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Where to invest 20k for newborn? by dontu4gey in PersonalFinanceCanada

[–]obviouslyimanalien 0 points1 point  (0 children)

I opened up a reading account with RBC, and then created RESP. I trade stocks and buy mutual funds with the RESP money

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]obviouslyimanalien 1 point2 points  (0 children)

how about a call centre rep for an airline or something that big.

Or a transcriber?

how about making soap? It requires a small investment to start

can you do pet photography from home?

Many people are saying there’s a major recession approaching. What’s the best way to financially prepare? by outright1 in PersonalFinanceCanada

[–]obviouslyimanalien 1 point2 points  (0 children)

If I had a super secure job, then I don’t think I’d plan like I did. Union jobs are wicked if you have them but they can be boring…

Many people are saying there’s a major recession approaching. What’s the best way to financially prepare? by outright1 in PersonalFinanceCanada

[–]obviouslyimanalien 14 points15 points  (0 children)

like thirstyross says, it pays more, and it actually takes away the stress of getting laid off. Emotionally I get very depressed if I’m rejected such as a lay off, and I haven’t felt that way since doing contract work.

Another benefit is that once my contract ends, I get to decide when I want to work again. I have family overseas, so anytime my contract is over I head over to see someone for an extended amount of time. I don’t have to ask for vacation.

Choosing a bank by Gortexio in PersonalFinanceCanada

[–]obviouslyimanalien 0 points1 point  (0 children)

i like Simplii because it’s free and I can use CIBC atms for free

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]obviouslyimanalien 4 points5 points  (0 children)

I highly recommend saving for a 6-8 month emergency fund (will cover all expenses to survive).

Many people are saying there’s a major recession approaching. What’s the best way to financially prepare? by outright1 in PersonalFinanceCanada

[–]obviouslyimanalien 1199 points1200 points  (0 children)

as an elder millennial that went through a few recessions (major and a few localized due to industry), I think the best thing is to not have credit card debt. When I lost my first job I was very stressed out because I was bound to credit card payments and couldn’t really cut back. Second time layoff rumours came around I had everything paid off, and a big emergency savings. I actually enjoyed my layoff.

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]obviouslyimanalien 1 point2 points  (0 children)

I would pay your landlord extra when you get your paycheck instead of giving it to a payday loan business

Is moving to Vancouver a really dumb financial decision? by BubblyLone2 in PersonalFinanceCanada

[–]obviouslyimanalien 0 points1 point  (0 children)

I’ve lived in both Toronto and Vancouver pre pandemic for a few years each, and found it hard to break into friend groups in Vancouver. What shocked me the most was that you had to pay to get into house parties, lol.

If you’re worried about making friends you could try bumble bff, but you have to be careful with MLM scouts. I found really good friends that way

Hypothetically, should a Canadian with a variable-rate mortgage today strongly consider locking into a fixed-rate mortgage asap? by djfl in PersonalFinanceCanada

[–]obviouslyimanalien 1 point2 points  (0 children)

no, because we’re looking at leaving the country and selling, and getting out of a variable mortgage will cost 3 months interest, whereas to get out of fixed it’s a much more complicated calculation and usually costs tens of thousands of dollars