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MeVest Delivers Tips on How to Help During Uncertain Times

Good morning everyone, I hope this message finds you well and healthy. Today I’m sharing a brief note about how you and your family can help during the pandemic; even if funds are tight. And for obvious reasons, staying home and safe remains the greatest…

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Pandemic financial habits that are worth keeping when this is all over

If you weren’t managing your money well before the COVID-19 crisis, you might be now given the prolonged period of financial uncertainty we’re all facing. Here are four pandemic financial habits that are probably worth keeping after the worst of it has passed. Paying closer attention…

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MeVest Delivers Tips for Students Amidst the Crisis 

Dear clients, readers, students and their parents, Students, I know that this summer is likely not shaping up the way you’d hoped. Your regular jobs and internships may not be available, or they’ve changed dramatically because of COVID-19. Chances are that you were relying on this income…

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Expanded eligibility for CERB

The Canada Emergency Response Benefit (CERB) eligibility criteria has expanded, which is good news for seasonal workers, part-time workers, contractors and individuals who have experienced a reduction in their income, which leaves them earning less than $1,000 per month. The eligibility criteria is now workers:…

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MeVest Delivers a View into a Simple Life

Dear clients and readers, At the present moment, I find myself leading a more simple life. Certainly, the world is spinning faster by the second with financial and health complexities, but my priorities are straightforward; family first, staying connected to clients and friends, being helpful…

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MeVest Delivers Tips to Budget for Essentials Only

Dear clients and readers, I hope you are staying healthy. Resilience is the common ingredient that will ensure our collective health and financial recovery from COVID-19. Today’s message provides key highlights of the new Canadian financial aid package as well as how to effectively budget…

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MeVest Delivers Help for Individuals and Small Businesses

Dear clients and readers, I hope you are staying safe and healthy. In an effort to stay connected with you about important financial matters during the COVID-19 pandemic, I’ll be communicating important information that could impact your bank account. I deeply respect your time and…

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Staying connected and informed about financial best practices

A letter to our clients and readers Dear friends and clients, Thank you for taking the time to read this note amidst the high volume of communication you are receiving at the moment. During this period of uncertainty, it’s important to stay connected and this…

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What is fraudulent loan stacking?

In this day and age, it’s not uncommon for Canadians to have multiple types of credit products listed on their credit report. Many borrowers have one or more credit cards, a car loan, a mortgage, maybe even a few personal loans to take care of. There is…

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Why Research Should Be a Priority Before Taking On Debt

Car expenses, mortgage payments, utility bills, credit card bills, school tuition are just some of the expenses many Canadian households deal with year-round. It’s no wonder why more and more consumers are seeking loans to help them cover the day to day expenses associated with…

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Are you a loan stacker? Here’s how to break the cycle

If you weren’t able to cover the balance owing on your credit card in January, or perhaps you’d like to borrow money for an upcoming investment, chances are you’re looking for a more efficient way to borrow.  One option that some people choose is called…

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Before you move in, consider these six important factors

Avoid resentment and unpleasant financial surprises by setting these six healthy boundaries with your honey before you move in. Agree on whether you’re planning to buy or rent a place. If you buy, who’s going to be contributing what portion of the down payment. If…

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How-to declutter your home with a minimalist approach

Clearing clutter from your home is a great exercise in letting go. It’s the perfect time to evaluate what you have, what you don’t need, and be grateful for the items that bring you the most joy. There are other benefits when clearing clutter from…

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Five core financial principles that lead to wealth — for anyone

Here are some of the most important money lessons I’ve learned — handily boiled down to the five best financial principles to live by. These have been pressure tested and highly researched and they work for anyone, at any income level, no matter what your…

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You need an emergency fund — but you can make it work for you too

The best practice around emergency funds is that you should have at least three months’ worth of critical household expenses (rent or mortgage, condo fees, utilities, groceries, etc.) set aside in case an emergency happens. The exception is if you are heavily indebted, in which…

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We challenge you to 30 days of no-spending

Have you ever taken a month off of spending? We’ve got tips on how to successfully pull it off.    Every year, after the holidays are finally over, I go on a 30-day spending detox. I do it for three reasons: First, it’s an excellent…

