Insolvency is the biggest challenge because businesses eventually fall into liquidation. Businesses may file for voluntary or compulsory insolvency, depending on several factors. Bankruptcy is a legal course of action that a business goes through. But no business falls into insolvency in a day or short period.

Travel has become an essential part of the lives of Canadians and Americans, with both nations nurturing a strong wanderlust culture. However, increased flight expenses and inflation have significantly affected the affordability of fulfilling travel aspirations, potentially pushing individuals into financial struggle and debt.

If you’ve spent all of your monthly income before receiving the next one, you’re living “paycheck to paycheck”. It is a financial position that refers to having no savings from the take-home pay. It simply means you’ll spend everything you earn and will be left with nothing to save or invest.

It's no secret that the Canadian real estate market has been cooling down as of late. Prices in major city centres like Toronto and Vancouver have been falling for months, and there's no end in sight.

Many experts are predicting that the market will continue to decline for the foreseeable future. While this may be bad news for sellers, it's actually good news for buyers who have been priced out of the market for years.

As a fresh graduate, saving for the future can be hard to envision. But being money-wise in these earlier years can have exponential pay-offs in your later years. According to experts, avoiding several spending traps when you're early in your career can help set you up for a more stable financial future.

With much of Canada returning to a modified lockdown due to the spread of the Omicron variant of COVID-19, the federal government has enhanced and extended some of its support programs for individuals and businesses.

Meeting regularly with a CPA to establish and maintain a good framework is just one of the ways to set yourself up for success.