Month: January 2018

Worry = Higher Interest Rates + Covering Monthly Bills

According to a recent Ipsos poll conducted by MNP LTD., Canadians are increasingly worried about their ability to repay their debts. Since interest rates first rose in July, households across the country have noticed their budgets tightening as they struggle to keep up with expenses and manage other rising costs. Jumping eight percent since September,…

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You’re not as rich as you think

With Canadian policy makers led by Governor Stephen Poloz increasing the benchmark overnight rate to 1.25 percent last week, marking the highest level since the global recession and their third hike since July Canada also became the first major central bank to move ahead with a rate increase in 2018. However central bank officials also…

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Are Canada’s Central Bankers out of touch with Main Street or what?

In spite of a recent report issued earlier this month by the Institute of International Finance (IFF) that the world is swimming in a record $233 trillion of debt, soaring to a record $233 trillion in the third quarter of 2017 Canada’s central banker went ahead today anyways, raising rates by another .25% to 1.25….

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Thinking wisely and acting foolishly

A new CIBC survey shows a quarter of Canadians say paying down debt is their top personal finance priority for 2018 as has been for the previous seven years. And we know how well that’s been working out for households in this country. So is there any reason to believe next year will be different?…

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Richer but More Indebted; The New Reality

According to a report released December 7, 2017 by Statistics Canada median family net worth was $295,100.00 up 14.7% from 2012 and more than double from 1999. The Survey of Financial Security marks the first time since 2012 that the data agency has taken an exhaustive look at the financial lives of Canadians.  A person…

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