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Four smart ways to stay out of debt this holiday season

The fastest ways to slip into debt during the holidays — and any time for that matter — is to spend without a budget (not having a realistic plan) and then compound the issue by not tracking what you actually spent (not facing reality). The…

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5 Ways to Entertain for Less

For most of us, the season for entertaining happens during the fall months. Between Thanskgiving, holiday parties, Christmas celebrations and New Year’s Eve….it can be exhausting and expensive. But, it doesn’t have to be. We’re sharing our best tips for entertaining that you can use…

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Try a 30 day spending detox

Want to boost your savings? Try not spending anything for 30 days. Our favourite times for a no spending month are November-December (before the holiday season), January (right before RRSP season) and April (spring clean-up). Turning the taps off spending can save you hundreds, and…

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Giving back is good for your bottom line

Giving is great for your soul and your pocketbook and that’s why it’s part of a solid financial plan. When you donate more than $20 – $25, depending on the policies of the registered charity, you receive a tax credit (not a deduction) that positively…

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Don’t sit back if you’re a victim of a data breach

This year Canadians have fallen victim to massive data breaches, with some of the largest being Equifax, Capital One and Desjardins Group. SIN numbers are one of the primary pieces of data collected by these hackers because with your SIN plus your name, fraudulent identities…

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How to get the latest student technology for less

The hottest technologies for students don’t need to bust your budget. Follow these tips to get the latest and greatest tech gizmos for less. Computers and tablets – First, clarify what’s actually required; a computer, tablet or both. If you need both, consider a machine…

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How to afford to go back to school as an adult

If the thought of paying tuition as an adult is giving you heartburn, it’s time to look at the best options to afford the costs. I went back to school in my late 20s as a “mature” student. To tackle the massive costs of my…

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Five simple ways to save on back-to-school

Back-to-school shopping can get out of control. Rein it in with these five tips. According to the Huffington Post, parents of school-aged children spend an average of $650 on back-to-school supplies for their family every year. Approximately two thirds of that goes towards clothing and…

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Parents, use the Canada Child Benefit increase wisely

The Canada Child Benefit (CCB) increased in July which is very good news for parents! If you are new to this benefit, the money is a financial boost for families and it’s tax-free up to a new annual maximum benefit of $6,639 per child under age 6…

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Co-working spaces with child care are saving parents money

For parents with non-traditional careers, there’s a new trend of co-working spaces that include childcare. They best part is it actually saves money!   In just a few weeks, I’m going to have a sidekick with me, a brand new baby boy, and how I’ve operated…

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How much is too much to be spending on fitness?

Spending more than three per cent of your take-home income on fitness? Think again. Keeping fit is essential to your mental and physical health. It also takes the exact same set of skills that money management requires – discipline, regular maintenance, striving to achieve goals,…

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Making sure barbecue season doesn’t break the bank

Food cost are up making it harder for Canadians to manage their grocery budget. Stay on track with these five strategies. The latest data on food prices amidst COVID-19 revealed that the cost of veggies, meats and more are on the rise, and most Canadians haven’t…

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When to create an online will vs. when to use a lawyer

Technology is simplifying the will-making process. Find out if an online will is right for you. Deciding to create your will is the most important decision you’ll make when it comes to estate planning. A survey commissioned by online estate planning platform Willful found that…

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Three key financial products every parent needs

1 in 5 parents don’t have one of these three key financial products for their children. In June 2019 online estate planning company, Willful, surveyed parents to see how financially prepared they were now that they had kids. Specifically, they asked whether parents had a…

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Resetting your money mindset after a major negative life event

When financial catastrophe strikes, it can disempower you and your money. Shift your thinking with these practical tips. Separation or divorce. Illness. Death of a loved one. Bankruptcy. Failed business. Job loss. Retooling for an entirely new career. Major unexpected expense. What’s common amongst these…

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Your resetting checklist

Sometimes life can throw you a curveball, or two. If you’re in need of a financial reset, start by getting organized with this checklist. Gather up a list of all of your assets and liabilities. Assets are things that you own, which grow in value,…

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4 ways to improve your credit after a financial reset

