Hub Blogs

Hub Blogs contains fresh contributions written by Financial Independence Hub staff or contributors that have not appeared elsewhere first, or have been modified or customized for the Hub by the original blogger. In contrast, Top Blogs shows links to the best external financial blogs around the world.

The critical role of planning for Cash Flow

Posted By Financial Independence Hub | August 17, 2016

By Ennio Longo

Special to the Financial Independence Hub

Are you like so many Canadians? You have a good paying job, are in a two-income household, own a home and yet you run out money before you run out of month?

The majority of Canadians are spending more than they make. If this sounds like you, you’re not alone. We are trying to put some money aside for the future as we have been told we should, but we also want to enjoy today; take that trip, get a new car, renovate the kitchen. We cannot just live for tomorrow. WE WANT TO ENJOY TODAY.

The reason we have this shared experience is that we never went to school to learn how to “handle” our finances or how to manage our CASH FLOW. With so many different companies from financial institutions to consumer goods vying for our money, managing our cash flow on a monthly basis can be very difficult for many people; myself included.

Certified Cash Flow Specialist

With a four-year business degree and a CFP (Certified Financial Planner) and CLU (Chartered Life Underwriter), one would think that I would have received a formal education in cash flow planning as well, but I didn’t; at least not until I received an actual formal education in cash flow planning and became a CCS (Certified Cash Flow Specialist). Continue Reading…

Tax evasion schemes land “De-taxers” in jail

Posted By Financial Independence Hub | August 15, 2016

David Rotfleisch-03-500W — David Rotfleisch

By David J. Rotfleisch

Special to the Financial Independence Hub

When “de-taxers” use best business practices such as franchising and friends and family of multi-level marketing (MLM) techniques, you know that even fringe thinkers are watching and learning from the likes of “Dragon’s Den” and “Shark Tank.” Entrepreneurialism, it seems, has caught on in the tax evasion industry.

They’re running seminars and courses, and selling books, CDs, and DVDs, to teach fringe thinkers and gullible Canadians that it’s their God-given right not to pay taxes and here’s how to do it: commit fraud by evading tax. They are “educational,” setting up schools to do this.

And they do this for fees, of course.

Two de-taxer founders now in jail

De-taxers have been on Canada Revenue Agency’s radar for a long time and the founders of two different tax evasion schemes have been jailed recently. Tax protestors have gone from nuisance to serving jail time, plus hefty fines, in short order.

Review — The Defining Decade: Why your Twenties matter

Posted By Helen Chevreau | August 13, 2016

It was a few years ago now that my mom came to me and told me about this book I just absolutely had to read.

As with most things my mother tells me, I nodded, then continued on as if nothing was said. She gave me a copy of the book but I just put it on my shelf, along with many other parental recommendations that I never quite had the time to pick up and get to.

This past January, though, I was sitting around with my friends and they were all panicking about this book they were reading, and how their lives weren’t where they should be for our age, and how their entire perspective had shifted after reading it. Naturally, I was intrigued. What is this book and why is it so powerful as to elicit such a panic from my friends?

As luck would have it, the book they were discussing was the same book my mother had tried to get me to read years before, and I knew exactly where it was sitting on my shelf. I picked up The Defining Decade as soon as I got home that evening, and didn’t put it down ’til it was done.

‘The Defining Decade’ by Meg Jay, PhD is, as cliché as it may sound, a call to action. Continue Reading…

Sorry Boomers, as FinTech rises, Millennials now main focus of financial industry

Posted By Jonathan Chevreau | August 12, 2016

As I recount on page FP3 of today’s Financial Post, the baby boomers are fast becoming supplanted by the Millennial generation when it comes to attracting the attention of the financial services industry and in particular the rise of the fintech industry.

For online version, see Sorry boomers, the focus is shifting: Millennials are fast becoming new apple of financial industry’s eye.

Certainly, much of the action around so-called “Fin-Tech” is oriented to the Millennial market, with many of the firms also founded or cofounded by Millennials. The big three fintech categories are online lending, robo-advisers and payment technology.

Note the New York Times had an interesting piece this week on fintech and blockchain: Envisioning Bitcoin’s Technology at the Heart of Global Finance. Also note my Hub review of Don Tapscott’s groundbreaking book on blockchain, with a link to a video: Book Review: Blockchain Revolution.

YOLO: the new Millennial motto?

Also in the FP package today is a review of a book written by a Millennial that addresses Millennials: You Only Live Once, otherwise known as the popular millennial slogan YOLO.

5 ways financial apps can ensure data security

Posted By Financial Independence Hub | August 11, 2016

By Barney Whistance

Special to the Financial Independence Hub

People are obsessed with money and their smartphones and tablets at the same time. The more money flow they have to manage, the more insecure they become about keeping track of it and keeping it safe.

There is no doubt that smart apps can help to manage your money, make large deposits and transfers of money in a short time, use the best use of financial information and make simple payments online. However there is still a potential threat of online theft and scams. Thousands of functional apps are developed every day to help keep track your money but the question remains whether or not these financial-related apps are safe and secure to use and protect you from an online hack or theft at the same time.

With the digital revolution and the integrated use of social media, the financial industry has to determine the safest ways to transect the online transfer of money in online apps. Contrary to their social media activities and brand identity hype, some finance apps tend to be of no use and are most vulnerable to outside hacks.

Financial applications should be able to provide users with the immediate access to their financial data with convenience and security. However there are some tips which can ensure that your financial data and money remain safe and secure.

Securing the Flow of Sensitive Data

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