It’s true. I love my subscription services. Pay on a monthly basis for the convenience of never worrying about a bill – what a time saver! But, can it be a money waster? Definitely.
Subscription services are much more popular than ever before. From on-demand movies to pre-made meals, the convenience of these services is incredibly attractive to time-starved individuals. But the accumulation of “small” conveniences can add up to much more than what you’d expect.
As much as I enjoy my Netflix, Sirius Radio and GoodFood deliveries to work each week, I felt like I was losing track of all my ongoing expenses. After completing an audit of my credit card statements, I realized that I was duplicating a lot of my conveniences (why do I need 2 meditation app subscriptions?)
Cancelling a few of the underutilized services felt like a load off my financial shoulders, that I didn’t even know were dragging me down.
I suggest a periodic audit of your own time-saver expenses. You’d be surprised at the money you could be saving. Go that extra step and set up an automatic savings plan for the money that you’ve freed up. You’ve already proved to yourself that you won’t miss it!
Read “Subscription services make life easier, but costs can add up.” on Yahoo Finance.
Every year there has been new global initiatives to protect our environment and rightfully so. Latest environmental studies show that pollution and carbon emissions will lead to substantial changes in our earth by as early as 2050. It is our duty as humans to reverse the effects that we have had on the earth and prolong its existence for future generations.
Canada has taken a firm stance on reducing its ecological footprint. Currently there is a plan in place to ban all single use plastics in Canada by the year 2021. The following article in The Globe & Mail touches on some of the plastics that cause harm in our environment, why recycling may not be enough and how we can be better to our environment.
Join Paul Zammit, the Nancy Eaton Director of Horticulture at the Toronto Botanical Garden. He is a regular speaker at garden clubs and horticultural trade shows across Canada and in the United States, as he discusses:
- Inviting Guest into the Garden, the Importance of Creating Habitat for Pollinators
- Promoting biodiversity in the Home Garden
The video below is a full recording of this month’s Lunch & Learn workshop that took place on June 18, 2019 at the Thornhill Golf and Country Club.
The McClelland Financial Group won the prestigious AGF Award for Engagement, Loyalty and Client Care. Making us the top performing office in Canada.
“In his book The Ages of the Investor, William Bernstein describes a mythical employer named Uncle Fred who offers investors a retirement savings scheme determined by the flip of the coin. One side of the coin results in a +30% annual gain while the other side gives you a -10% loss in a given year.
Since the coin toss gives you a 50/50 shot at each outcome, this would give investors a compounded annual return stream of around 8.2% with a 20% standard deviation, not too far from the actual long-term results in the stock market.
Now let’s say you decide to contribute $1,000 each year for the next 40 years into Uncle Fred’s scheme. And let’s further assume the coin flip works out to give you 20 positive return years in a row followed by 20 negative return years in a row. In this scenario, you would end up with a little more than $100,000. Not bad, but you barely kept up with the long-term inflation numbers. ”
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Michael joined The McClelland Financial Group of Assante Capital Management Ltd. in 2019 as a Strategic Associate. Previously he has worked a wide variety of roles such as Insurance Analyst at TD, Chess Instructor, and Finance Tutor. He graduated in 2016 with a Bachelor of Commerce – Specialized Honours in Finance from York University and as of 2018 has successfully passed all 3 levels of the CFA program on his first try. Michael has a constant thirst for knowledge, is always reading about finance and truly has a passion for the financial service industry.
Outside of work Michael enjoys reading, playing guitar, hockey, learning new things, and watching old movies.