Financial Literacy Series: Loans and Opportunity Costs
Loan payments + loan interest = opportunity costs Here’s how “fact-checked” financial literacy can misinform and miss the underlying issues. The picture is only a slight misrepresentation, but it’s an important narrative not to ignore. Loan and mortgage interest is calculated on a compound basis, not simply as taking the loan balance and multiplying…
Read MoreTake the Guess Work out of Tax and Financial Planning
Canadians – if you received CERB benefit payments in 2020, have you considered taking steps to reduce the taxes due on these benefits? If you have experienced an unexpected increase in income in 2020, have you considered taking steps to reduce your taxes? A basic tenet in the Income Tax Act (the Act) allows Canadians…
Read MoreMoney and Inflation
Note: originally published in May 2020, here’s a good reminder of how and where inflation rears its ugly head. What are the possible outcomes of the actions recently taken by government and central banks? How prevalent will inflation be moving forward? What will happen to the economy with all this debt? Should I be…
Read MoreCreating a Financial Roadmap for 2021
With the new year only two months away, I think it’s safe to say we’re over the physical, emotional, and financial rollercoaster of this past year and it’s never too early to start looking ahead to what’s next. Right now is the perfect time to re-evaluate your financial situation. After all, there’s nothing like a…
Read MoreMutual Funds 101
Mutual funds are the all-in-one package of the investment world and can hold stocks, bonds, money market instruments, and cash all inside one fund. As an investor, you can purchase units (or shares) of a mutual fund and gain exposure to the underlying investments all in one go, with the number of units you…
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