Oaken Blog

Canada Deposit Insurance Corporation – 6 things you should know

By Scott Boyd

October 28, 2020

When it comes to their savings, Canadians are fortunate to have their savings protected by the Canada Deposit Insurance Corporation (CDIC). As a federal crown corporation, the CDIC is responsible for providing insurance in the rare event of a failure on the part of the financial institution holding their funds. To help kick off Financial...read more

Should you let your adult children live at home rent-free?

By Barry Choi

October 28, 2020

I have a confession – until about a week before my wedding day, I was still living at home. Although culture certainly played a small role in that decision, it’s not like I was in any rush to move out. My parents encouraged me to stay at home as there was no rent to pay,...read more

No more mortgage? Here’s what to do next

By Barry Choi

October 23, 2020

Making that last mortgage payment should be a celebration. You’ve likely spent decades paying off your most substantial debt, so there’s no reason why you shouldn’t be excited. Take time to enjoy the moment before the next natural question comes up. “What now?” Without a mortgage, your monthly expenses could decrease by hundreds of dollars....read more

How to maintain a good credit on a reduced income

By Barry Choi

September 28, 2020

Maintaining a good credit score on a low or reduced income can be difficult. While there’s no denying that managing your money can be challenging, there are things you can do to help ensure that your credit score remains in good standing.   Make at least your minimum payments One of the most significant factors...read more

Thinking of buying a new home? Keep these things in mind before starting your search

By Barry Choi

September 25, 2020

Buying a home is one of the most exciting things you’ll do in your life. It represents a significant milestone that should be celebrated, but it also requires careful planning since there are so many steps involved. While it’s nice to think about what area you want to live in or what kind of furniture...read more

Why I want nothing to do with FIRE

By Barry Choi

September 15, 2020

Have you heard of the FIRE movement? In case you’re unfamiliar with the term, FIRE stands for Financial Independence Retire Early. People who FIRE aren’t looking to retire five or ten years early, they’re looking to do it in their 30’s or 40’s. That’s quite the goal and requires some careful planning. If you can...read more

Additional costs to consider when buying a home

By Barry Choi

August 28, 2020

Many Canadians aspire to be homeowners but don’t realize how many different costs are associated with buying a property. The obvious things you’ll likely need are a down payment and a mortgage, but there are plenty of other things you will also need to budget for before you start looking for a home. Here are...read more