You are so right – the cost of groceries has gone up 12.4% according to Stats Canada since January 2022 and with the continued trend that we are to experience a “mild recession” this year, we can expect the costs to rise a little more. Let’s go through five quick tips that will help lower your food expenses. 1. Go back to the old way of shopping – clip [...]
This is a very good question – and there are many other ways to make money instead of the traditional method of purchasing securities in the stock market. Let’s look at the top five. Remember, the key to investing wisely is to choose an investment that will monetize upon itself, to grow and compound over time. You want some type of appreciating asset that you can rely on to [...]
I always told my kids I would help them as best I could – but I never thought they would come back to live with me. I am 74 and I like living on my own and I don’t think I can afford to keep them here. Please help. (PS: they also have two big dogs and I have a 12-year-old cat – ouch!). Margaret I feel for [...]
Dear Money Lady Readers, Many of you have sent me emails with genuine worry about your retirement portfolios as we ride the waves of high inflation, lending rates, and low stock market returns. I want to introduce you to an alternative to securities, mutual funds or exchange traded funds (ETFs). Why not consider diversifying your portfolio in part with structured notes? There is something for everyone in the [...]
I often travel across the country doing speaking events and had the privilege of speaking to a charity in December. After the event, I spent some time with a group of ladies, (all over 70 years), who were very active in their communities. As I worked my way through the group, meeting all these wonderful women, I realized each one had single handily enriched their retirements by supporting a [...]
Many first-time home buyers have cooled off and ceased their house hunting searches as the market levels off with interest rates still climbing. Home prices have still not dropped down as low as some buyers were hoping for; and as we sit poised for another year, it is now anyone’s guess what will happen. Many economists say the interest rates will climb even higher especially with the Canadian prime [...]
So, let’s talk about what to do if you have low-income or maybe the occasional no-income situation and are finding it hard to save. What can you do to budget and save for future expenditures, let alone a retirement fund? It is much harder for those impoverished to improve their situation than it is for those in our middle-class, especially today. That being said, there are many poor that [...]
To answer you honestly – I’m not sure. Let me tell you why. Currently no one knows for sure where inflation is headed or whether it will continue to be volatile. The three-month trend is averaging 5.8% so there is no denying that it is a force to be reckoned with in 2023. Basically, economists and analysts, have very little experience with true inflation other than what we witnessed [...]
As you head into the balance of this year and make plans for 2023, we all challenge ourselves to do better in the new year. Lose weight, get more fit, balance your budget, pay off consumer debt, save to buy a home, the list can be endless with our self-improvement goals. Whether changes to your health or your wealth, the methodology is the same. In fact, I guarantee that [...]
Another great question! There are many different viewpoints on how to invest so let’s cover the basics and some questions you can ask your financial advisor to get you making money. Not everyone acts the same with loss and although we like to think we are rational in our decisions, the research and evidence suggests that all investors (and some advisors) tend to sometimes act irrationally with errors in [...]
