Life happens.

And with it, so do unforeseen hardships.

That's why it is always good to be proactive and have a plan.

A new report by BMO Wealth Institute reveals that while many Canadians have a financial plan in place, very few have considered what would happen if unexpected life events arose that could cause financial hardships.

Young money.

According to a new report from BMO Economics, Canada's youth will have more spending power than their parents over their lifetime.

Years ago, it seemed the younger you were, the worse off you were.

But now it seems the kids will be all right.

Now that school is out for college and university students, the race is on to find a job.

Even though employment fell by 55,000 full-time jobs in March, it is up by 203,000 over last year.

But even better news is that almost half of Canadian businesses plan on hiring students or recent graduates this year, according to a new report by BMO Bank of Montreal.

Believe it or not, families are spending more on taxes than they are on the basic necessities of life.

According to a new report by the Fraser Institute, 42.7 per cent of an average Canadian family's income went towards taxes while just 36.9 per cent was spent on food, clothing and shelter in 2012.

And we wonder where our money goes.

Assuming you're one of the lucky few who actually have a job, how does having a four-day work week or at least or a flexible schedule sound?

How about being able to work from home occasionally, or even all the time for that matter?

• More time with family
• Less commuting stress
• More free time
• Fewer costs from commuting and work expenses
• Better health and more exercise

Many Canadians are becoming quite capable "Do-It-Yourselfers" (DIYs) when tackling home improvements.

But it's not only renovation projects they're undertaking on their own... they also prefer doing their taxes that way too.

According to a new report from BMO Nesbitt Burns, almost half of Canadians polled prefer preparing their own income tax returns rather than have someone else do it for them.

And, about 35 per cent have indicated they will be using tax software to help them get the job done.

Parking costs are on the rise in most major North American cities as officials grapple with reduced revenue and the political challenges in raising taxes.

Rates across Canada are generally higher with Calgary in the priciest spot at $456 a month, according to a recent survey by Colliers International.

Of the 12 major Canadian cities surveyed, Montreal was deemed the second-most expensive city to park in with a cost of $330 a month, on average – a 12% year-over-year increase. Toronto ($316), Edmonton ($295) and Vancouver ($277) round out the top five most costly Canadian cities.

There's a stack of of variables that go into parking demand, including the price of gasoline and the availability of mass transit. But generally the biggest factor is downtown office vacancy rates. The more office workers looking for space, the greater the demand for parking.

That's why the City of Ottawa is considering shifting its parking rates based on how often spaces are used.

Following the lead of several U.S. cities, the City of Toronto recently passed a controversial 'access without fear' motion that would provide undocumented migrants access to municipal services such as food banks and homeless shelters.

The move sparked howls of protest from groups like The Centre for Immigration Policy Reform, who argue that by failing to uphold the law, Canada´s largest city has sent a message that the law doesn´t matter.

Dissenting councillor Minnan-Wong doesn't agree with the decision either, suggesting that illegals don't deserve access to government services.

There's much to be said about a good education.

But if you're late getting out of the gate, how do you plan on funding your child's post-secondary education?

Graduating high school students, like my daughter in Grade 12, are just now starting to get their acceptance letters to colleges and universities. And, according to a new report by BMO Wealth Institute, a four-year university degree can cost upwards of $60,000 and yet three-quarters of Canadian parents are not prepared and only half have taken advantage of Registered Education Savings Plans (RESPs).

I remember my father with his neat stacks of coins lined up on the kitchen table, ready to roll up into coin wrappers of every denomination.

Quarters, nickels, dimes and, of course --- lots and lots of pennies!

He had a lot of patience sorting and counting the change and I admired how he managed to stuff those neat stacks of coins into the little paper wrappers with expert precision.

Now, many banks across the country are rolling out coin counting machines to offer convenience for all that spare change laying around the house.