How to protect your crypto from hacks + MORE Sep 23rd

There are more investment options in Canada than you can shake a stick at! Stay on top of the best returns right here.
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Take control of your finances with these budgeting tips for young adults + MORE Nov 28th

As you start your career and earn a living, you’ll have to figure out how to manage your money on your own. It’s not uncommon to look at your bank balance and wonder where all your money went, even though you just got paid. That’s why you’ll want to create a budget. According to an RBC p.... More »
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Canada’s Artisan Candy Companies Will Satisfy Your Sweet Tooth Nov 3rd

Candy is big business. Confectionery companies with operations in Canada are projected to earn nearly US$16 billion in revenue by the end of 2022, and the market is expected to grow by more than 30 per cent in the next five years. Big Sugar dominates (Nestlé, PepsiCo and Mondelez are among the top .... More »
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Half of Canadians plan to make cutbacks this holiday season, says new PayPal Canada survey Nov 17th

A new survey finds that while most Canadians are anxious about holiday season spending, a large number polled admitted they are too embarrassed to ask for financial help..... More »

How to manage and save money without a budget + MORE Nov 4th

“Stick to a budget” is one of the most common pieces of advice you’ll hear if you’re trying to save money. But not everyone wants to make decisions according to a spreadsheet—and there are many ways to manage your money that don’t involve a budget. Often, a simple, critical look at your .... More »

How to prepare your finances for coming to Canada + MORE Oct 27th

If you’re moving to Canada (or you’ve recently arrived), you’re probably learning new things about this country—including how our banking system works, how we handle our personal finances and how to find a place to live. The more you know about money, savings and buying a home in Canada, the.... More »
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.

The inflation mountain: What the descent may look like

It’s looking more and more like the 8.1% annualized inflation reading from June 2022 was the peak of post-pandemic price increases.

On Tuesday, Statistics Canada reported that Canada’s inflation rate cooled to 7% in August. Experts had been predicting a slight decrease to 7.3% (continuing the downward trend established by the decrease to 7.6% in July). The lower-inflation news was welcomed by several economists as proof that contractionary monetary policy by the Bank of Canada (BoC)was achieving its goal, and that the worst-case scenario of massive interest rate increases were now unlikely to be required.

The significant drop in inflation was quite unexpected after last week’s 0.1% CPI increase in the U.S.

Here are the major takeaways from Canada’s Consumer Price Index (CPI) report for August:

Gasoline prices fell 9…

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2022 has been a tumultuous year for cryptocurrency markets. Significant and sustained price declines have shrunk the overall crypto market value below $1 trillion—a significant retreat from its all-time high of $3 trillion in November 2021. (All values in U.S. dollars.)

What has intensified investor pain further is the unabated cyber-theft that has drained billions of dollars from crypto holders’ accounts. Since crypto transactions are usually irreversible, stolen coins are nearly impossible to reclaim.

Cybercriminals pilfered roughly $4.5 billion worth of digital currency in 2021, more than twice the 2020 total. In the first half of this year alone, nearly $2 billion worth of crypto has been lost to hacking, clocking a 60% jump in such instances.

Crypto theft remains a growing problem. As more investors turn to digital assets for wealth creation or to diversify their portfolios, learning how to protect crypto holdings has become a crucial part of investing. Here’s your essential guide to keeping your crypto safe…

Continue Reading On moneysense.ca »

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