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Tag: interest rate

From 0.5% to 5%: The Bank of Canada’s Unprecedented Interest Rate Hikes, Their Consequences, and what to do about it?

Posted on September 3, 2023September 2, 2023 by budgetsense

In this challenging financial landscape, it’s clear that Canadians are feeling the heat of unprecedented interest rate hikes. of the last 18 months. From adjusting budgets to exploring alternative mortgage solutions, there are ways to weather this storm. By making informed decisions, seeking professional advice, and taking advantage of high-interest savings options, individuals and families can navigate these turbulent times with resilience and hope for a brighter financial future

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Einstein called it the eights wonder of the world: Use this Financial Phenomenon to Multiply your Money in less Time

Posted on March 12, 2023March 12, 2023 by budgetsense

Albert Einstein once said “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it” . If something has the backing of arguably one of the smartest people in history, you can surely trust it! Compounding is the process whereby interest is addedto an existing principal…

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