We have to start demanding that politicians start making some tough choices
Fifty-seven thousand dollars. That’s the average amount each Canadian will owe in provincial and federal government debt by the end of the year. It’s not just the rich or big corporations that will be mopping up this budget mess if politicians don’t take some air out of their bloated budgets. Politicians are already starting to…
Rising prices may be increasing their allure but there are considerable risks
The value of cryptocurrencies such as Bitcoin, Ethereum and others recently hit new record highs, in the thousands of dollars per unit. This escalation has attracted more speculators, further boosting prices over the past several months. Much of this is the result of investors fearing they will miss out on a chance to profit. While…
Most Canadians live beyond their means
Most Canadians are living beyond their means, with a debt-to-income ratio of 181 per cent. More than half are within $200 of not being able to cover their bills and loan payments. These kinds of statistics make Faculty of Education professor Damien Cormier uneasy and prompted him to launch a research project to boost financial literacy in young…
What you tax more of, you get less of
Calls by self-identified progressives and others who purport to champion equity, compelling everyone to pay their fair share, have grown louder and more strident. It seems these social justice warriors have discovered previously unknown inner fiscal conservatism, with their usual zeal for redistribution and punishment for those who they deem have excessive wealth. It’s wealth…
How criminals are conning people out of millions posing as the CRA
“They were so convincing that in minutes I had gone to the corner store, bought $500 worth of prepaid credit cards and read the numbers to a voice at the other end of the phone.” A client shared this story with me nearly in tears, which were a combination of anger and embarrassment. Over the…
The stakeholder-shareholder debate in finance has narrowed down to a false dichotomy between good capitalism and bad capitalism. Good capitalism means funding green energy to fight global warming, while bad capitalism means investing in fossil fuels, tobacco, or other “sin stocks.” However, the economic downturn should be a wake-up call to investors regarding the hidden…
Researcher studies tools for recovery from tax clinics to guaranteed basic income
Financial strain is affecting Canadians’ mental and physical health and addressing it will be key to the country’s post-COVID-19 social and economic recovery, according to public health professor Candace Nykiforuk. Nykiforuk and her team received funding from the Canadian Institutes of Health Research to study ways to address the health impacts of the pandemic related to…
We crave, mythologize, demonize and fight wars over money. Why can’t we just treat it with respect and maintain harmony in the home?
My husband and I once got into a mild argument over finances. It started with calculating costs for a trip east with friends to see a football game. It ended with a tally of summer bills and how on earth they would ever get paid. This happens in countless households. Money – or lack of…
In the days before credit cards, before microwave machines, before The Ed Sullivan Show broadcast across the night TV screens, bread was a dime, pop a nickel or less, and my grandfather worked for a mill in the Canadian great northwest. Years ago, I would visit my grandfather in his Richmond, B.C., apartment. We would…
Study shows those living with disabilities average 25% less in assets and COVID-19 is making the situation worse
When sociologist Michelle Maroto came across a Toronto Star article about an Ontario woman struggling to make ends meet while battling Type 1 diabetes, she knew the story was just the tip of the iceberg. Anna Costa was juggling four low-paying jobs without benefits, and after paying more than $300 per month for insulin and blood tests…