Even if you’re doing well financially, TikTok has a funny way of making you feel broke. That cognitive dissonance is something financial advisors call “money dysmorphia,” and social media is making it worse. Young Canadians are bombarded with people online flaunting their shopping hauls and tropical getaways, and feel pressured to spend more money on things that make them feel rich in comparison. (May 9 Edition)
For Canadian investors, there’s no place like home. Canadian companies make up 2.6% of the global market but they dominate about half of Canadian investment portfolios. “Canadians have a home bias,” Ashish Dewan, portfolio consultant at Vanguard Canada, said. Vanguard suggests putting only around 30% of your equity investments in Canadian stocks, with the rest international. (June 27 Edition)
Master the art of splitting expenses through South Korea’s tradition of "gyemoim" groups. Here's how it works: members contribute an agreed-upon amount each month, typically ranging from $10 to $50. For example, if you pitch in $30 monthly over five years with two pals, that’s a total of $5,400 saved up. As the savings grow, the gang decides together what fun stuff to splurge on. (June 27 Edition)
A cheaper way to buy pricey stocks has entered the (Canadian) chat. It’s called fractional trading, and it lets retail investors (who make up 45% of all trades on the TSX) buy a small portion of a stock that would otherwise be way too expensive. But experts warn that it can become addictive, potentially leading to more losses than gains if you invest in too many companies. (Aug. 13 Edition)
Women make less than men but have more in their TFSAs. According to the most recent data in 2022, women had $281.3 billion in their TFSAs compared to $237.2 billion for men. That works out to about $30,750 per woman and $27,502 per man. But that extra dough doesn’t exactly translate into financial confidence — only 52% of women feel confident they’ll be financially ready for retirement at their target age, compared to 68% of men. (Dec. 3 Edition)