By Sheryl Smolkin
The world was shocked to learn that the UK voted to exit the European Community. Nobody really knows what will mean for investors yet but Robin Levinson King at the Toronto Star suggests four ways Brexit could affect Canadans. They are fewer exports, lower returns, a stronger U.S. dollar and a continuing white hot real estate market if interest rates stay low in this country.
Do you have a special skill set or do you own something that someone else wants? Trade it for something you need writes Marie Engen on Boomer and Echo. Bartering for goods and services instead of paying cash is a concept that is alive and well today. It can also save you a bundle.
For many people, paying off debt is one of life’s biggest challenges. Jessica Moorhouse blogs about four women who will inspire you to crush your debt. For example, Amanda D. from Ottawa paid off $64,000 in seven years. She consolidated all her debt with one bank, negotiated a lower interest rate and accelerated her pay down by doubling monthly payments and making periodic bulk payments.
How to purchase life insurance and what kind you need is a potential minefield for many people. On Money after Graduation, Bridget Eastgaard says buy term life insurance and avoid cash-value life insurance at any cost. That’s because cash value life insurance is much more expensive. Also, even one missed payment can void the policy which means you will lose both your insurance coverage and your premiums paid to date.
And since some of you still may not have planned a vacation for the summer or the balance of this year, take a look at Barry Choi’s blog The cost of travel: How to pick a vacation destination. He says daydream a little bit and pick your destination but be realistic if you can’t afford it or it really doesn’t make sense to go to Thailand in typhoon season. The easiest and most cost effective destinations may be locations where you have friends or family.
Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.