The Dangers of Distracted Driving [National Safe Driving Week]

Updated:
December 3, 2019

Driving while distracted not only puts the driver in danger, but any passengers, pedestrians, and other drivers in danger as well. Distracted driving is defined as any time that a driver’s attention is taken away from the task of driving. The most common causes of distracted driving are:

  • Texting
  • Talking
  • Eating or drinking
  • Using the stereo or navigational system

According to Transport Canada, distracted driving contributed to 21 per cent of fatal collisions and 27 per cent of serious injury collisions in 2016, both of which represent an increase over the previous decade.

Penalties for distracted driving vary across provinces and territories, going as high as a $1,275 fine and six demerit points. However, these penalties and risks are often not enough to deter drivers from staying focused on the road. As such, employers may need to do more to help prevent distracted driving on the job.

Drivers should be set navigation settings and secure all loose objects before driving, and are encouraged to let calls, texts, and emails go unanswered. Instead, drivers should allow for plenty of time to spare so that they can pull over to read and respond to any communications without fearing running late to their destination.

FAQs

What is financial advising?

Financial advising involves providing guidance and advice to individuals, families, or businesses to help them make informed decisions about their financial matters. This can include various aspects such as investment planning, retirement planning, tax planning, estate planning, and more. Financial advisors analyze their clients' financial situations, goals, and risk tolerance to create customized strategies that align with their objectives.

Why is financial planning important?

Financial planning is crucial for several reasons:

Goal Achievement: It helps individuals set and achieve financial goals, whether they are short-term, such as buying a home, or long-term, like funding a comfortable retirement.

Risk Management: Financial planning addresses risks by considering insurance, emergency funds, and other protective measures.

Budgeting and Saving: It promotes responsible money management through budgeting and saving, fostering financial stability.

Wealth Building: Effective financial planning can lead to wealth accumulation and the creation of a secure financial future.

Can financial advisors help with debt?

Yes, financial advisors can help with debt management. They can assess your overall financial situation, create a budget, and develop strategies to pay down debt efficiently. They may also negotiate with creditors on your behalf, provide debt consolidation recommendations, and offer guidance on prioritizing and managing debt repayment.

What exactly does a financial advisor do?

The specific responsibilities of a financial advisor can vary, but generally, they:

  1. Conduct a thorough analysis of a client's financial situation, including income, expenses, assets, and liabilities.
  2. Develop personalized financial plans based on the client's goals, risk tolerance, and time horizon.
  3. Provide investment advice and portfolio management services.
  4. Offer guidance on retirement planning, estate planning, tax planning, and insurance.
  5. Monitor and adjust financial plans as needed based on changes in the client's life or market conditions.
  6. Educate clients on financial matters and empower them to make informed decisions.
What is the average fee for a financial advisor?

The fees charged by financial advisors can vary widely based on factors such as the advisor's experience, the services provided, and the region.

Common fee structures include:

Hourly Fees: Advisors charge an hourly rate for their services.
Flat or Fixed Fees: A set fee is charged for specific services or a comprehensive financial plan.
Asset-based Fees: Fees are a percentage of the assets under management (AUM).
Commission-based Fees: Advisors earn commissions on financial products they sell.
Combination of Fees: Advisors may use a combination of the above fee structures.
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It's important to discuss and clarify fee arrangements with a potential financial advisor before engaging in their services.