Why can’t Canada also address student debt?

America is taking a tentative step to help students. Canada needs to do the same

Why can’t Canada also address student debt?American President Joe Biden is wiping US$10,000 in federal student loan debt for those with incomes under $125,000 a year or households that earn less than $250,000. He is also cancelling an additional $10,000 for students who received federal Pell Grants to attend college. For context, more than 45 million Americans collectively owe over $1.7…

New or enhanced tax credits up for grabs for Canadians

New or enhanced federal tax credits for surrogacy, first-time home buyers, and renovation expenses for multigenerational households moving ahead

New or enhanced tax credits up for grabs for CanadiansPlanning for the future can have many benefits if you know what’s up for grabs and can take advantage of programs and incentives. The federal Liberal government’s plans for new or enhanced tax credits for surrogacy, first-time home buyers, and renovation expenses for multigenerational households are moving ahead. The federal Department of Finance recently announced…

How to reduce the risk of phishing attacks

October is Cyber Security Awareness Month. But don't wait until then to incorporate security measures

How to reduce the risk of phishing attacksPhishing has evolved into the most effective social engineering attack hackers use to infiltrate organizations. Phishing aims to con employees into unknowingly downloading malware or revealing their access credentials. The best defence is our individual vigilance. Phishing.org defines phishing as “a cybercrime in which a target or targets are contacted by email, telephone or text…

Each Canadian owes $56,000 in government debt

We’re being bribed with our great-grandchildren’s money

Each Canadian owes $56,000 in government debtFifty-six thousand dollars. That’s the average amount each Canadian will owe in provincial and federal government debt by the end of the year. Much of this debt will likely be shovelled onto the backs of Canadians’ kids and grandkids. As columnist Chris Nelson warns, “we are no longer being bribed with our own money. We’re…

You are what you focus on

Sometimes the biggest upgrade needed to help you see what’s possible is to ruthlessly shift what you’re focusing on most

You are what you focus onWe had a fabulous dinner party last weekend where lively conversations and interesting perceptions were shared about relationships, friendships and new experiences. At the end of the wine, there was some agreement that the biggest obstacle facing most people who find themselves with a bit of a bleak outlook is that they’re inviting in that…

Are you still borrowing from the Bank of Dad?

And putting your parents' future financial security at risk?

Are you still borrowing from the Bank of Dad?Inflation and supply chain issues are putting affordability matters at the forefront for Canadians. People worry about the cost of childcare and entering the housing market. People planning for retirement or already in retirement worry if they have enough to live the lifestyle they hoped. The Bank of Canada has warned that the low rates…

Buying a home during the pandemic

It’s been a wild ride for home buyers

Buying a home during the pandemicIf your home is your castle, and a castle is a fortified residence to keep you safe, then Covid-19 has taught us an important safety lesson: Owning your own home means you become the literal gatekeeper to your own health. But it isn’t only our physical health that has been impacted by the pandemic. Our…

Bankruptcy and Insolvency Act must be updated to serve Canadians better

We need clear standards that ensure the accuracy of credit report information

Bankruptcy and Insolvency Act must be updated to serve Canadians betterThousands of Canadians undergo bankruptcy or undertake a consumer proposal to help manage their debts every year. From 2012 to July 2021, more than one million Canadian debtors used the insolvency system. The void within Canada’s insolvency legislation is deeply lacking in terms of specific references, standards or accountability concerning the accuracy of recording and…

Why millennials prefer do-it-yourself investing

Online financial education is changing the game, threatening to impact financial advisers

Why millennials prefer do-it-yourself investingOne-third of Canadian millennials prefer going solo when it comes to managing and investing their money. Online financial education and tools are changing the rules of the game, threatening to affect financial advisers in the same manner emails impacted mail carriers. A recent poll conducted by Finder.com revealed that 33.7 per cent of millennials prefer…

The economic dangers of a new inflationary era

Interest rates will rise dramatically to compensate financial institutions with effects lasting for years

The economic dangers of a new inflationary eraIt’s not entirely clear whether the Canadian and the global economies are heading for a new inflationary era. It may turn out that inflation is not only elevated from recent negligible levels, but escalates, steadily at first, and then dramatically, as it did in the 1960s until the early 1980s. If it does, the havoc…
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