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Primii pasi in finantele canadiene - ce trebuie invatat?

Discutii pe teme economice: conturi, banci, rate, dobanzi, pensii, asigurari, mediul de afaceri, declaratii de venit, taxe. Educatie si planificare financiara.
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Re: Primii pasi in finantele canadiene - ce trebuie invatat?

Mesajde laurent_db » 28 Mai 2014, 20:59

xplaur scrie:Asta spuneam si eu Laur, cu putina organizare se pot evita dobanzile: eu la CC nu am platit un cent dobanda sau penalitati, de cand il am (basca mai si primesc 2% inapoi, la fiecare sfarsit de an), masina e credit cu dobanda 0%. Sigur, sunt si credite la care nu se poate ocoli dobanda, dar deocamdata nu am ajuns la ele.


Laure, ce card ai? Eu am unul din ala de la RBC de care a zis sorro dar imi dau 1% pentru orice si 2% doar la groceries dar groceries cat naiba sa cumpar ca mai cumpara si nevasta si chestii mai la gramada cumpar de la Costco. Zi-mi si mie, poate o schimb.
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Re: Primii pasi in finantele canadiene - ce trebuie invatat?

Mesajde sorro » 28 Mai 2014, 21:03

Btw, uite un link cu (aparent) cele mai bune cash-back CCs pt. 2014:
http://www.milliondollarjourney.com/top ... Canada.htm
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Re: Primii pasi in finantele canadiene - ce trebuie invatat?

Mesajde xplaur » 28 Mai 2014, 21:04

Pai cred ca avem acelasi lucru, MC de la RBC cu 2% inapoi la groceries (pentru restul chestiilor 1%). Scuze daca am creat confuzie.
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Re: Primii pasi in finantele canadiene - ce trebuie invatat?

Mesajde Isostar » 29 Mai 2014, 09:57

Pentru carduri de credit, folositi cu incredere site-ul asta
Poti sa te joci cu conditiile initiale si iti ofera cea mai bun alternativa. Eu de exemplu am un Scotia Amex gold (care imi da 4% rewards la gas, restaurants si groceries) si un MBNA Travel (godfathered aka nu mai este disponibil) care imi da 2% la orice cumpar.
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Re: Primii pasi in finantele canadiene - ce trebuie invatat?

Mesajde Petrica Rusu » 29 Mai 2014, 10:05

Isostar scrie:Pentru carduri de credit, folositi cu incredere site-ul asta
Poti sa te joci cu conditiile initiale si iti ofera cea mai bun alternativa. Eu de exemplu am un Scotia Amex gold (care imi da 4% rewards la gas, restaurants si groceries) si un MBNA Travel (godfathered aka nu mai este disponibil) care imi da 2% la orice cumpar.


Eu in general prefer cardurile cu rata mica de dobinda pentru ca nu le platesc la timp. Spre exemplu am un TD cu 4% dobinda pe an ceea ce mi se pare okay. Mai am si un MBNA dar ala deja e la 9% ceea ce mi se pare enorm.
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Re: Primii pasi in finantele canadiene - ce trebuie invatat?

Mesajde Isostar » 02 Iun 2014, 10:14

Acum venim si cu continuarea, un top 10 facut de catre un profesor de economie din Vancouver, B.C. . Acest top enumereaza principale informatii financiare care ar trebui predate unui student in scoala canadiana. Nu am nici o contributie, asta ca sa evitam potentialele cerinte pentru ceva documentat.

1. Live Within Your Means: Wants and needs, Budget

To live within your means is the key concept in fiscal literacy. The student’s ability to learn to differentiate a want from a need is fulfilled by creating a budget to balance those two.

Activity – Save to buy a dog: Rationale: Can they afford it? Purchase a fictitious pet for say $500 or from the SPCA, and have the students do the research into the costs (see Murray the Vet) regarding shots, food, and Fido not having any more kids. I would think that the students would be all over this.

2. Money: What is it? Function? Fiat money. Interest Rates/ Monetary Policy.

Rationale: Primary importance is to understand the four functions of a currency. Some good video clips on You tube. Plenty of interest in the Bit coin craze and how it is being used illegally, but many see it as a window on the future as to what and how a future currency could look like.

Activity: Counterfeiting fascinates students and a few good examples are always in the news, such as Frank Bourassa, who has been allowed to go free after turning over a huge quantity of fake U.S. $20 bills. Students try to pick out the fake.

3. Investment Basics: Stocks, bonds, ETF, mutual funds, seg funds, Retirement, RRSP, TFSA, RESP, CPP, OAS

Rationale: Understanding investment basics allow a person to begin earlier long term financial planning. Teach them about investment basics – stock/bond. How is mom and dad’s retirement accomplished? DB/DC What is the difference? What vehicles help me to retire early?

Activity: What would your future look like in a perfect world 30 years from now? What would it cost? How much money do you need? Do the math.