If your credit has been impacted because you’re going through a financial reset, follow these four helpful tips brought to you in collaboration with Capital One. Not surprisingly, individuals who are working their way through a financial reset are worried about rebuilding credit. Your credit…

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Build your financial plan in two hours

Creating a personalized financial plan can be done in as little as two hours.  Grab your smartphone and open the calendar app. Block two hours this week to build your five-year plan. Then open up your Two Hour Financial Planning Template and follow along. Note there is an example in…

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Your net worth by age

Are your retirement savings on track? Measure them against our net worth milestones to compare. Almost every week I get asked “What should my net worth be?” The answer just isn’t that simple, because it’s based on what your goals are for the future. If,…

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Save money during the summer without sacrificing your social status

Summer is a spending spectacle because it’s actually the time of year when we spend the most money…not Christmas.  Summertime brings more than sunburns and barbecues; it can also send your monthly expenses through the roof. After you add up all the vacations, festivals, concerts…

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Don’t let fear hold you back from filing taxes on time

When I first started my career, I wrote a column about why people procrastinate in filing their taxes. I interviewed an accountant whose business thrived in one area of specialization — filing late tax returns for individuals who were behind by at least five years….

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Annoying travel fees you should avoid

Travel on your mind this summer? Avoid these annoying fees. There are a variety of travel fees that you can scratch off your list of expenses by planning ahead. Baggage fees: Try taking a vacation with one carry-on bag. You’ll need to think ahead about…

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Time for a new vehicle? Examine the total cost

Buying or replacing a car before the summer? What you choose to purchase, and how you pay for it, can have a big impact on your household budget. If visions of a new vehicle are roaming through your head, consider the following factors before making…

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Dreaming of a summer holiday? Set your budget.

Wondering how much you should be spending on travel every year? We’ve got guardrails you can stay within. The temptation to splurge on a summer holiday after a long winter is real. But, budgeting best-practice says you should keep your total travel costs for the…

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File your taxes with a little help from our checklist

Our friends at Brunning and Company helped us pull together a comprehensive checklist of the forms you’ll need to file your taxes. Owner, Shannon Brunning, has also shared three simple tips to make tax filing a little easier this year. Set up a designated space in your home to…

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Dreaming of retirement? Start with a vision

Though it might seem far away, the decisions you make today will impact the quality of your retirement. Start with a vision All retirement plans need to start with the vision you have for your future. Ask yourself the following: At what age would I…

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Get your financial house in order with inspiration from Marie Kondo

Let organizational joy guide you and avoid spending money on things that don’t bring you joy. We’re pretty obsessed with Japanese organizational consultant and popular Netflix show host, Marie Kondo. She organizes and purges the homes of hoarders. She helps families dealing with loss respectfully…

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MeVest Money Tip: Cut spending by going on the cash system

If you’re like most Canadians, the holidays hurt your bank account. But, shifting to the cash system in 2019 will save you big bucks. Set up pre-authorizations and stop automatic credit-card charges for fixed expenses: Make a list of fixed expenses (ones that don’t typically change)…

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Stop feeling overwhelmed by your financial goals for 2019

According to a recent Tangerine survey, improving finances is one of the top-cited resolutions for Canadians in 2019. But balancing between other important areas of your life will make sure that your year, and your life, are more than just dollar signs. Here’s how you can…

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Reduce your tax bill with these end-of-year tips

Around this time of year I create my annual tax folder in Google Drive and begin loading up relevant documents such as my charitable receipts and medical expenses from the year. As new tax forms start rolling in, I keep them all organized in my…

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The best protection against identity theft is you

Identity theft is rampant and it’s important to protect yourself. If you suspect something unusual is going on with your personal information, follow these steps: 1. Report It Identity theft techniques can range from complex computer spywares and viruses, designed to help thieves acquire personal…

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The rise of subscriptions could be squeezing your digital wallet

Subscriptions are like paper cuts. If you get too many of them, they can harm your financial and physical well-being. The nastiest part is they’re so darn small, they often go undetected for quite some time.     In the past five years, the subscription…

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Are you being scammed? Here’s a quick guide to find out

Scams cost honest Canadians over $100 million in losses every year, according to the Better Business Bureau. They are getting more sophisticated and convincing with sleek digital interfaces, impeccable use of language (and psychology) by email, text and voice communication and by having just enough…

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Stretch your grocery budget by shopping online

Today on @BTtoronto we talked about how technology is revolutionizing the way we shop for groceries and why that's saving Canadians money. @WinstonSih @rogerfpetersen Full story: https://t.co/Lel9bUpukB — MeVest (@MeVestMoney) July 31, 2018 One of my pet peeves is buying something and then finding out…

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Merging your accounts with your honey? Read this.

