With Financial Literacy month all wrapped up, we think it’s important to remember that improving financial literacy for all people should be a top priority for individuals, governments, and companies. With a better understanding of financial literacy, everyone is likely to be better off.
If you think Millennials have it tough these days, you’re not alone. Record-level student debt, rising home prices, stagnant wages, and the disappearance of workplace pension plans, are just a few of the challenges faced by today’s young people.
November is Financial Literacy Month in Canada. It’s the one month each year the spotlight is shone on financial literacy – or the lack thereof. While most people can read and write, far too many Canadians consider themselves financially illiterate. It’s hard to reach your long-term goals if you don’t know how to prepare a budget and regularly misuse your credit card. Here are our best tips towards financial success.
Last week, credit card giants, MasterCard and Visa, finally came to an agreement to cap interchange fees. The announcement is a major win for small businesses, who have been very vocal about high credit card fees. Although credit card fees will be capped at 1.5 per cent over the next five years, the deal falls short of a 10 per cent reduction across the board. Let’s take a look at whether small businesses believe lower fees will help their bottom line and lead to lower prices for consumers.
The Bank of Canada’s interest rate announcement last month was largely overshadowed by the shooting in Ottawa. This past week Bank of Canada Governor Stephen Poloz held his first news conference since the interest rate announcement on October 22nd. Under normal circumstances, the news conferences would have taken place on the same day as the interest rate announcement, but with security concerns top of mind, it was postponed. Let’s recap the announcement, as well as discuss our central bank’s fear of low inflation, and the impact it has for consumers.
There once was a time when small business credit cards were few and far between, but times have changed. Today small businesses have significantly more options to choose from. Small business is behind much of the economic growth in Canada, so it should come to no surprise credit card issuers are really making a push for their business. With so many credit cards out there, choosing the right one be a daunting task. Let’s take a look at what’s going on in the small business credit card space, as well as the benefits and factors to consider.