Two activities here. First I give them 1 million dollars and they must select a minimum of six stocks and play the stock market. There are a number of interactive sites that allow transactions in real time. They also must select a stock and present/sell it to the class. Best as selected by the class gets a treat. The second is to bring in a portfolio advisor who talks about going to university, what to study, what the DC/DB is again, what is a bond/yield, and generally compound interest. Kids are motivated because they want to get into business/finance/marketing.
4. Debt

Rationale: Understanding credit, benefits if it is paid on time. For example, a $200 pair of blue jeans is $276 if purchased with a Hudson Bay MasterCard @ 29.9 % with $10.00 min. payment (28 payments or 2.3 years) vs. $206 at the end of the month, plus reward points.

The power of compound interest, time value of money, money made over a lifetime. This was one of the clear themes/topics for the blog. I think that today with low interest rates and the threat of deflation that reducing debt is a concept that is very important. The visual of the debt clock for Canada/U.S. is excellent. There is an interactive game where students get the opportunity to manage the U.S. debt crisis by being put in charge. This lets them see the magnitude of the issue. As well a discussion around the pitfalls around student debt would another great topic. If you have debt issues in the future where can you turn?

Activity: I like two activities that focus on a pack of cigarettes/latte. Do without one each week X 52 X 30 compounded; a real world example students understand. However, discipline is the key. The second activity is called Budget Hero. It is interactive and the link is provided.

5. House – Own or Rent

House: amortization, condo fees, strata, depreciation, taxes, upkeep, neighbors, profit/foreclosure on sale of house, lawyer/notary, deed itself. Rent: responsibilities, fine print, parties, neighbors, damage deposit. Value of money used for mortgage vs. rent

Rationale: As I have rented, owned, and been a landlord I have a variety of viewpoints on this issue. In the not too distant future they will go off to university or work up north and most likely rent. As they move into their late twenties/thirties the ownership question will be a hot topic and as this blog has pointed out many times, there is a lack of understanding at so many levels.

Activity: Is it better to rent or buy? NY Times Interactive

Also mentioned in the blog was the idea of getting the students to furnish an apartment within a budget using KIJIJI. Given a list of basic items to measure their frugality, as well as a list of items they could buy if they saved X amount of dollars would definitely appeal to students. Once again it fits the criteria of engaging and relevant.

6. Taxes

Rationale: Students need an understanding of the functions of government at various levels, and the services that each supplies. They then see why taxes are collected. At this point students should be made aware of a variety of taxes and where the $$ go. Students can then debate the value of a tax (or where do the $$ go?). Do corporations pay their fair share?

Activity: Provide the students with a couple of profiles (gross/net, CPP, OAS, union dues etc.) and a blank T-4. Complete it. Short activity but to the point.

7. The Bank: Savings/chequing/line of credit/services, Credit cards, Difference between a debit card and a credit card, Function of banks, how are banks, credit unions, and insurance companies different? What is the Bank of Canada and how is it different from the domestic banks?

Rationale: Everyone uses a bank, yet many consumers do not shop around and compare fees and service charges to their benefit. I am a valued customer; what can you do to reduce my interest rate to show your appreciation for my continued patronage?

Activity: I think the best solution here is to bring in an expert to talk to the students about what services are provided by a bank since they are ubiquitous. However this would provide a great opportunity for the students to research various rates/services and compare.

8. Risk

Rationale: There were a number of references to either risk, gambling, psychology, herd mentality, peer pressure, or emotions in financial decision-making. So I grouped them together under this heading. Much of this is dependent upon knowing who you are, cultural background, age, etc. This would be a great entry point for an introduction to whole/term insurance.

Activity: Start by taking this quiz to get an idea of your risk tolerance–one of the fundamental issues to consider when planning your investment strategy, either alone or in consultation with a professional. Two personal finance professors developed this quiz. Link.

9. The Purchase (car, smartphone, laptop): Hidden fees, term, added features, Negotiation, Budget

Rationale: I like the art of the negotiation. There is nothing like sitting on a carpet in Afghanistan and bartering with a 12 year old. The youth in many countries acquire this skill early in life. I polled a number of students in my class. About 50/50 as to those that had bargained vs. those that had not. Those that had (Asia and Mexico) were comfortable with the process. I suggested going to Safeway and trying it out again on the produce manager, but found no takers.

Activity: A number of choices here. First, bring in an expert. A car salesman or a student that works at a phone kiosk could provide background. Second, have the students do a comparison of smartphones looking at a selection of features that they find appealing. Third, a contest to find the cheapest rate for a smartphone with this set of features (2G vs. 3G) etc., but with a set monthly budget.

10. Advertising/Marketing/Scams

Rationale: I remember my brother being a great salesman (in his twenties) and buying a regional franchise from his boss. He was excited about his new office and the opportunity to sell his wares in this community. Sales were really slow. He found out that before the transfer of the region, the boss had phoned virtually every resident flogging the product my brother was to sell. He had assured him that would not happen. Lesson learned.

Students love social media and advertising. Sports, clothing, music, the list is endless as to how they are a fixture for marketing. Caveat Emptor.

Activity: Role-play a salesperson on commission. What are their motivations? I have done this to illustrate union and management negotiations. It is very effective when the girls are the bosses and the boys are labour.
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