Locnest helps put a roof over renters’ heads

Sébastien Barrillier of Locnest talks about how their model offers a simple solution to the security deposit problem

Locnest helps put a roof over renters’ headsSebastien Barrillier is president of Locnest. What is Locnest and how does it work? Barrillier: Locnest provides lease guarantee services to Canadian landlords and tenants. Our lease guarantee can replace security deposits in jurisdictions where they’re permitted and act as a guarantor or co-signer in jurisdictions where they’re not, providing landlords with a secure and…

Millennials face challenges dealing with inheritance

Shawnette Fraser of TD Canada Trust says its important to remember that there are emotions at play

Millennials face challenges dealing with inheritanceShawnette Fraser is district vice-president of Calgary North for TD Canada Trust. How big of a market is the millennial generation these days for Canadian financial institutions? Fraser: Millennials make up a large portion of our population, and as customer service-based business we need to be looking to how we can best support them in their…

Calgary Financial Planning Firm Wins International Award

Ideal Life Experience Ltd. recognized as Best Boutique Financial Advisory for 2018

Calgary Financial Planning Firm Wins International AwardNews release Wealth and Finance International recognized a Calgary firm, Ideal Life Experience Ltd. as Best Boutique Financial Advisory for 2018. Earlier this year, Ideal Life Experience Ltd. was nominated by KPMG for People’s Choice Award & ATB Small Business of the Year Award! “I’m very humbled by the attention,” said Dean Kendall, CEO, “I…

Home equity lines of credit untapped by Canadian homeowners

But CMHC warns that tapping into your home equity can lead to greater indebtedness and wealth erosion

Home equity lines of credit untapped by Canadian homeownersAbout one in three home equity lines of credit (HELOC) are untapped in Canada and balances are significantly below the maximum available borrowing limit, according to a report released on Tuesday by Canada Mortgage and Housing Corp. CMHC said more than three-quarters of household debt is backed by real estate. It cited data from Equifax…

Was the 2008 financial crisis exacerbated by official misjudgment?

Countries as disparate as Ireland, Iceland and Greece showed that misplaced financial exuberance has many pedigrees

Was the 2008 financial crisis exacerbated by official misjudgment?We were on a train from London to Edinburgh when the financial crisis erupted in September 2008. The newspaper headlines were downright lurid and the detailed stories provided little comfort. A financial catastrophe was about to descend on all of us. As relatively recent retirees, we felt particularly vulnerable. There’d be no time or opportunity…

Canadians hold $1.69 in debt for every $1 of disposable income

Household credit market debt totalled $2,166.0 billion in the second quarter

Canadians hold $1.69 in debt for every $1 of disposable incomeCredit market debt as a proportion of household disposable income continues to increase in Canada but at a slower pace, according to a report released on Friday by Statistics Canada. The federal agency said household credit market debt (consumer credit, and mortgage and non-mortgage loans) totalled $2,166.0 billion in the second quarter. Mortgage debt reached…

Buying or renting a home – what’s the best choice?

The cost of renting will increase more rapidly than the cost of homeownership: report

Buying or renting a home – what’s the best choice?It’s the million-dollar question many Canadians will face. Should I buy or rent a home? Well a new report by Mortgage Professionals Canada suggests homeownership is an affordable alternative as rent costs rise. “The report demonstrates that the money Canadians are spending on monthly rent, if used instead to finance a home, would be a…

Indebted Canadians feeling more optimistic

As a country, we owe an astounding $599 billion on credit cards and other non-mortgage consumer debt: MNP

Indebted Canadians feeling more optimisticCanadians are feeling better about their level of debt and there’s increasing optimism on issues related to personal finance, says a new report released on Monday by MNP. Its Consumer Debt Index found that 61 per cent of Canadians feel their debt situation has improved, including 27 per cent who say their debt situation is…

Concerns about Canadian household debt easing

Accelerating disposable income and slowing mortgage growth are the driving forces behind the recent improvement

Concerns about Canadian household debt easingConcerns about household debt in Canada have come down a notch – the first real signs of easing indebtedness in decades, according to a report by RBC Economic Research. The Focus on Canada’s Household Debt report, by senior economist Robert Hogue, says the first quarter of 2018 experienced the largest quarterly drop in the debt-to-income ratio…

Buy Canadian economics carry a steep cost

While Canadians may embrace buying Canadian food products in retaliation for the trade dispute with the U.S., it won't come cheap

Buy Canadian economics carry a steep costCanadians are encouraging one another to go “Trump-free” – that is, to shop for groceries without buying a single American product. Even restaurants are jumping on the bandwagon by serving “Trump-free” dishes. These are interesting reactions in the face of Washington’s somewhat contradictory foreign trade policies. In a nutshell, here’s what happened following the G7…

Deficit spending is no free lunch; it’s a bill to future taxpayers

The government should stop kicking the can down the road and reduce federal spending now to avoid future tax increases

Deficit spending is no free lunch; it’s a bill to future taxpayersBy Charles Lammam and Hugh MacIntyre The Fraser Institute The federal government ran a $19.4-billion budget deficit in 2017-18, according its fiscal monitor. And this government’s appetite for deficit spending shows no signs of relenting. In fact, there’s no plan to balance the federal budget for the next three decades. With deficits becoming common again,…

‘Bad things happen to good people’

Debt woes began with 2013 flood, followed by her husband’s unexpected death

‘Bad things happen to good people’Special Report Part 5 in our five-part series Back in Balance Name: Linda Penney Age: 59 Occupation: Dining room supervisor at a facility for senior citizens, part-time tax preparer, part-time insurance sales Two brutal years of turmoil began for Linda Penny in 2013. She was forced out of her home, her dream of opening a new…

Fraudster ruined woman’s plans for early retirement

Troy Media talks to everyday Albertans who are working to become debt free

Fraudster ruined woman’s plans for early retirementSpecial Report Part 4 in our five-part series Back in Balance Name: Sandra (not her real name) Occupation: Federal public service employee Age: 58 Sandra was lonely, depressed and anxious after the painful separation from and then death of her former husband. Her friends suggested she look for a companion on a dating website, someone who could her…

Injury and job losses push Calgarians to live off credit cards

As people dig out from Alberta’s worst recession in three decades, Troy Media talks to everyday Albertans who are working to become debt free

Injury and job losses push Calgarians to live off credit cardsSpecial Report Part 3 in our five-part series Back in Balance Name: Linda Pierce Age: 53 Residence: Calgary Occupation: Office administrator At one of the lowest points in Linda Pierce’s 10-plus-year debt roller-coaster ride, she worked three part-time jobs while raising three teenage daughters. Amid it all, she suffered an ankle injury that required surgery, a…

Surprise tax bill in the mail was the final straw

Four Albertans rebounding from debt: ‘I was losing sleep and avoiding phone calls from unknown numbers’

Surprise tax bill in the mail was the final strawSpecial Report Part 2 in our five-part series Back in Balance Name: Amy Mahon Occupation: Mother of four children, full-time administrative assistant for Alberta Health Services Age: 41 Amy Mahon remembers her breaking point. It was the day she opened a letter from the Canada Revenue Agency and read that she owed $5,000 in back taxes.…
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