MeVest founder, Lesley-Anne Scorgie, hosts guest contributor, Janine Rogan. Merging your accounts with the love of your life has pros and cons. For starters it makes things easier at the end of the month when you don’t need to tally up who owes what. If…

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Using digital tools to automate your financial plan

Set it and forget it. Automating your budget and savings for things like groceries is one of the best ways to stay on track financially. I’m envious of people that have a long memory. My granny can recount names, addresses, birthdays, anniversaries, outfits people wore…

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Is mortgage-freedom your goal? Tackle it in these three ways.

Not everyone can visualize a future without a mortgage. But, Sean Cooper did. Before he was 30, Sean eliminated his mortgage on the home he purchased in Toronto nearly eight years ago. In our latest episode of LA TV, with MeVest founder and host, Lesley-Anne…

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Spending more than $1,000 on children’s activities? Think again.

When I started my career in finance in 2006, I attended an event with the author of The Wealthy Barber, David Chilton. He kicked off his financial pep talk by recounting the time he reviewed an Alberta family’s spending who claimed they were completely broke…

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How to Host a Barbecue on a Budget

The summer season is the perfect time to get-together with family and friends, celebrate the beautiful weather and enjoy each other’s company over delicious food! We know that hosting a backyard barbecue can also get expensive, so we’re sharing three tips to keeping your party…

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Should you join your money with your honey?

When the dust settles after the ceremony, reception and second helpings of tiered wedding cakes, newly married couples in Canada must decide whether to join their banking. Technically speaking, so long as the couple works together to achieve their goals as a team, they can…

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Daydreaming about a joint vacation? Set some boundaries first

  Sharing vacations and vacation properties with family and friends is a fabulous way to shave off costs. But, even the best laid plans can sometimes backfire both financially and personally, without clear boundaries. Here’s how to do it right. Pick a travel partner with…

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DIY Home Staging

Thinking about moving or getting ready to put your house on the market? Spring is always a busier time for home sales and if you want to ensure your home is ready to sell there are a couple of simple things you can do to…

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The six best summer side-hustles for students

One summer job just isn’t enough anymore but there are money-making opportunities out there, from freelancing to festivals. The summertime can be a financial pressure cooker for some students as they scrounge, mooch and save for their next round of tuition payments, often due by…

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Six Ways to Get Your Scholarship Applications Across the Finish Line

Some of Canada’s largest scholarships have application deadlines by the end of May, but Canadian students aren’t bothering to apply for the money. Here are six tips to get your scholarship applications across the finish line: Know where to look: Your school’s financial aid office is a great…

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Re-imagine Your Budget to Stop Overspending

Remember, fancy spreadsheets and apps won’t save you. Better behaviours will. As a certified money coach and personal finance author,  I’ve seen just about every version of budgeting that you can imagine; families with an entire section of their kitchen countertop full of jars individually…

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Ladies, start saving 20 per cent for retirement

Women can unlock their financial potential by growing their financial confidence. The Wealthy Barber was the very first book I read about personal finance and the most important rule I learned was to save 10 per cent of everything I earned towards retirement. When I…

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Are You Behind on Filing Your Taxes?

