A Money Coach in Canada

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1. Ford is investing $1B in a car-factory in India.

I find that interesting in two ways:  Ford’s brand has been sooooo “Made in the USA”.  I wonder how this will affect that?   and secondly, the fact that India’s market for cars has grown by 30% is an on-the-street (ha ha) indictor of how quickly their economy is growing.

2. Music Industry game-changer (again?  yes, again) Spotify has come to the USA. One more example of the colossal paradigm shift of pretty much the entire world (ie. we’re moving to the cloud, folks).

3. Canada received a top, top credit rating partly attributable to the Conservative Gov’ts stimulus package.   What does that mean to you?   It means two important things based on this:   Canada can borrow money cheaply because it’s such a safe risk.

a. Less of our taxes go to paying interest on the debt and more of our taxes are thus left over to pay for programs such as health care

b. Banks can borrow money more cheaply which means they, in turn, lend it more cheaply to us (with the outrageous exception of credit cards).  Lines of Credit, Mortgage rates = less expensive.   Don’t own a home?  Well, as a landlord, since my mortgage payments stay low, I pass on those savings to my tenants (if I don’t, my neighbour would, so I do.)

4.  Even The Economist is sounding fed-up over the USA’s dilly-dallying about the debt-ceiling.

(short story – it’s like the USA is living off its Line of Credit, and has hit its limit.  The limit can only be raised if Congress gives the OK, which has been done in the past many, many times, albeit not when things were so dire.  If they don’t, then on Tuesday, the gov’t can’t pay its own bills – think, public service payroll?  old age security?  medicare?  paying back other countries who lent them the money?  Democrats want to cut programs and raise taxes.   Republicans say flat-out No, or are concocting last-minute schemes of all kinds)

About the Author

Imagine if Canadians were known for being all over their money. Engaged. Proactive. Getting out of debt. Savvy. Saving. Generous. Nancy wants to help. Nancy started her own journey with money over 15 years ago, and formed her company “Your Money by Design” in 2004 to help others along the same path. It’s not the usual financial advising/investment stuff. It’s about taking control of day-to-day finances –managing monthly cashflow effectively, spending appropriately, getting out of debt, saving. If you're ready to take control over your finances, pop by her business site, YourMoneybyDesign.com

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