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All items tagged with: Debt Management

A Little Less Grinch: Breaking Interest Rate News

Posted: December 04, 2018
Posted in: Strategic Thinking, Current Issue , Debt Management, interest rates, Bank of canada, Steven Poloz, prescribed annual interest rate

Will Bank of Canada Interest rate setting impact your holiday euphoria? Bank of Canada’s Steven Poloz announced today that the overnight rate would remain at 1.75%.

Shopping Spoiler Alert: Canadians Aren’t Saving Enough

Posted: December 04, 2018 By : Evelyn Jacks & Beth Graddon
Posted in: Strategic Thinking, Current Issue , Debt Management, statistics canada, interest rates, Bank of canada, retirement savings, Steven Poloz, household savings rate, disposable income, Financial Planning Standards

In the holiday spirit yet? This news might dampen it: on Friday November 30, Statistics Canada released a report on GDP, income and expenditure for the third quarter of 2018. The big news? In 2018, Canadians have had the worst household savings rate on an annual basis since 2005, averaging only 1.4% over the past year. For the third quarter of this year, the household savings rate was a mere 0.8%; the lowest quarterly level since early in 2017.

High Taxation Has Implications for Economic Growth

Posted: October 23, 2018 By: Evelyn Jacks
Posted in: Strategic Thinking , Personal Tax, Debt Management, Wealth planning, investment, Evelyn Jacks, corporate tax, economic growth, federal budget, Canadian economy, tax education, finance canada, annual report, Tax Foundation

Exactly what is the effect of high taxation on long-term economic growth in a country in which an aging population has limited capacity to pay more tax? It’s an important consideration in light of Finance Canada’s annual report, released on Friday October 19 and this week’s PBO Report.

How Will USMCA Impact Average Canadians?

Posted: October 02, 2018 By : Evelyn Jacks & Beth Graddon
Posted in: Strategic Thinking , Debt Management, interest rates, Bank of canada, Investing, Trudeau, Trump, NAFTA, trade agreement, Canadian dollar, Steven Poloz, dairy industry, free trade, USMCA, United States - Mexico - Canada Agreeement, Canada, United States, dairy import, automotive tariffs, trade tarifs, manufacturing sector

The new NAFTA deal—now called USMCA—will no doubt make positive contributions to the Canadian economy and investors will appreciate the improvement in market uncertainty. But, there are also some points of concern, including impacts to specific sectors and looming interest rate hikes. Plus, a duty-free limit increase that improves ease of holiday shopping, but could have economic repercussions.

The Impact to Canada’s Economy if NAFTA Fails

Posted: September 24, 2018 By : Beth Graddon & Evelyn Jacks
Posted in: Strategic Thinking , Debt Management, Financial Literacy, DAC, GDP, Bank of canada, distinguished advisor conference, Canadian economy, interest rate, inflation, financial education, Trudeau, employment rate, Trump, NAFTA, trade agreement, tariffs, job creation, U.S import, U.S. export, manufacturing industry, dairy industry, free trade, United Nations

The NAFTA stalemate is important. Should Canada fail to forge a favourable deal that addresses these issues, the nation’s slow economic growth is likely to face further decline, and Canadians are going to feel the pinch on their pocket books and may, in fact, lose jobs. So what’s holding back a new NAFTA deal? How can you help investors in the meantime?

New Mortgage Options for the Self-Employed

Posted: September 10, 2018 By : Beth Graddon
Posted in: Strategic Thinking , Debt Management, Financial Literacy, self-employed, Evelyn Jacks, mortgage, entrepreneur, mortgage down payment, mortgage lenders, proprietor, qualifying for a mortgage, self-employed mortgage, Canadian Mortgage and Housing Corporation, CMHC, applying for a mortgage, Proof of Income Statement

Single, self-employed Canadians have struggled with mortgage lending requirements for many years. But that’s all about to get easier starting on October 1, as new guidelines will improve borrowing eligibility of current or aspiring proprietors.