Missing the April 30 deadline could lead to a colossal waste of money. Here are some details to keep in mind.   Mark your calendars: Canada’s personal income tax deadline is April 30. That means weeks of fear, procrastination and guilt. The biggest worries I…

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Here’s How to Take Advantage of Scholarship Season

Millions of post-secondary scholarship dollars are left on the table because Canadian students don’t bother to apply for the money. Post-secondary students across Canada are preparing for final exams — but carving out time during the next 60 days to investigate scholarship opportunities could save…

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Six Ways Spring Cleaning is Good For You and Your Bank Account

Tidying up our home and garden, getting rid of things that no longer serve us and welcoming Spring is rejuvenating. We’ve pulled together our top six tips to help maximize the results of your Spring cleaning efforts, and realize savings along the way: 1. Electronics…

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The 411 on RRSPs

President & Founder of @MeVestMoney, @Lesleyscorgie, explains RRSPs and why Canadians should look into contributing.https://t.co/VDV9jNToep — Breakfast Television Toronto (@BTtoronto) February 21, 2018   Q. Why should Canadians care about RRSPs? A. Hands-down, the RRSP tool is the most powerful retirement savings vehicle for most…

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Three Steps Toward a Better Sleep

Do you ever wake up from a less than ideal sleep and then as your day unfolds many things from your mood to work tasks just feel ‘off?’ Sleep is one of THE most important pieces of our wellness routine. We hear this all of…

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How to Empower Yourself in Business

To ultimately get ahead in business, you’ll have to push yourself to achieve more every year. This can feel uncomfortable at times, but that’s a sign that you’re learning and growing. We have four important steps you can take to get ahead, and to feel…

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The Financial Benefits of Going Green

The start of 2018 brings opportunity for change and reducing your carbon footprint is definitely on the top of the list for many people drafting up their New Year’s Resolutions. But, did you know there are financial benefits of living a “green” life? Our Homes…

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Goodbye Costly Cable TV, Hello Savings – Week 9

For its ninth challenge, Metro’s Small Changes, Big Win series gets you to save by cancelling your cable television subscription. Small changes to the way you spend can add up. We’ve pulled together weekly tips that will add a minimum of $10 to your savings….

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5 Ways to Pay-off Your Holiday Bills Faster

If you’re reeling from an expensive holiday shopping season, you’re not alone. Most Canadian households spent an average of $1,000 on gifts and entertainment throughout the season. That amount might seem reasonable if you’ve planned for it. But, most people did not save in advance and…

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The Fight for Gender Parity Continues: Remembering December 6th, 1989

I was in kindergarten when the Montreal Massacre happened. It was December 6th, 1989. In a delusional and violent attempt to “fight feminism”, Marc Lépine, 25 years-old, shot 28 people and killed 14 women, and then he committed suicide. A lot has happened for women…

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Gender Diverse Investing: A Morning with Diana van Maasdijk

Earlier this month I sat down with Diana van Maasdijk, co-founder of Equileap, while she visited Toronto from Amsterdam; where Equileap’s head office is located. Q. What does Equileap do? A. Equileap creates a financial index for gender-diverse exchange-traded funds (ETFs). What that means is that…

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Gender-diverse Investing with Raj Lala

[youtube]https://youtu.be/beLynxK0VSw[/youtube] Raj Lala, and his team at Evolve ETFs, recently launched HERS, which is the first Canadian gender-diverse ETF.   It can be a challenge to research the gender-diversity policies and practices of companies in North America. That’s where relying on non-profit organizations like Equileap…

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This Year, Restrict Holiday Drinks to Half-price Happy Hour – Week 2

For it’s second challenge, Metro’s Small Changes, Big Win series gets you to scope out discounted drink specials. Enjoy responsibly and bank those savings. Small changes to the way you spend your money can really add up. We’ve pulled together weekly tips that will add…

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Women-focused Businesses are More Profitable

During the month of November, organizations in Canada like WXN and Women of Influence, celebrate the career accomplishments of women.  The subject of gender diversity and women in the workplace is active around the dinner table, but not only that, the subject of has been influencing the markets and investment decisions made…

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Closing the Clean Car Affordability Gap

When the calendar rolls over into 2018 my car, a peppy crossover with low kilometres, will officially be ten years old. In the world of cars, that’s considered a milestone birthday. In the world of consumers, however, that’s considered time for change.   Here’s the…

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Can You Afford to Own a Clean and Safe Car?

  Affording a clean and safe car is within your reach. So too is getting in on the investment market for automotive innovation. What will it cost you to own an Electric Car? Two of the most popular EV Cars are: The Tesla, starting at…

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