New grocery store plans to open this year

Buy Low Foods expects to open, if all goes well, before the end of the year

New grocery store plans to open this yearClarion Staff People in Kindersley and area are going to have another grocery option before the end of 2018. Buy-Low Foods is preparing its new space in the Kindersley Mall. Buy-Low Foods will become one of the mall’s anchor stores and it is taking over the space most recently occupied by another grocer. Peavey Mart…

Lack of financial literacy skills hurting Canadians

MNP survey says without necessary skills, Canadians are easily lured into debt

Lack of financial literacy skills hurting CanadiansA lack of skills and education are contributing to surging consumer debt in Canada, says a new survey by MNP Ltd. Survey results, which were released on Tuesday, said 85 per cent of Canadians agree that financial literacy in Canada is lacking, and this lack of knowledge is contributing to Canada’s consumer debt problem (87…

Calgary summit to focus on aligning wealth with social change

Nov. 16 event to bring together leading experts on a variety of issues around impact investing

Calgary summit to focus on aligning wealth with social changeThe time is ripe for aligning wealth with social change, according to the upcoming fourth annual Capital for Cause Impact Investing summit in Calgary on Nov. 16. Organizers of the event say the summit brings together leading experts on a variety of issues around impact investing. The purpose is to provide relevant and accurate information…

Canadians worried about rising interest rates

MNP report says millennials have never experienced a time when credit wasn’t cheap and easily accessible

Canadians worried about rising interest ratesCanadians are increasingly fearful of interest rate hikes, according to the latest MNP Consumer Debt Index, which was released on Tuesday. MNP said the fear of a rate increase has intensified over the past few months. One-third of Canadians express concern that rising rates could move them towards bankruptcy. That’s a six-point increase since June.…

Millennials giving up on ever owning a home in a Canadian city

It now takes 53.5 per cent of your income to service the costs of buying a single-family home

Millennials giving up on ever owning a home in a Canadian cityThe proportion of household income needed to service the costs of a single-family home grew to 53.5 per cent in the first quarter of 2018, according to a report released Wednesday. And that is one reason Canadians, especially millennials, are abandoning their dream of ever owning housing in the city and and are now looking to…

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…

Canadians expect to spend more this Christmas shopping season

Many shifting back to in-store shopping, says new report from PwC Canada

Canadians expect to spend more this Christmas shopping seasonChristmas will soon be here and in many ways the shopping season has already begun. A new report says Canadians will spend an average of $1,563 this Christmas shopping season, a 3.7 per cent hike over the previous year. According to PwC Canada's 2018 Holiday Outlook report, eight out of 10 Canadians plan to spend…

Canadian Tire loyalty program adding Husky gas stations

Triangle Rewards is a no-fee loyalty program associated with Canadian Tire, Sport Chek, Mark's and Atmosphere

Canadian Tire loyalty program adding Husky gas stationsCanadian Tire is expanding its Triangle Rewards loyalty program to include Husky gas stations in the country. The company announced on Wednesday that this will give Canadians the ability to earn more electronic Canadian Tire Money (CTM). “We're thrilled to partner with Husky and expand the reach of our loyalty program, adding more than 400…

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…

Canadian average net worth growing but interest rates a challenge

‘Canadians paid $9.0 billion more in interest charges in 2017 than they did the prior year,’ says Environics Analytics report

Canadian average net worth growing but interest rates a challengeAverage household net worth in Canada continues to grow but higher interest rates are putting increased pressure on discretionary spending, according to a new report released Monday by Environics Analytics. “For many Canadians the rising interest rates over the past year have already cost them the equivalent of an extra mortgage payment,” said Peter Miron,…

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…

Canadians pay a whopping 2,112% more in taxes now than in 1961

We pay more in taxes than we do for life's basic necessities like housing, food and clothing

Canadians pay a whopping 2,112% more in taxes now than in 1961Think you’re paying way too many taxes these days? A report released on Tuesday by Canadian public policy think-tank the Fraser Institute supports that sentiment. Its Canadian Consumer Tax Index found that the average Canadian family spent 43 per cent of its income on taxes in 2017. It said the total tax bill of the…

Getting out from under Ontario’s high electricity rates

Premier Doug Ford's new government should cancel existing renewable energy contracts, not just future deals

Getting out from under Ontario’s high electricity ratesBy Elmira Aliakbari and Ashley Stedman The Fraser Institute If its recent throne speech is any indication, Ontario’s new government wants to reverse past mistakes and reduce electricity prices for Ontarians by cancelling 758 expensive green energy contracts with renewable generators for sources such as wind and solar. According to the government’s press release, this…