CIBC Personal Finance Expert Jamie Golombek stopped by to answer viewer e-mails.

In reviewing my finances, I have noticed that we have RRSP’s at three or four financial institutions and in multiple accounts. Can I consolidate all these RRSP’s so that I can maximize my returns and reduce the time spent tracking the accounts?

Yes, you can absolutely consolidate these accounts, in fact, it makes perfect sense to do so. There’s no penalty, but it can be tricky moving from bank to bank. Make sure you pick a financial institution you trust and already work well with. 
Depending on your RRSP’s, you could even save money on fees.

My husband is a self-employed renovation contractor and I never know how we are going to do for the year and always seem to play catch up with one crisis after another. How do I know how to budget when I don’t know what he will be making each month?

Plan your budget based on the bare necessities (food, heating, mortgage). This is the bare minimum you need in your account each month in order to survive. The rest of your money is discretionary – but that doesn’t make it “fun” money. Set aside an emergency fund to cover three months of your average income.

Should I be saving for the new program so that I won’t have to rely on loans the second time around? Or is it better to pay down my existing loans and then apply for new loans when I head back to school?

When it comes to saving versus paying off debt, it’s always best to concentrate your efforts. Typically, your debt will be charging higher interest than what you earn in a savings account. Pay off your debt first and then reapply when it’s time to go back.