The Department of Basic Personal Finance Questions is officially open for business.
Use the link below to send me questions about money that you’re embarrassed to ask because you think they’re too simple. I’ll choose a selection of them and answer them in upcoming newsletters.
The beginning of a new year is a natural time to refocus on your personal finances. Some of the roadblocks you’ll face:
- You’ll likely need a few hours to find and consider the needed information
- You may have to confront discouraging news
- You may have unanswered questions that keep you from moving ahead.
Let’s get to work on your unanswered questions. Ask anything – about mortgages, banking, stocks, exchange-traded funds, investing fees, inflation, interest rates, the dollar, debt and more.
You help yourself by anonymously asking your question, and you help us by highlighting what’s confusing in personal finance. Ask away.
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Rob’s personal finance reading list
Pros and cons of a low Canadian dollarA thorough Reddit discussion on the good and the bad of the Canadian dollar trading at multiyear lows against the U.S. buck. A major con is the cost of travelling to U.S. destinations, but there are some upsides for the economy.
ETFs outshine mutual fundsA summary of the massive growth in exchange-traded funds last year. For the third straight year, ETFs outdid mutual funds in sales.
Them’s the brakesA look at a costly part of vehicle ownership – replacing your brakes. Tips on how to prolong the life of your breaks, and guidelines on how often your brakes need maintenance.
A tipping point for tippingI hear less complaining about incessant tipping demands in stores, which suggests we’re all getting used to it. This article takes a look at the rise of tipping and how it serves the needs of restaurant and store owners. More tips means less pressure to raise wages.
Ask Rob
Question
I would like your comments on the recent massive makeover to Scotia iTrade. I find it confusing and will likely switch platforms.
Rob
I like it. Bright, airy and nice to use. But I get your frustration – the new iTrade site is a lot different. I know from years of covering the digital investing sector that established clients are often change-resistant – they prefer not to hunt for the features they used to be able to locate easily. Suggestion: take a month to get familiar with the new iTrade site. Switching platforms can be quite the aggravation. Also, I see iTrade is asking for user feedback. They’re serious – they want to hear about any deficiencies, so let them know.
Do you have a question for me? Send it my way. Sorry I can’t answer every one personally. Questions and answers are edited for length and clarity.
Callout
It’s no secret that being in a relationship where you live with your partner can save you money, especially on housing. A recent RBC poll found that 47 per cent of respondents in a relationship couldn’t afford to pay their bills if they split up.
We want to hear from people who recently started living with their partner and those who’ve recently become single: how has living with your partner or living alone affected your financial life? Has it had a noticeable impact on the kind of lifestyle you can afford?
Reach out to
sfarooqui@globeandmail.com if you’d like to share your story.
Tools and guides
A useful primer on registered disability savings plans, or RDSPs. This article says they’re underused.
More PF from The Globe
Capital gains tax
uncertainty leaves taxpayers facing two unappealing options
A flock of
black swans is about to descend on the markets. Here’s what I see ahead for investors in 2025
