“The three biggest debts most people take on are their mortgage, student loans, and car loans.
A home isn’t guaranteed to appreciate but historically housing has beat the rate of inflation, it’s a form of forced savings, it’s the roof over your head, and it can provide some level of psychic income.
Student loans can be taken to the extreme but they generally offer the potential for higher earnings over the course of a career and better job prospects.
A car loan is the only one of the three that gives you a depreciating asset. It’s estimated a new car depreciates around 20% in the first year and 10% per year after that.”
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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.
“The three biggest debts most people take on are their mortgage, student loans, and car loans. A home isn’t guaranteed to appreciate but historically housing has beat the rate of inflation, it’s a form of forced savings, it’s the roof over your head, and it can provide some level of psychic income.”
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.