A Wage Increase Is Only Instant Gratification On Paper : Our Net Worth Update October 2017 (+0.79%)

BUILDING WEALTH AND DEBT FREEDOM GOES BEYOND A WAGE INCREASE   Unless you get a wage increase that is far beyond your norm the only gratification most people get is seeing the bigger number on their pay cheque. Even then if you’re not putting that wage increase to work you’re hiring and firing your own staff costing your more money in the long run. Reality is that without doing something with that money to help increase your net worth it won’t make a blind bit of difference. This perspective of a wage increase simply leaves you right back where you started. November is financial literacy month and I wanted to take a few minutes to talk about why a wage or salary increase isn’t always the answer to our financial problems.   You have to start somewhere   ** Let that be your motivation for the day, month, year ** You may not be in debt but you’re certainly not going to get ahead financially if you aren’t making changes to the way you manage it. The key: Financial Literacy. If you’re in the negative you may still be in the negative but climbing out from the hole. You’re still […]

Free Trade Agreement: Planning for a stronger Canada

WHO CUT THE CHEESE PRICE?   The Free Trade agreement in principle was recently signed between Canada and the European Union.  It was hailed as a significant step to boosting the economy of Canada while having minimal negative impact for Canadians. Free trade   So what is a Free Trade Agreement?  Essentially it eliminates tariffs or taxes on cross border imports/exports making it easier for companies to trade products and/or services with neighbouring countries. It’s not just as simple as that though, there has to be limits or quotas set where each trading partner agrees to a set level. Depending on what the country exports or imports the most can determine what is set in the quotas. So for instance Canada has a lot of trees and the US needs to build a lot of houses, it would be in both of their interests to eliminate the tariffs on trees for, let’s say the first 100,000 tonnes. Anything past the 100,000 tonnes then tariffs will be applied so companies would have to budget their exports in order to keep with-in the quota. That’s great for Canada, they’re selling trees like they’re going out of fashion, but what’s the US getting out of the deal? They put […]

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