$8K money left on the table!

People didn’t file their tax for many reasons. One could be homelessness or just hardship that is too much to bear.  Here is a real-life story. I call him Joe to conceal his identity. He has been experiencing homelessness in recent years. Now, he is living in a shelter. His caseworker booked an appointment withContinue reading “$8K money left on the table!”

What a roller-coaster ride!

As soon as the market opens yesterday, my phone was buzzing with stock market alerts. Bank ETFs are down dramatically together with crude oil down, 10-year treasury yield and US dollar. Gold is up understandably. It is flashing recession in the minds of investors. However, the Nasdaq is up a little bit early when marketContinue reading “What a roller-coaster ride!”

Is inflation good for the banks?

It depends on how fast is the inflation. When interest rate is too low, it is hard for banks to charge more on loans. However, if the interest rate is raised too fast too high to fight inflation, it pushed a lot of potential customers out of the borrowing market. For example, mortgage rate isContinue reading “Is inflation good for the banks?”

Open a business bank account

I helped someone to open a small business chequing account recently. She and her husband are starting a small business. I suggested RBC digital choice business account because its monthly fee is $5 which is the lowest. She does all her transactions online so it fits her needs. We tried to apply online. After weContinue reading “Open a business bank account”

Are women better investors?

Happy International Women’s Day! Any discussion about gender is thought provoking. 😊 A Forbes article says so because women usually take the slow and steady approach to investing rather than taking too much risk and hoping to get rich quickly.  It does makes sense from this point of view. Let’s play the long game andContinue reading “Are women better investors?”

Apps to curb impulsive money behaviours

Many of us made impulsive money behaviors.  Some more and some less. Rather than feeling guilty and helpless, there is a solution. A recent Wall Street Journal Money Briefing podcast reports that some apps can help to curb those bad behaviors. It can remind us to take a break and asking ourselves “What’s my intentionContinue reading “Apps to curb impulsive money behaviours”

Oh no, I missed something for my tax return!

I am sure the above issue happened to many of us before. When we think that we have been thorough, there is still something we might miss because tax can be complicated. We only do it once a year and we could forget what we did before. First issue is missing tax slips.  Financial institutionsContinue reading “Oh no, I missed something for my tax return!”

Oh my, the government websites!

I was helping someone to register GST/HST account online for her small business. When she clicks register, it just went back to the original webpage. She and me looked all around but just can’t find the page to register online. She had to call. The service Rep on the call was nice, but what aContinue reading “Oh my, the government websites!”

The challenge to learn financial literacy

The key about learning is to keep the experience positive. 😊 The common and easy mistake is to make it a pain which I committed too often. Something comes very easy to some people could be quite challenging to others. It absolutely requires talent to explain how bond and interest work to a 7-year-old inContinue reading “The challenge to learn financial literacy”