Welcome to my latest Weekend Reading edition – one that kicks off Financial Literacy Month in Canada for this year. #FLM2016. Earlier this week I shared some thoughts from my inner minimalist and I revisited a stock I started buying more than six years ago (and haven’t stopped since) – Bank of Nova Scotia.
Anything you’d like to read about on my site during Financial Literacy Month? If so send me a comment or send me an email. I’ll add it to my writing to-do list. I hope to share a new dividend income update next week and I’m starting to look at what are my favourite dividend ETFs – for you to consider for your portfolio – so stay tuned for that.
Until next time, enjoy your weekend,
Make sure you follow me on Twitter this month where I’ll share some of my favourite money saving tips and more using #FLM2016. Join over 4,000 people who follow me on Twitter.
A reminder about a great resource for all things money is the Financial Consumer Agency of Canada. They have a huge database of resources here.
I like what Frances Woolley (professor of economics at Carleton University) wrote recently: “Financial literacy education tries to remove that last obstacle, self-discipline, by lecturing people about the virtues of managing money and debt wisely. But, for the most part, it does not work.” People absolutely have to want to change. Adult behaviours are tough to alter.
- an appealing source of income to fight market volatility,
- a major contributor to total return, and
- fighting monetary policy and general inflation.
Movevator told us the truth about borrowing – it’s from your future self.
Mr. Market doesn’t like surprises and neither does Steadyhand investments. Here is what this firm is doing should Donald Trump win. Scary thought. I thought Halloween was over??
Some inspiring news and interesting results from Tangerine’s latest survey here. “When it comes to young adults (aged 27-34), Tangerine’s survey found that 68 per cent are actively saving money using a savings account, RSP account or TFSA (Tax-Free Savings Account), and they are putting away $270 a month on average.” Well done.
Cait Flanders hit on what I also believe is the cornerstone of intentional living or living in general – a focus on healthy relationships.
Michael James on Money reminded us that financial incentives (within the financial industry) are powerful motivators.
What do investors complain about the most? Big Cajun Man has a top-5 list.
Thanks to fan of this site Ken Kivenko for digging up this oldie but goodie article about risk-ratings associated with ETFs in Canada. Basically, the article is stating the onus remains on the investor to do their due diligence with any investment choice. This is because the disclosure information about ETFs or other funds remains very grey to shady at best. No wonder financial consumers remain hoodwinked – the deck is stacked against them.
Boomer and Echo asked what’s in your professionally managed portfolio. My answer is absolutely nothing. So, I agree with them: “…why would you not build your own ETF portfolio or use a robo-advisor?” A reminder you can go for a risk-free 30 day trial with $1,000 of someone else’s money here with ModernAdvisor.
Ben Carlson said don’t be afraid of market all-time highs. You can summarize his article this way: Most of the time markets continue to rise from all-time highs so you only know “the top” in hindsight. My advice to you? Just keep saving and stay invested. Less to worry about this way.
How to Save Money provided some ideas to save money on airport parking and transit costs. My top tips? Get a friend to help you out or travel with someone else to split the costs when you can. Use hotel and airport shuttles (in the article by Stephen). Use public transit when and where it makes sense. We did the latter on our recent trip to Vancouver. We used the money saved to enjoy a few drinks on a patio when we arrived.
Here’s a plug for my friend Preet Banerjee’s Money School YouTube channel. Great for #FLM2016 and beyond. Subscribe away!