Lower-cost and easy ways for homeowners to beat the winter chill

CALGARY - It's the season for pumpkin spice lattes and cosy sweaters, but also draftier rooms and pricier energy bills. 

Spending tens of thousands of dollars to replace older windows and doors with state-of-the-art efficient ones might not be in everyone's budget this year. But efficiency experts say there are simpler and cheaper ways to keep a home toasty and comfortable in the meantime. 

"Often we have the perception that the problem is our doors and our windows, but really the problem is more the leakage that's happening around our doors and windows," said Carl Duivenvoorden, a sustainability consultant in Upper Kingsclear, N.B.

So a low-cost, do-it-yourself option with a good return on investment would be weatherstripping, he said. 

How your rent payments can help build your credit history

Paying rent, much like a mortgage, can often be a person's biggest monthly expense. Yet, there hasn't historically been a way for renters to get credit for making these large payments on-time like homeowners. 

New rent-reporting platforms are aiming to change that. These platforms act as a liaison between renters and their landlords and a credit bureau so renters can build their credit history and improve their chances of qualifying for a mortgage when the time comes. 

“Your rent is your biggest monthly obligation for debt payments so it's unfair that it's not counted towards building your credit,” said Viler Lika, founder and CEO of rental services company SingleKey. 

Companies like SingleKey, Zenbase, Borrowell and FrontLobby offer such rent-reporting services, with varying fees and requirements.

Stock splits increase number of shares but don’t magically make you richer

For inexperienced investors, a stock split might appear to be a windfall as the number of shares you hold in a company increases, but the reality is the value of your investment doesn't change.

There is no free money with stock splits.

However, David Goldreich, a finance professor at the University of Toronto's Rotman School of Management, says stock splits are sometimes seen by investors as a positive signal.

"When the manager does a split, it is reasonable to interpret it as management is confident that the future is looking good," he said. 

How to navigate social media trends without derailing your budget

NEW YORK (AP) — Did you buy a new pink dress to watch the Barbie movie, only to never wear it again? An Oura ring because your favorite TikTok influencer had it? A new pair of baggy jeans because '90s fashion is making a comeback?

Niche trends fueled by social media can influence your shopping decisions. Participating often brings some happiness and a sense of community, but the problem comes when you do it so often that you’re not using your money to achieve your financial goals, or worse, you get into debt, said Erika Rasure, chief financial wellness advisor for Beyond Finance, a financial services company.

Whether it’s coastal grandma or clean girl aesthetic, microtrends can take a significant toll on already-strained budgets as prices rise and Gen Z struggles to pay off debt.

If you find yourself overspending to participate in microtrends, here are some expert recommendations:

Gen Z’s credit scores are dropping. Here’s what to do if yours is too

NEW YORK (AP) — Gen Z has seen its credit scores drop more than any other generation over the past year, largely because of student loan debt, according to a new report out this week.

The total national average credit score dropped two points this year to 715, according to the report from credit scoring company FICO. But Gen Z's average score dropped three points to 676, the largest year-over-year decrease among any age group since 2020.

A credit score is a mathematical formula that helps lenders determine how likely you are to pay back a loan. Credit scores are based on your credit history and range from 300 to 850.

The report found that 34% of Gen Z consumers have open student loans, compared to 17% of the total population, and the decline in credit scores is primarily due to the resumption of student loan delinquency reporting.

Return to office full-time may require a lifestyle change, revisiting budget

It's happening: The trains are overcrowded again. There's traffic gridlock every weekday morning. There are longer lines at your favourite downtown coffee shop and even longer queues at lunch hour.

The pre-pandemic norm of working five days in the office is coming back for many Canadians, except it's not exactly the same this time around. The cost of just about everything, from food to gas, has risen significantly from five years ago. But for many office-goers, their paycheques haven't kept pace.

For those mandated to return to the office, they face increased expenses for transit, parking, meals and even dog-walkers as they prepare to spend more time away from home.

Financial educator Eduek Brooks estimates the cost of returning to the office five days a week could range anywhere between $800 and $1,000 per month. Her calculation includes driving to work, paying for parking and eating out a few times a week as well as additional costs such as buying new clothing and beauty products. 

Rebalancing your portfolio regularly keeps your financial goals on track

You carefully selected the perfect mix of stocks and bonds for your investment portfolio, only to find it's in disarray less than a year later.

But a rebalance could fix that, aligning your portfolio once again with your target asset allocations.

Rebalancing means buying and selling equities and fixed income, among other assets, to get back to the ideal mix of investments in a portfolio. But knowing how often or how much of the portfolio an investor should rejig can be tricky. 

"Typically, what happens is when you're invested, the holdings within the portfolio will drift with time, as the market does," said Devin Cattelan, portfolio manager at Verecan Capital Management.

Breaking up is hard to do but divorce registries want to make it easier

Olivia Howell's sister was engaged when the COVID-19 pandemic began, forcing her to reschedule her wedding so frequently that by the time the date finally neared, her fiancée had second thoughts. 

Soon after, they split and she moved out of the apartment they had shared for a decade. 

"She had to start from scratch, so she called me one day and was like, 'Do you remember the idea you had? Let's try to build it,'" Howell said. 

Howell's idea, inspired by the dissolution of her own marriage in 2019, was a divorce registry. It acts much like a wedding registry and is filled with some of the same items — pots and pans, bedding, furniture and just about anything else divorcees might need but don't always get when they and their partner divide up their assets. 

Prenups can be an uncomfortable topic, but a big help in the event of heartbreak

There's a certain stigma that can come with a prenuptial agreement. Some might argue it signals a lack of trust or endurance of the relationship. But the conversation doesn't have to turn sour, experts say.