Is Canada An Economic Safe Haven?

Canada: Economic Safe Haven?Friday, August 17, 2012

This week on Money Wise we’re asking Canadians: How confident are you in today’s economy? After all, Canada emerged unscathed from the housing and investment bubbles that have ensnared our neighbouring nations – Germany’s Angela Merkel even praised our economic model as a potential solution for Europe’s woes.

Canadians, though, don’t seem to think we’re in a safe haven. With investor confidence dropping, distrust in banks rising and our youth failing to save – how are we faring on the economic home front?

Are You Confident In Our Economy?

Chalk it up to our cautious nature – despite Canada’s strong standing amidst U.S. and European economic upheaval, Canadians are wary at best when it comes to the monetary health of our nation.

A recent survey shows overall investor sentiment has dipped. Read on to see how July’s job losses and recent housing market insecurities factor into the feelings of unease.

Read Allan’s Blog | Are You Confident In Our Economy?

Hidden Bank Fees Are The Top Complaint

Do you really trust your bank? Canadian institutions have appeared pretty innocent lately in comparison to the bad behaviour of our international counterparts. However, consumers here are downright peeved with their banks – and hidden fees are to blame.

Find out how to resolve conflicts with your bank – and how to break up for the sake of your finances.

Read Diane’s Blog |Hidden Bank Fees Top Cause For Consumer Complaint

Why Young Canadians Need To Save Even More

According to a recent CIBC poll, 45 per cent of Canadians have no funds set aside for emergencies, leaving them vulnerable to taking on debt or pulling funds earmarked for savings. That number is even lower for the saving habits of young Canadian adults – and as workplace-provided pensions are becoming an endangered species, what will happen when this savings-challenged generation reaches retirement?

Read Melanie’s Blog | Why Young Canadians Need To Save Even More

And In The News This Week…

Financial Literacy and Kids: Start Them Sooner

Everyone knows how important it is for parents to support what their children are learning in school. This means sitting with them to do homework and making sure they are keeping their grades up. But what about financial literacy? Who is responsible for teaching kids about money matters?

Read Rubina’s Blog | Financial Literacy and Kids

Investing Habits Differ Between Men and Women: RBC Poll

Are women really less aggressive investors than men? According to a recent poll, not necessarily – however, it does find that when it comes to saving, men and women are motivated by different factors.

Read Rubina’s Blog | Investing Habits Differ Between Men and Women

Say No To Piggy Banks and Yes To Children’s Bank Accounts

Camp is over, fall activities don’t start for another month, and your children are getting bored. Rather than spending money trying to entertain them, why not use this time as an opportunity to teach your children how to SAVE money?

Read Kelvin’s Blog | Say No To Piggy Banks And Yes To Children’s Bank Accounts

What Is A Charge Card?

When it comes time to pay, you have more options than cash, debit or credit. Charge cards offer the security of a credit card without the risk of running into debt – and they offer a wide variety of rewards and fraud protection perks.

Read Penelope’s Blog | What Is A Charge Card?

Why You Need A Real Estate Lawyer When Buying A Home

So you’ve secured your down payment, found your dream home and have scored the best mortgage rate. Wondering about your next steps? From the initial property search to picking up the keys, a real estate lawyer can help you navigate through the process to a successful closing.

Read Nadezhda’s Blog | Why You Need a Real Estate Lawyer

Rewards Debit Cards: How Do They Work?

Canadians love their perks – and the popularity of rewards credit cards proves it. Now, rewards debit cards are getting in on the action. Often the result of a retailer and lender partnership, these cards offer payback opportunities for every dollar spent.

Read Penelope’s Blog | Rewards Debit Cards: How Do They Work?

 You Answered!

Ask and Win

This week we asked:

What affects your confidence in the Canadian economy?

61.5%
of you worry about the global impact of European economic instability.

21.3% of poll takers fret about events south of the border – is Canada’s situation truly different than the U.S.?

Finally, 15.4% find their economic confidence to be shaken by bad bank behaviour – scandalous headlines aren’t comforting.

 

 

Related Topics

Economic News / Personal Finance / Personal Finance News

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