a day trader. You want to be able to see the candles and the highs and lows of each stock.

One of the best parts about joining Warrior Trading is that you are joining a community. Day trading can be a lonely and isolating business. Being in a daily chat room with other day traders and learning and understanding what the veteran traders are doing on a daily basis can be an invaluable edge to your education.

While being an independent day trader is a great way to have a flexible job, free from the demands and stresses of a petty workplace, it helps to have a group that shares your goals, fears, hopes and dreams. You can relate to the other traders in Warrior Trading’s chat room.

When you delve into Warrior Trading’s online trading courses, the details of these strategies will be fully fleshed out in an accessible manner. Beginning traders need a low bar in order to start racking up wins and gaining confidence. That is one of the keys to being successful in any endeavor, not only day trading.

When you want to learn more about online trading classes, check out Warrior Trading on Facebook.

When the world broke out with the promising talks about the renewable sources of energy, some critics of modern progress entered the conversation. In this article we are going to discuss the most popular statements that put the reputation of renewable energy under attack.

The hottest news: who we do trust

With the upcoming plans of New York State Energy Research and Development Authority (NYSERDA) the offshore wind offtake is likely to be used in some American states. The director of NYSERDA Doreen Harris claims to be providing new opportunities for usage of offshore wind energy in June this year.

It could be a great solution for American manufacture that is based on limited and running out non-renewable energy. However, we cannot ignore the next facts.

Weak attempts to regulate nature

At first, renewable sources of energy depend on the weather so much. For instance, if there are any unpredictable alternations of weather, the consumption of wind energy is under danger.

The protectors of environment say that it is forbidden for a person to invade the independent life of nature. Otherwise, the severe rain or slow wind streams might affect energy production badly.

Then, the second reason put forward by people who are against renewable sources is that it is almost impossible to produce such energy in large amounts. This technical decision is able to have negative consequences embodied in the necessity to save on the energy consumed. Particularly, one needs to decrease the total consumption of energy in case he uses only renewable sources for his business affairs.

The next issues to be sold lie in the necessity to create a great deal of solar panel and wind farms to launch the good functioning of such energy.  Nevertheless, it is more a space for further work and development than a true problem.

Why we do need renewable sources of energy

When we talk about the renewable sources of energy, the positive sides are much more significant than shadow or unclear ones.

Having outlined the main problems, we must say that pros leave behind the controversial influence of cons in this issue. For example, the usage of renewable energy sources is likely to be beneficial for the state of world economics as their usage makes impact on keeping prices more stable.

How does it work? Perhaps, it is not a secret for anybody that inflation is based on the raise of fall visible in the supply of fossil fuels. Consequently, once you start using renewable sources of energy, the finances are spent on the further development of technical progress but not on the inflation touching the cost of non-renewable resources.

Sustainability is another advantage as, whatever happens, sun is going to shine while a wind is about to blow. The only thing is that enterprises dealing with such a kind of energy production are to apply to an infrastructure advisor specialized in the commercial development of renewable energy projects.

How could we save ecology?

The more attention we bring to ecological issues, the better our planet could become. No hesitations, the supply of renewable energy is able to make the environment healthy because such sources do not contaminate it with carbon dioxide and other toxic substances.

Except for that, renewable sources of energy do not waste the nature along with its materials that had been saved for a long time. One more pleasant thing in which one could definitely be convince is that renewable sources of energy will not disappear one day. Thus, many countries will not have to rely only on coal, oil, and gas anymore.

Borrowing money is something everyone has to do at some point. Not everyone, however, presents the same level of credit-based worthiness and risk to a lender. While lenders are in the business of issuing money at interest, the lenders do need to take extra precautions when someone has weak credit. Borrowers are not entirely concerned with the business matters of lenders. They would just like to collect the funds they ask for. Things are not always so simple. Sometimes, extra steps are required to garner an approval.

Two very common approaches are employed by those who may not otherwise be approved for a personal loan. The would-be borrower could request someone co-sign the loan or he/she could put up some form of collateral. Some may seriously weigh a designer to ask a cosigner to help out or to go the collateral route.

The Benefits of a Cosigner

If a cosigner puts his or her signature on the loan application, the loan may be easily approved. Granted, the cosigner would need excellent credit in order for such an outcome. Finding the right cosigner is critical to be approved. A cosigner with weak credit is hardly going to be much help to the cause. An individual with good or better credit score may aid with a quick approval and the receipt of a lower interest rate.

The problems with a cosigner may give some pause for thought, though.

The Drawbacks of a Cosigner

Borrowers may have trouble finding a cosigner. Not everyone is willing to put his or her name — and obligation to pay — on someone else’s loan application. Those who need a loan quickly might be too pressed for time to locate a cosigner.

Even when a cosigner agrees to terms of the loan, he or she might not actually stick to them. In other words, if the primary borrower defaults, the cosigner may default as well. The “safety net” of the cosigner making payments disappears. Both parties end up in trouble.

In the event of a default, the borrower and the cosigner are probably going to end up with a very strained relationship. Borrowers do need to ask if such a risk is worth it.

Collateral and Its Benefits

When collateral is put up for a loan, the loan is considered secured. Collateral alone might not be enough. Financial institutions don’t want to go through the trouble of seizing collateral to resell it. Hence, the lenders do look closely at the credit history of the borrower. A person with bad credit might be turned down even if he/she is putting something of tremendous value up as collateral.

Not all collateral loans require good credit. A car title loan would be a type of secured loan in which poor credit borrowers and the unemployed could be immediately approved. How title loans work is fairly easy to understand. Essentially, the title — ownership — of the car is put up as equity. The loan amount is going to be lower than the full resale value of the car. Interest rates may be very high. For some, a car title loan may be the only option available due to financial and credit history circumstances.

Other collateral loan options exist. Those who own property may explore home equity options, a low-interest endeavor. Borrowing from a pawn shop has become a popular form of secured borrowing thanks to television shows highlighting the industry.

Think Things Through

Any borrower who cannot be approved for a personal loan has to look for alternatives. In addition to looking at viable alternatives, serious thought must go into making any decisions. This prudent approach may help with avoiding a number of problems — financial ones — that otherwise might occur.