Personal Finance Canada

We chat about real estate, mortgages, and everything related.

It’s Monday, the start of a new week.

Ask your embarrassing, silly, or worrisome questions. Come learn and discover without judgment.

The average asking rent in Canada reached another record high of $2,078 in July. Rents increased 8.9% annually, the fastest pace of growth of the past three months. The 1.8% increase in average asking rents over June represented the fastest month-over-month growth of the past eight months.

I'm curious what products and services everyone uses. I like trying out new services, but it seems like the big banks are pretty effective at squashing competition.

I'll go first: Chequing - BMO Savings - Wealthsimple Investing - Questrade with Passiv Credit cards - BMO, Costco, Amazon

I have tried Brim (credit card) and Koho (kind of a chequing account), but eventually dropped them because they couldn't effectively replace BMO.

I'm interested to know everyone's experiences with their banks and other financial service providers.

Edit: This thread has been amazing! Thanks for all the replies!

Finance is a combination of luck, good/bad decisions, and a little bit of chance!

Let’s talk about your ups and downs! What successes did you have this week? Who messed up?

In this episode, we tackle the timely topic of higher interest rates and their potential impact on investors' decisions. With rates soaring to unprecedented levels, many are tempted to veer off their investment paths in pursuit of short-term gains. But is this a rational choice? We break it down and offer invaluable insights into why staying the course might be the wiser option.

https://rationalreminder.ca/podcast-directory

Come talk about your job, your salary, and everything related to it.

It’s time to talk about investments, no matter how diverse they may be. Whether it’s in stocks, cryptocurrencies, ventures, let’s discuss them! Ask questions, discuss the markets, or compare your portfolios.

Italy dealt a surprise blow to its banks and sent shockwaves across the sector in Europe by setting a one-off 40% tax on profits reaped from higher interest rates, after reprimanding lenders for failing to reward deposits.

We chat about real estate, mortgages, and everything related.

It’s Monday, the start of a new week.

Ask your embarrassing, silly, or worrisome questions. Come learn and discover without judgment.

The RedFlagDeals page has more details. As someone who doesn't have a Costco card yet, would this be something to hop on?

1-Year Costco Membership with C$45 Digital Costco Shop Card, C$40 Off an Online Order over C$250 and Travel Coupon

That's the benchmark price in Vancouver. Let's say one has $300k for a downpayment. What does the household income, pre-tax, have to be to afford that home?

I know there are online calculators, but I'm not sure how accurate they are, and I figure this group will be more knowledgeable.

Finance is a combination of luck, good/bad decisions, and a little bit of chance!

Let’s talk about your ups and downs! What successes did you have this week? Who messed up?

Come talk about your job, your salary, and everything related to it.

“There are some things people shouldn’t worry about,” he said. “This is one.”

“Berkshire bought $10 billion in U.S. Treasurys last Monday. We bought $10 billion in Treasurys this Monday. And the only question for next Monday is whether we will buy $10 billion in 3-month or 6-month” T-bills, Buffett told CNBC.

Buffett did note that the concerns are valid though but not enough to change his views on U.S. Treasurys and the dollar

It’s time to talk about investments, no matter how diverse they may be. Whether it’s in stocks, cryptocurrencies, ventures, let’s discuss them! Ask questions, discuss the markets, or compare your portfolios.

Treasury Secretary Janet Yellen called the downgrade "arbitrary".

“Fitch’s decision does not change what Americans, investors & people all around the world already know: that Treasury securities remain the world’s preeminent safe & liquid asset, and that the American economy is fundamentally strong,” Yellen has said.

“Continued migration to the province, along with our relative affordability, has supported the stronger demand for housing despite higher lending rates,” said Ann-Marie Lurie, the board's chief economist, in a news release.

“At the same time, we continue to struggle with supply in the resale, new home and rental markets resulting in further upward pressure on home prices.”

We chat about real estate, mortgages, and everything related.

Company says an error is affecting some Meridian Credit Union customers

It’s Monday, the start of a new week.

Ask your embarrassing, silly, or worrisome questions. Come learn and discover without judgment.