Skip to main content

Always Save Money
A blog by personal finance journalist Rubina Ahmed-Haq

WOMAN, FINANCE AND BUILDING CONFIDENCE


If you’re interested in learning more about money, finance and generally being a lady boss, then I encourage you to check out stnce.ca and become part of a community of women who empower one another to be self-reliant, self-assured, and well-informed.
It’s the official launch of Stnce.  An initiative with a mission to build financial confidence among women.
It’s fair to say I’ve dedicated my career to talking about personal finance and how we can be better at it. So when I was asked to help build financial confidence and literacy in women, my next question was, where can I sign up?
Women are better at money than they realize. A recent poll conducted by EQ bank reveals that, compared to men, Canadian women are significantly less confident about their financial knowledge. But when tested on how well they understood finance, the study showed the majority of women were very financially savvy and scored high on the test.  
Vice President of Equitable Bank Kim Kukulowicz says: “We don’t have a knowledge issue, we have a confidence issue.”
The stnce initiative offers resources such as expert advice, financial challenges and event meet-up groups that enable women to start a conversation about financial confidence.
We all have so many questions about finance. Sometimes it’s about how to invest in stocks or bonds, where to open an RRSP or how to shop for a mortgage rate. These are some of the money issues women face day-to-day. Women are done with getting someone else to manage their money, we make too much and have too much at stake to let that continue.  
We are not just women. We are sisters, daughters, mothers, wives, lawyers, doctors, firefighters, journalists, hard workers, multitaskers, cynics and optimists. We are rich and poor, university graduates and high school dropouts. That’s why when it comes to financial education there’s no one size fits all answer. The only way we can be more confident with money is to get together and share our ideas.
On March 28th, I’ll be in pretty good company with my fellow ambassadors Michele Romanow (Dragon), Desirae Odjick (Half Banked), Jessica Moorhouse (Mo’ Money Podcast), Kristen Wood (The Ten Spot), and stnce Founder Kim Kukulowicz (Equitable Bank). It will be a night of conversation, building confidence and learning how we can all reach our money goals.
Whether you’re in attendance at this event or at home, let’s continue the conversation:
  • Instagram: @stnce.ca
  • Hashtag: #ShowYourStnce
  • Twitter: @stnce_
  • Facebook: stnce

For more information about the online resources available and for upcoming events, please visit stnce.ca and subscribe to the mailing list!

Comments

Popular posts from this blog

MORTGAGE COSTS ARE GOING UP

The mortgage landscape in Canada is changing so fast that many current mortgage borrowers and first time home buyers may not realize how much it will affect their bottom line.  According to a new CIBC Capital markets reports, 47 per cent of all existing mortgages in Canada are up for renewal in the next year.  This number is significantly higher because CIBC says borrowers in recent years have taken on mortgages with two- or three-year terms, because at the time they were cheaper.  These shorter mortgages have created a refinancing glut, as they are up for renewal alongside the typical five-year mortgages. New mortgage applicants will be affected in three major ways
Rising interest rates Both fixed and variable rates are higher. When it comes to fixed rates, all of Canada’s big banks have raised their five-year fixed mortgage rate. The posted rate for TD, CIBC, BMO, Scotia and RBC is now more than 5 per cent. The move is a reaction to rising bond yields. Bond yields are higher because…

TOP TEN REASONS WHY SENIORS ARE IN DEBT

I thought we were supposed to get wiser with age? But it seems Canadian seniors are racking up debt faster than any other age group. Another reasons for young people to save more for retirement and for those reaching retirement to practice some self control over their finances. An Equifax report called, Canadian ConsumerCredit Trends, details spending habits of Canadians during the second quarter of 2013. It found consumer debt in Canada rose by almost $77-billion, but year-over-year, but the group racking up the most debt is 65 and older. This group saw their debt increase by 6.5 per cent. Here’s why Canadian seniors are taking on more loans than anyone else. Most Canadians underestimate the cost of retirement.
Retirement costs about 80 per cent of what your working years did.
You can’t borrow for your retirement.
Canadians are living longer and healthier lives.
Many Canadian don’t have adequate health care to take care of their needs.
We spend most on healthcare in the last 10 years…

MONEY SAVING TIPS TO USE RIGHT NOW

Buy smaller fruits and vegetables. If you are paying for fruits and veggies per pound buy smaller, apples, oranges, zucchinis mushrooms etc. This will avoid wasting fruits and vegetables. How often have you wasted half an apple because it was too big to finish? When you throw out half an apple you are throwing out money!
Dine out on weekdays: This might be the hardest sell, but eating out during the week can cost you less and makes more sense. Most restaurants have great deals during the week to attract customers and you will appreciate not having to cook and do dishes on a work night. But remember it’s cheaper to eat at home, so don’t over do this one.
Clip coupons: I know it’s what your mom used to do, but mother knows best! Using coupons, especially on already sale-priced items, will give you maximum savings on household goods. My best advice is clip coupons for products you already use in your home and then scan the fliers to see when they go on sale and stock up!
Take your lunch…