How an Increase in Interest Rates could Affect You

Interest rates are currently at a very low level, and have been falling since the 1980’s. Here’s how an increase could affect you. With higher interest rates, Canadians will pay more interest. It is not yet known how Canadians will handle these larger payments but it is likely disposable spending will go down. This will

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How to Prepare your paycheque from the Threat of Pandemics

Whether it is Covid-19, or a future pandemic, it is essential to prepare for the dangers that can come.  Many Canadians do not have an emergency fund. This is a liquid, usually cash, fund that is there when hard times hit. It is usually advised that everyone have an emergency fund that is three to

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How Does the Price of Oil Affect the Price of Gas?

Even when the price of oil is far below what it used to be, gasoline can still remain constant. This can be attributed to U.S. Dollars affecting the price of petroleum products, this can be seen with the West Texas Intermediate (WTI). Not only is our week dollar hurting us, the carbon tax has increased

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How to Ensure your TFSA is Working for You

Nearly 60 per cent of Canadians have opened a TFSA since it was introduced. The Tax Free Savings Account is an essential tool in building wealth. As the name infers, it allows one to avoid paying tax on their investment gains. There are a few important things to keep in mind when using a TFSA;

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Millennials Devastated by Another Economic Crises

First the 2008 recession, now Covid-19. People in the millennial bracket (born between 1981 and 1996) have struggled with downturns throughout their working career. Home ownership, net worth, and real income are all at low points comparatively to previous generations. The timing of these events have been particularly tough, with 2008 being around the time

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Canadian Real Estate Market Surging

The idea of a real estate crash is daunting. During the pandemic, there was lots of talk regarding what could happen to the housing prices in Canada. Surprisingly, July shattered the all-time sales record with 62,355 transactions. This is triple the amount seen in April. “A big part of what we’re seeing right now is

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Consumer Confidence is Reaching Pre-Pandemic Levels

The Bloomberg Nanos Canadian Confidence Index, a composite measure of financial health and economic expectations, shows consumer confidence is at the highest point since mid-march. This means it has made up more than four-fifths of its losses from the height of the pandemic. A summary of this week’s survey shows about 29% of respondents saying

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