Tapping home equity is becoming much more expensive

Personal finance columnist Dale Jackson says the reckoning has begun for borrowers who tapped into their home equity. Much of the focus of rising borrowing rates has been on how the added financial burden will affect regular mortgage payments, but as Jackson points out, interest rates for reverse mortgages and home equity lines of credit have hit “eye-popping” levels.

Rethinking the subscriptions you signed up for during the pandemic

Some Canadians might’ve signed up for delivery and entertainment subscriptions, such as streaming services and meal kits, during the height of the pandemic while they were stuck at home and reactional spending was limited. Now that restrictions have largely lifted, all of those pandemic-era subscriptions might be weighing on your wallet and cutting into your savings.
 

Gas prices ‘hitting consumers where it hurts’: BMO
 

Average gasoline prices in Canada surpassed $2 per litre for the first time in history. BMO Capital Markets Senior Economist Jennifer Lee warns as gas prices continue to climb, Canadian consumers’ disposable income will be under increasing pressure. BNN Bloomberg’s Hilary Punchard has some tips to save a few dollars at the pumps.

Think of emergency funds as pre-planned spending to better prepare: Advisor
 

Often, financial security comes down to being prepared for worst-case scenarios. Financial author Alyssa Davies tells the Canadian Press that having an emergency fund can not only help you shoulder unexpected financial burdens, it can help keep you on track for your money goals.

Cash hoarding hits 2001 high on stagflation fears
 

As stagflation worries mount and the outlook for global growth falls, institutional fund managers are letting the cash portion in their portfolios pile up to levels not seen since 2001. That’s according to a Bank of America fund management survey, which described the results as “extremely bearish.”

TIP JAR
 

“A recession is not inevitable.”

- Investors are pricing in rising odds of a recession, but some macroeconomic indicators are suggesting otherwise, according to Goldman Sachs strategists.

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