the Wealthy Canadian

I wanted to weigh in on a topic that Curious Cat blogged about yesterday, credit cards for university students.
Basically he’s saying that in an effort to market to students (and get some lifetime customers) credit card companies are offering credit that far exceeds the students’ means.  Many students have no jobs while they’re in school, [...]

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Debt is one financial matter that fills me with dread. The prospect of owing someone else money is like a crushing weight on my soul. But that being said, debt can at times be good thing.
I classify debt into three categories:

Debt that does not add value.
Debt that adds value.
Debt that does not [...]

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A few things caught my eye this week.

Zimbabwe, once the breadbasket of Africa, is now claiming that they only have two days supply of flour. That announcement was followed by the news that the plummeting Zimbabwe currency is now worth 1/30,000 of an American dollar – bad news if they debts in any currency other [...]

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It was a good run for a while there. Interest rates were low, housing prices were up (still are in most of Canada), mortgage-backed securities flourished as lenders lent to folks who would gladly pay more for a loan even though they could not afford it. The party is over, Americans are defaulting [...]

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The Bank of Canada announced this morning that they will be keeping interest rates unchanged.  Inflation is slightly above the goal of 2% that the Bank attempts to keep it at, but well within the 1 to 3% targeted range.
The Bank cites that upside and downside risks are basically balanced at this time.  The national [...]

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