Archive for December 2020
Net Worth Update: 2020 Year-End Review
Back in 2012 I decided to start sharing my net worth updates twice a year. I’ve always been transparent with my finances because I think it’s helpful for readers to know where I’m coming from and how I manage my own money. I’m a real person and wrestle with financial decisions just like everyone else.…
Read MoreWeekend Reading: 2021 Financial Goals Edition
I wasn’t sure what to expect when I quit my job last year to focus on blogging, freelance writing, and my fee-only financial planning business. My top priority was to make sure we were able to maintain our current spending and savings rate. In other words, I didn’t want this transition to have any negative…
Read MoreHow Has Your Food Spending Changed During The Pandemic?
The Consumer Price Index (CPI) measures changes in prices paid for a basket of goods and services (i.e., inflation). For the past three decades the Bank of Canada has successfully targeted an inflation rate of between 1% and 3%. The latest figures show year-over-year inflation at 1.9%. But as you know, our personal inflation rate…
Read MoreWeekend Reading: $100,000 Lifetime Loss of CPP Edition
Fewer than 1% of eligible recipients choose to take their CPP benefits at 70. Most Canadians take CPP at age 60, as soon as they’re eligible, perhaps unknowingly giving up substantial lifetime income. Dr. Bonnie-Jeanne MacDonald, Director of Financial Security Research at the National Institute on Ageing, wants to change the conversation around when to…
Read MoreWeekend Reading: 0.99% Mortgage Rate Edition
HSBC Canada made history this week when it announced a 0.99% mortgage rate – the lowest advertised rate ever offered in Canada. The 0.99% mortgage rate is available for high-ratio insured purchases (i.e. for those putting less than 20% down). It’s not a fixed rate, but a steeply discounted variable rate of prime minus 1.46%.…
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