DANIEL ENAYATZADEH FINANCIAL SECURITY ADVISOR
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STARTING A FAMILY

4/26/2017

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By: Daniel Enayatzadeh

Are you thinking of starting a family? If you and your partner are exploring the possibility of having children, it’s important to prepare for the financial impact your new little one will bring!

The following are a few key points to keep in mind:

1. Maternal and parental benefits: In my experience, the very first decision couples tackle with is how they're going to adjust their lives and schedules to accommodate the new addition to their family. In some cases, the income they’ve been accustomed to may decrease, please see my points #2 and #3 for more. Gaining a solid understanding of the Quebec maternal and parental insurance plan is the first step in a plan for the future. Please see the following link which includes a benefits calculator. It can provide a good idea as to how much money you can expect to receive. http://www.rqap.gouv.qc.ca/ 

 2. Understanding your budget: Whether or not you’ve been following a detailed budget, you can pretty much throw it out the window! Just joking! Hold onto it because you will likely need to adjust it. Have a sit down with your partner and determine what your pre and post baby costs are. This is an important step in creating a game plan, as well as knowing what you can expect, especially when your incomes may experience a temporary adjustment. 

3. Emergency fund: Children come with all kinds of unexpected expenses. Setting aside some cash, that’s not invested anywhere and available at a moment’s notice will provide you with the peace of mind to tackle the unexpected.

4. Tackle your credit card debt: You can also consider speaking to your bank or a mortgage broker about consolidating your loans. 

5. Talk to a friend: Before you go on a shopping spree for all those baby accessories and items, talk to a friend who’s been through it and ideally bring them with you shopping. It can help narrow down the necessities. 

Last but certainly not least, book a meeting with your financial advisor!
 
Daniel Enayatzadeh is a Financial Security Advisor specializing in investment and insurance planning. He can be reached at 514-996-9400 or at daniel@thefinancialadvisor.ca 
 




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3 NEW YEAR RESOLUTIONS THAT YOU CAN START TODAY!

1/9/2017

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By: Daniel Enayatzadeh

The late Jim Rohn said ‘’Motivation is what gets you started. Habit is what keeps you going’’ With a new year comes the motivation to do things differently, to make changes and to start fresh!


​I’ve included 3 New Year’s resolutions that you can start tackling today.


1) Close unused bank accounts

Financial institutions often encourage you to sign up for new credit cards or open a new bank account. Don’t fall into that trap! Take a few moments to review all your bank and credit card accounts, find out how much money you’re paying in fees and what can be eliminated. In addition, the fewer credit cards you have, the less credit you will have access to. This can also prevent you for ringing up too much credit card debt.

 2) Establish a habit of reviewing your finances

The more often you review your spending habits, the more aware you will be of your expenditures. This tends to make you more conscious of what you’ve recently spent the next time you’re faced with a decision to purchase something.

 3) Be kind to yourself

When we’re not where we’d like to be, financially speaking, we can sometimes be hard on ourselves. The fact that you’re reading this right now proves that you’re looking to make positive changes and that in itself is something YOU should be proud of!

If you enjoyed this article, please share it!

Daniel Enayatzadeh is a Financial Security Advisor specializing in investment and insurance planning. He can be reached at 514-996-9400 or at daniel@thefinancialadvisor.ca 


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13 WAYS TO SAVE MONEY EVERY MONTH!

11/14/2016

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By: Daniel Enayatzadeh

​Most of us would like to save money at the end of the month. The following is a list of tips I’ve put together.
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  • Before buying something new, ask yourself: Is this a need or a want? If you don’t need it, wait a few days and reevaluate. 
  • When you’re out, carry portable snacks, like vegetables or granola bars to avoid buying food impulsively.
  • Do your grocery shopping with a list, and stick to it.
  • Use cash more often than plastic. Studies show we spend less when we use cash.
  • Track your expenses for a few weeks, try to identify wasteful spending trends.
  • Evaluate any subscriptions or memberships you don’t really need.
  • Look out for sales and buy in bulk.
  • Explore generic brands.
  • Incorporate more vegan meals into your diet.
  • Create a plan to eliminate any credit card debt.
  • Review your insurance policies.
  • Have something lying around that you don't need? Sell it!
  • Don’t be afraid to ask a friend for advice on how they save money.​

​How do YOU save money? Include your tips in the comments! 

Daniel Enayatzadeh is a Financial Security Advisor specializing in investment and insurance planning. He can be reached at 514-996-9400 or at daniel@thefinancialadvisor.ca ​
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TEACH YOUR KIDS ABOUT BUDGETING!

10/27/2016

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By: Daniel Enayatzadeh

According to a survey by the Financial Consumer Agency of Canada, 8/10 young Canadians said they are not confident in their knowledge of financial literacy.

That being said, it’s almost never too early to teach your kids about budgeting, debt and saving. You can start by talking about your own finances, this will help put money into perspective. Talking about how you organize your budget, what you’re currently saving for, even how you pay bills, will help make the whole topic clearer.

Daniel Enayatzadeh is a Financial Security Advisor specializing in investment and insurance planning. He can be reached at 514-996-9400 or at daniel@thefinancialadvisor.ca ​
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    Personal finance blog covering topics such as saving, budgeting, investing and insurance planning

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