I’m on vacation for the next two weeks. Globe and Mail personal finance reporters Erica Alini and Salmaan Farooqui will write this newsletter in my absence. See you in February! A reader recently contacted what he thinks is a contender for the best rewards credit card. “Take a look at the Scotiabank Gold American Express …
Could this be the best travel reward credit card? Read More »
A lot of personal finance exists in an idealized world where people keep debt to a bare minimum and take the maximum approach to saving and investing. We have just started a year where many people will compare their own situation to the ideal and feel like they fall short. Nothing good will come of …
In a tough year for personal finances, what’s normal for debt and savings? Read More »
The popular spending trend this year will be to say no much more than we have in recent times. Phew, right? If your friends and family are cooling your spending, you’ll have less pressure to try to keep up. I’ve read tons of economic outlooks for 2023 and one of the common themes was that …
The big spending trend in 2023 is to use the word “no” a lot Read More »
People pay for their items at a grocery store in Toronto on November 22.CARLOS OSORIO/Reuters I’m on vacation next week, so allow me to take this opportunity to wish you a happy holiday season. Thanks for reading and stay tuned for lots more personal finance and investment coverage in 2023. The Carrick on Money newsletter …
“There’s no fun twist on reality – 2023 will be brutal for many families” Read More »
For the last two newsletters of the year, I asked people from the investment, financial planning and real estate worlds to send me a summary of a trend or theme that, according to them, will be important in 2023. Here is the first batch of answers, which have been edited for length and clarity. Keisha …
Thus, the net worth of Canadians fell by approximately $331.7 billion between July and September. Shit, huh? Just over a year ago, as real estate prices and stocks soared, I asked in this newsletter if net worth was the most overrated statistic in personal finance. This question is just as relevant today. Net worth is …
Personal finance is often plagued by conditional “it depends” and “on the one hand” advice that fuels confusion. So let’s try something simple and straightforward for 2023 and call it the year of debt repayment. With mortgage rates and home equity lines of credit between 5 and 6%, you can be sure the best use …
A debt voyeur’s guide to average mortgage balances, lines of credit and more Read More »
There is an HSBC Canada branch opposite the building where the Ottawa office of The Globe and Mail is located. Working in the office, I used to occasionally stop in the branch to use the ATM. I was not an HSBC customer, but the bank was part of an ATM network that I had access …
RBC buying HSBC Canada is a loss for the banking public Read More »
At least two of the banks I deal with offer a free way to check my credit score online. I say at least because I have accounts in many banks and haven’t visited all of them lately. But if I want to check my credit rating, I know I have a few options. What do …
The financial landscape for families these days is so difficult that even the group representing the elite financial planners are a bit perplexed. FP Canada recently released the results of a survey on “discreet spending,” that is, money spent unconsciously or without prior planning. The survey found that 51% of people are concerned about their …
Enough with family conferences to reduce expenses Read More »
