New earners’ paycheques seem stretched in a million directions. Between debt repayment, housing and daily living expenses, the idea of saving – to say nothing of exposing those limited funds to risk – may seem entirely out of reach.
While there’s a wealth of investing information out there, newbies can feel completely overwhelmed by their options. Whether you want to start saving for retirement, dabble in stocks or just set cash aside for a rainy day, this week’s Money Wise guide can help.
Investing 101 For Beginners
The paycheques are rolling in, your daily bills are under control, and you’ve got a stellar budget – it’s time to take your money’s performance to the next level. Your first investment can even be thought of as another adult milestone, as you graduate from living paycheque to paycheque to padding your plans for the future.
What are the first steps to setting up a beginner investment strategy? Read on for these money management basics.
Read Allan’s Blog | Investing 101 For Beginners
How To Start An RRSP
If you’re just starting to set your savings priorities, you’ve likely heard how RRSPs are an invaluable way to grow money for the long term – and come with sweet tax benefits.
Depending on your income level, however, an RRSP isn’t always the best option. Here’s the lowdown on retirement savings options, and how to get started setting up your own RRSP.
Read Diane’s Blog | How To Start An RRSP
How To Assess Investment Risk
So you’re ready to start investing – but how do you feel about exposing your hard earned money to risk? They say no pain, no gain, and while it’s true that higher-risk investments can turn bigger profits, beginner investors should avoid getting in over their heads.
Here’s a great breakdown on the types of investment risks you may face, and how to assess whether you can afford to take them on.
Read Melanie’s Blog | How To Assess Investment Risk
Missed out on this week’s finance news? Get caught up here!
China Reforms 2013: The Economic Impact
China has announced sweeping reforms to some of its 30-year-old social and business restrictions, including its one-child policy and the government regulation of banks. What does this mean for the global economy, and should investors take a bullish stance on the Chinese economy?
Read Rubina’s Blog | China Reforms 2013
Black Friday 2013: How To Cross The Border For Cheap
Do you plan to cross the border for Black Friday 2013? Don’t spend hundreds more than you have to on transportation costs. From tours to skipping the hotel, here are a few ways to travel to the U.S. on a dime – and save your cash for the in-store deals.
Read Andrew’s Blog | Black Friday 2013: How To Cross The Border For Cheap
Small Savings Top Canadian Financial Regrets
If you could have a financial do-over, what would you fix? A recent Edward Jones poll finds 47% of Canadian seniors surveyed wish they had saved more for long term goals throughout their lives.
Read Jaclyn’s Blog | Small Savings Top Canadian Financial Regrets
The Financial Impact Of The Rob Ford Scandal
The Rob Ford scandal has made headlines internationally due to his admission of drug use, and multiple PR gaffes. Now, it’s increasing the city’s cost of borrowing, as investors wonder when infrastructure projects will take priority.
Read Penelope’s Blog | The Financial Impact Of The Rob Ford Scandal
Canada Ranks In Top 10 For Tax Stability
A PricewaterhouseCooper study finds Canada is among the top 10 nations for tax stability. However, our nation is still vulnerable to tax loopholes and potential tax fraud.
Read Sean’s Blog | Canada Ranks In Top 10 For Tax Stability
CREA Update: The Rate Hold Aftermath
CREA’s latest housing data update indicates the Fall market may have been driven by customers possessing a low rate hold.
Read Penelope’s Blog | CREA Update: The Rate Hold Aftermath
Why A Competitive Grocery Market Is Good For Consumers, Bad For Investors
Competition in the grocery market is heating up, as retailers undercut each other’s lowest prices. It’s great news for shoppers – not so much for investors. Here’s what consumers should know about Canada’s grocery industry, and whether such discounts will be sustainable for the long term.
Read Sean’s Blog | A Competitive Grocery Market
A Beginner’s Guide To Index Investing
Index investing can be a thorough, though low commitment way to diversify your investments and maximize your market exposure. Here are two good strategy breakdowns for beginners.
Read Gordon’s Blog | A Beginner’s Guide To Index Investing
This week, we asked our dear readers:
What is the biggest challenge for beginner investors?
67.4% say choosing their investment method is the toughest part – should they get into stocks, earning interest options, or both?
15.2% say they want a better understanding of how to control their exposure to risk.
12% would like some help ensuring their investments are on track to accomplishing their future financial goals, while 5.4% aren’t sure whether they’re over their heads and should reach out to a pro.
Want your chance to WIN? Answer this week’s Q: