Press Release
Hey gals, here are the worst mistakes you’re making with money
–News Direct–
By Serah Lewis and David Saric
While we adhere to strict editorial guidelines, partners on this page also provide us earnings.
Ladies, we can be truly savvy with our dollars, especially when it comes to finding a great deal. Women are so good at managing money that 20% of Canadian spouses relied solely on their female partner to set and follow the household monthly budget, according to survey released in 2023 by Loans Canada, the nation's first loan comparison platform.1
However, even those of us accustomed to pinching pennies on a regular basis, can make a few key mistakes. To help, here are the five biggest mistakes women make with their money ranked from not-such-a-big-deal to stop it right now!
Buying poor quality clothes
When most women are shopping on a budget, they end up with clothing that falls apart or shrinks after a few washes. Instead of buying throwaway fashion trendy clothes at low prices consider investing in a few pieces of high-quality closet 'staples.'
Stores like Club Monaco, which was founded with the concept of offering "better basics," is a quality step-up from fast fasion, and one good option if you want a closet full of useful, wear-anywhere fashion staples.
Another option is second-hand clothing. Even when clothing is used, it still lasts longer than poorly made fast fashion. For those open to the idea of shopping and wearing second-hand clothing, can find great options either online or through brick-and-mortar stores that specialize in good quality second-hand clothing. For instance, websites like Poshmark offer high quality name brands at more accessible prices.
Change where you buy your clothes and what you buy and you could save hundreds of dollars in a year or two.
Not investing
The stock market is dominated by male investors. Hollywood portrays investing as a boys club fueled by adrenaline and testosterone, especially in movies like The Wolf of Wall Street.
But studies show that women who opt to invest in stocks and other equities tend to outperform men. The theory is that women are less reactive to market fluctuations, according to report from Fidelity Clearing Canada2 and more apt to sticking with their financial plan and investing strategy. Another theory is that women are less prone to chasing market returns and more invested in stable, long-term strategies an investment strategy often promoted by finance experts like Warren Buffett.
The good news is that you don't need thousands of dollars and a broker to begin investing. Women can start trading using an online brokerage account. There are bank-offered brokerage accounts, such as CIBC Investor's Edge, as well as fintech trading platforms, such as Wealthsimple and Questrade. The key is to find an online brokerage account that suits your needs. For those new to investing, consider a brokerage account with a robust educational component. For instance, CIBC Investor's Edge offers articles and tips on how to start and increase your trading knowledge. Right now, new clients get 100 free trades and up to $4,500 cash back when you open a CIBC Investor's Edge account.
If your aim is to launch a buy-and-hold investment strategy and avoid the stress and fees of active trading you'll want an online trading platform with no- or low-cost trading fees.
To help you choose, consider the following options:
CIBC Investor's Edge: Great for beginners + Best promo for new account holders
CIBC Investor's Edge stands out as a compelling choice for both seasoned and novice investors. For clients who already bank with CIBC or their online-only bank affiliate, Simplii Financial the integration between bank accounts and investing platform is simple and easy. Not only does CIBC Investor's Edge offer competitive pricing, with trades ranging from $4.95 to $6.95, but new clients can expect 100 free trades and up to $4,500 in cash back. If you're under the age of 25, you can continue your investing journey with ongoing free trades. Open an account, today.
Wealthsimple: Ideal for variety + Great for automating investments
Wealthsimple is one of the most popular investment apps in the Canadian fintech space, and its no secret why. There is no minimum to open an account, and they offer a variety of portfolios to suit every investors personality. Plus, Wealthsimple Trade will reimburse an outgoing administrative transfer fee of up to $150 on investment account transfers valued at more than $5,000. It offers stock trading, crypto trading and autopilot investing.
Moka: Low-cost flat-fee robo-advisor + Free stock and ETF trades
Set up automatic savings and automated investments using the Moka account. Fees will cost you between $7 to $10 per month, but this low-cost fee gets you access to five professionally managed investment portfolios, as well as free stock and ETF trades. Open a Moka account, today.
Questrade: Low-cost trading platform with robust investor tools
Get a $50 rebate on trading fees when you open a new account.
Not maintaining a good credit score
Women tend to have worse credit scores than men, according to MSNBC3. Men tend to have an average credit score of 630, while women average around 621. Credit scores range from low 500s to 900.
One easily-accessible option for building and maintaining a good credit score is to use a credit card. Used correctly, credit cards are great for building your credit history. However, when credit cards are maxed out, these short-term loan options hurt your budget and your credit score.
If you need to start building your credit history, consider applying for a credit card that caters to people with no- or low-credit scores.
If you need to rebuild your credit score and part of the problem is a high credit card balance consider finding a way to reduce the interest paid on this debt. For instance, using a low-interest credit card can help you reduce the interest charged on the outstanding balance. This reduces the amount of money you spend on interest and frees up cash that can be used to pay down the debt. Do this consistently always making minimum monthly payments on all outstanding debts and you'll get out of debt faster and rebuild a robust credit score. Good low-interest credit card options include:
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MBNA True Line Mastercard: Annual interest rate is only 12.99% and there's no annual fee. Get this card before December 31, 2024, and pay 0% interest for 12 months on all balance transfers completed within 90 days of opening the account, although a 3% transfer fee applies. Still, transferring a balance an outstanding balance of $5,000 from a credit card that charges 20.99% interest per year, could save you more than $550 that first year. Apply for the MBNA True Line Mastercard.
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MBNA True Line Gold Mastercard: Like the True Line card, this credit card charges a low annual interest rate of just 8.99%, but you'll need to pay an annual fee of $39. Apply for the MBNA True Line Gold Mastercard.
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Scotiabank Platinum American Express Card: This card comes with a steep annual fee of $399, but the low annual interest rate of 9.99% means you'll pay much less when carrying a balance. Approximately $4 per month for every $500 owed. Plus, this card doesn't charge foreign transaction fees on any foreign currency purchases making it a great travel companion and you earn two Scene+ points for every dollar spent. Until October 31, 2024, new account holders can earn up to $2,100 in value (in the first 14 months), including up to 60,000 bonus Scene+ points. Apply for the Scotiabank Platinum American Express Card, today.
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Scotiabank Value Visa: This Visa card charges an annual interest rate of 12.99% and, until October 31, 2024, new account holders will pay no annual fee a savings of $29 and pay 0% interest on balance transfers for the first 10 months. Apply for the Scotiabank Value Visa, today.
Falling for pyramid schemes
So many mothers are under pressure to 'have it all.' Work-at-home pyramid schemes with people on the bottom making very little money specifically target women who want to earn an income while raising their kids. The desire to do it all isn't new and the schemes that prey on this desire are also not new, according to 2021 article published by the Huffington Post4.
These companies know how to prey on women's insecurities including the idea that you must be popular to be valued and you must earn to have a say in household monetary matters. Dont fall into this trap. Take the time to educate yourself about pyramid schemes5. There's nothing wrong with wanting it all but you will need to prioritize what's important, right here, right now.
Undervaluing your skills
Women are still paid 9.2% less than men, on average, even if they have the same education and work experience, according to data released by Statistics Canada6.
If you've been working for your company for a while, dont be afraid to ask for a raise or to inquire if a promotion might be available.
Speaking up can be tough, especially if you sense that your boss doesnt recognize your true value. If you find yourself stuck in a pay situation that probably won't get any better, it may be time for you to look for new opportunities elsewhere.
with files from Shannon Quinn and Leslie Kennedy
Trade Smarter, Today
With CIBC Investor's Edge, kick-start your portfolio with 100 free trades and up to $4,500 cash back.
Sources
2 Fidelity Clearing Canada: Why women are a major force in investment circles (Mar 2024)
3 MSNBC: Being a woman hurts your credit score Here's what you can do about it (Dec 17, 2018)
4 Huffington Post: MLMs are a nightmare for women and everyone they know (Jan 29, 2021)
5 Competition Bureau Canada: Pyramid schemes
6 Statistics Canada: Intersectional perspective on the Canadian gender wage gap (Sept 21, 2023)
Contact Details
Wise Publishing, Inc.
Aaron Young
+1 310-500-8744
aaron.young@wisepublishing.com
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/hey-gals-here-are-the-worst-mistakes-youre-making-with-money-597052139
Money Canada
COMTEX_453168353/2655/2024-05-31T11:29:05
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
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Contact details
Company name: Thunderball Results
Website link: https://thunderballresults.uk
Contact email: info@thunderballresults.uk
Country: United Kingdom
City: London
Contact person name: Thomas Ferguson
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Champ, is that you?
Since the 1600’s, tales of a mysterious sea serpent named Champ, named after explorer Samuel de Champlain, have been part of the folklore of the Lake Champlain region. The lake borders New York and Vermont. Champlain and the Abenaki tribe were the first sightings of Champ in the historical record.
Champ remained elusive. The only notable visual evidence was a photo taken in 1977 by Sandra Mansi.
Until now. For the first time in history, a video that allegedly captures the legendary lake monster on film is being hailed as the “most notable visual evidence” of Champ. Some compare it’s impact to the Patterson-Gimlin film impact on the Bigfoot cryptozoology community.
Independent filmmakers Kelly Tabor and Richard Rossi were shooting a fictional film ‘Lucy and the Lake Monster’ about a 9-year-old girl and her grandfather looking for Champ, a legendary lake monster rumored to live and lurk in the murky waters of Lake Champlain. The film is based on their bestselling book of the same title.
As part of their shoot, their cameraman sent a drone above the lake in Bulwagga Bay, and what they saw in post-production stunned them.
They posted ten seconds of what is now known as the Tabor-Rossi footage on YouTube and 36,000 views later, it has provoked discussion and debate about what appears to some to be a plesiosaur swimming below the lake’s surface, behind a boat containing the two lead actors in their film, Emma Pearson and Richard Rossi. The footage of the plesiosaur can be seen here: https://www.youtube.com/watch?v=Dkpzfqlt3PI.
(Plesiosaurs are a sea creature from the dinosaur-dominated Mesozoic era.)
Tabor and Rossi’s recent interview on the Cryptid Creature podcast was posted on Spotify. The duo submitted their footage and story for assessment by the two hosts, Todd Stevens and Brian Brock. Stevens eloquently summed up his conclusion, affirming the veracity of the footage.
“The creature is bigger than the boat, fifty yards behind the boat, Stevens said. “It has a plesiosaur body. It is not sturgeon, or multiple sturgeon. It is one large body moving.” The entire Cryptid Creatures interview with Tabor and Rossi can be heard here: https://play.cdnstream1.com/s/streamkastplus/cryptid-creatures/the-lake-champlain-monst-5a5bbe
Tabor first spotted the creature in the footage, editing on her large screen T.V. “It’s poetic that Kelly saw it first,” Rossi said. “She has been looking for Champ for over fifty years.” Tabor grew up in a cabin on Lake Champlain in Crown Point, New York.
“We inadvertently caught this on camera,” Tabor said. “We weren’t trying to.”
If Kelly Tabor is the true believer of the screenwriting team, her writing partner Richard Rossi is the Doubting Thomas, insisting on the footage being evaluated by scientists with a doctorate in science and to prepare a report for peer review in 2025.
“I’m the more skeptical one compared to Kelly,” Rossi said. “But there’s definitely something there.”
The filmmaking crew was so busy filming the movie, they didn’t catch the anomaly in the footage until later, in the post-production editing stage.
Multiple versions of their footage are now on Pinterest and YouTube as cryptozoologists use their tech savvy to zoom in on the Champ image, and use coloring to do morphological enhancements and evaluations.
The Tabor-Rossi Champ footage is incorporated into their fictional film, ‘Lucy and the Lake Monster,’ at about the four-minute mark of the film. The movie has screened in theaters in New York, New Jersey, Vermont, Pennsylvania, California, and South Carolina. This month, it won 12 awards in film festivals. It will be released on DVD and streaming next year.
“As filmmakers, our primary focus is on the art form itself. We don’t respond too much to the debate around the footage,” Rossi said. “We try to focus on doing the best job we can in our screenwriting, acting, cinematography, and music. It’s nice that Champ has blessed us with the benefits of headlines that let people know about our book and the film, but at the end of the day, our focus is on showing the film and writing the next sequel. Champ has been a great publicist.”
“Champ is also one of the biggest stars in our new film,” Tabor added.
Media Contact:
Reporter Christy Collins
richardrossilive@gmail.com
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Since its inception in February 2023, Barracuda Coin has been preparing for a highly anticipated launch, positioning itself as a prominent player in both the cryptocurrency and sports sectors. Backed by significant sponsorship deals with numerous sports events, Barracuda Coin is poised to make an impactful entrance into the crypto space, aligning itself with the competitive energy of professional sports.
Ethereum-Based Token with a Strong Focus on Sports
Barracuda Coin is built on the robust Ethereum blockchain, ensuring security and reliability for all transactions. With a total supply of 75,000,000 tokens, Barracuda Coin is already gaining traction through its involvement in MMA and K1 sports sponsorships and has established itself as a key sponsor for numerous professional sports events.
In tandem with the coin’s launch, Barracuda Coin will release a unique NFT collection featuring high-performing athletes, giving fans and collectors a unique opportunity to own exclusive digital assets tied to their favorite sports icons.
Staking Program for Early Investors
To reward early supporters, Barracuda Coin is launching an attractive staking program with two levels of rewards:
- Investors who join during the reservation phase will receive 75% monthly interest for 6 months.
- Those participating in the presale will enjoy a 30% monthly interest over the same period.
Important Dates and Pricing
- Reservation Phase: Beginning on November 4, 2024, and running through November 28, 2024, the price per Barracuda Coin (BARR) during this period will be $0.019.
- Presale Phase: After the reservation period ends, the presale will begin at $0.05 per token, gradually increasing up to $0.15.
- Official Launch: Scheduled for December 23, 2024, with the token price projected to reach $0.36.
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Designed with the entertainment and sports industry in mind, Barracuda Coin is set to seamlessly integrate with the pay-per-view model, making it the ideal token for fans. With fast, secure, and transparent transactions, Barracuda Coin will allow users to easily access premium sports content and live events, bypassing the challenges of traditional currency exchanges.
About Barracuda Coin
Barracuda Coin is more than a cryptocurrency; it’s a platform connecting the worlds of sports, crypto, and digital assets. Focused on creating a space for sports enthusiasts, collectors, and investors alike, Barracuda Coin offers a comprehensive platform that includes a strong staking program, an exclusive NFT collection, and seamless integration with pay-per-view sports. With these innovative offerings, Barracuda Coin is set to establish itself as a leader in both the cryptocurrency and entertainment sectors.
Register and Be Part of the Barracuda Coin Community
Investors are encouraged to participate in the reservation phase to secure tokens at the lowest price and maximize staking rewards. For more information, visit https://barracuda-coin.io/
Media Contact:
Barracuda Coin
support@barracuda-coin.io
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
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