Category: Finance
The most crucial part of your financial journey is understanding that reaching your financial goal takes time and requires periodic investing, where the magic happens. This brings us to the concept of the time value of money, a significant tool to add to your financial toolkit. It can help you stay motivated by seeing the … Continue reading The secret to financial freedom and boosting your finances is to understand the time value of money
The world economy continues to navigate rising inflation after the 2019 pandemic. In response, the state’s monetary policy adjusts interest rates to control the prices of goods and services by decreasing or increasing rates as needed. Recently the “Bank of Canada reduced the policy rate by 25 basis points to 4.25%”. What does this mean … Continue reading How Interest Rate Fluctuations Impact Your Finances and How to Stay Ahead
The US News report ranks Canada in 2023 as one of the top three countries in the world for quality of life. Additionally, the City of Toronto is ranked globally as the 92nd most expensive city to live in, according to Mercer’s 2024 Global City Cost of Living report. This analysis is tailored for newcomers, … Continue reading Surprising Truth: How Much Income Does an Average Canadian Worker Actually Keep?”
Proven Tips to Pay off Debt and Stay Debt-freeThe cost of living in Canada has skyrocketed post-pandemic, negatively affecting young Canadians who are relying on their credit cards to augment daily expenses and gradually falling into perpetual debt. Recent data from Equifax shows that the average credit card balance owed by young Canadians has increased … Continue reading Soaring Debt crisis: The rise of credit card debts among young Canadians
universainsight image Understanding and implementing a multi-income approach can empower you to shape your financial destiny. In recent years, the cost of living in most economies has drastically increased due to inflation, wage stagnation, high interest rates, and record job losses. This makes it impossible for a single source of income to keep up with … Continue reading How many sources of income do you need to reach your financial goals and take control of your future?
For a first-time investor, deciphering all the nitty-gritty of investing can be challenging and overwhelming. For example, with the power of the internet, one can barely go for a few days without seeing financial ads like high savings accounts, gold or other commodities, cryptocurrencies, shares of companies and more. As a teenager, I remember watching … Continue reading Investment 101: The Why, How, and Where of Investing
IDFCFirstBank Saving is essential to personal financing, including investing, income, spending, protection, and other financial activities. Saving is the amount of money remaining after all expenses have been paid, and what we choose to do with it impacts our financial goals. From a young age, my parents have told me to save money; they would … Continue reading Why Saving Money Could Be Sabotaging Your Financial Goal?
universa insight 