Have you ever been standing in line at the bank when you see one of the tellers call over a manager? Chances are, something not so routine is going down at that counter. A lot of times this could be an oversized deposit or withdrawal. For most people, a couple of hundred dollars here and there would never raise an alarm at a bank. But occasionally, a customer will need to make a major transaction. So when do banks get suspicious of cash deposits? I looked into it, and here’s what I found.  Surprisingly, there is a standard rule that is used by most banks across the United States. This ru ..read more

In many places across America, a car is a necessity for every family. Whether it is for commuting to work each day or just running a basic household errand, driving around by car is usually the fastest way to get around. But when it comes time to buy a car, a surprising number of people are clueless about the process. You don’t just walk into a dealer and get approved for just any car. The dealership takes a lot of things into account, including your personal credit score. In this article, I will tackle the question: is 750 a good credit score to buy a car? Read on to find out! It sure is! 75 ..read more

When it comes to personal spending, using credit cards is the new preferred payment method for Americans. The old adage “cash is king” no longer applies, especially since we can add our credit cards directly to our mobile phones now. I receive all kinds of questions about credit cards and how to get ahead with personal finances. In this article I’m going to focus on one particular question I often get asked: Can I overpay my credit card to increase limit? It is an interesting thought, isn’t it? I can see how you would think that overpaying your credit card shows the company you are able to ha ..read more

For most people, buying a house is going to be the most important and expensive purchase of their lives. I get a lot of questions about the requirements for being able to buy a house. One of these, of course, is your credit score. To apply for a mortgage in the United States you need a decent credit score number. It doesn’t need to be in the highest range, but it needs to be respectable. So ask yourself this: in 2023, can I buy a house with a 704 credit score? I looked into it and here’s the answer. Yes! A credit score of 704 is enough to qualify you for a standard mortgage in the United Stat ..read more

How do millionaires become millionaires? It is a question that has been asked for centuries. If the answer was simple, we’d all be millionaires! The truth is, for most millionaires, it took years of hard work, financial wherewithal, and probably a little bit of luck. But there is also some strategy to it. Avoiding high-interest debt has been a hallmark of wealthy people. So too is investing their money to help it grow. But which strategy is better? Do millionaires pay off debt or invest? I looked into it and here’s what I found.  It’s a combination of the two! Millionaires have been know ..read more

If you have ever started your own business venture, you have probably asked yourself this question. Keeping your personal and business finances separate is a choice you can make while your company is still small. If it continues to grow, it is definitely recommended to get a business bank account. But take a second to stop and consider which is best for you. Is bank account a personal account? Or should you have your personal and business finances separated?  Ultimately, this answer will depend on where you are as a business. If you are just starting out and are registered under your own ..read more

Believe it or not, there are plenty of people who are unsure if their bank account is still active. How do I know this? I get asked all the time: how to check if bank account is active or not? You might find it amusing, but there are a lot of people with multiple bank accounts under their names. This can also include business bank accounts or joint accounts with a spouse. If you are unsure of whether or not your bank account is still active, don’t worry, I’ve got you covered! There are actually several ways to check if your bank account is active or not. Most of them do not require much effor ..read more

I get a ton of questions about portfolio allocation and what people should invest in. To be honest, I will never provide you with any financial advice, even though I am the Financial Geek. Investing is a personal choice and you need to find a strategy that is best for your situation. With that being said, I think index funds are a great way for investors to ease into the stock market. If you are asking yourself: should I put all my money in index funds? This article is for you! For many investors, putting your money into index funds is a great way to start a portfolio. But it’s not just for b ..read more

During times of recession or economic volatility, it is common for consumers to turn to credit cards for spending. In the second half of 2022, Canadian credit card debt mounted to historic highs and totalled $1 billion for the first time in history. With so many people struggling to get by financially, how many credit cards is reasonable for a person to have? Is 3 credit cards too many?  While there is no limit to the number of credit cards you can have, the more you sign up for the more it can impact your credit score. This is especially true if you apply for several credit cards over a ..read more

Moving out for the first time can seem like a scary and even a somewhat daunting task.  But in reality, this is only the case if you fail to prepare properly and don’t have what people call a “financial cushion”.  To be honest, there’s no real secret to moving out of your parents house, but one thing you’ll want to make sure of is that your finances are in order. $10,000 can be sufficient to move out and rent, but it’s essential to consider factors such as stable income, monthly expenses, and any outstanding debts or financial responsibilities before deciding. Careful budgeting and ..read more