Tag: savings
For new investors, high-interest savings accounts offer a straightforward investment starting point. This post reviews Canadian banks, ranking them by interest rates while highlighting benefits, fees, and promotional offers for various savings accounts to aid financial growth.
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
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?
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