July 18, 2021

Is student debt preventing you from getting on with your life?

The transition from adolescence to adulthood is already being delayed, with young people taking longer to marry, buy a home and have children, but large student loans can slow the process even further.

The dead weight of student loan debt has been referred to as “the anti-dowry” in certain circles. And this anti-dowry is getting larger and more burdensome, with students who took out loans graduating with an average of $27,000 in debt last year.

Unlike a dowry, which in some cultures helps a young couple get set up in life, a stack of student loan debt is a millstone preventing many young people from getting on with their lives, maintains researcher Allan Carlson. 

This may mean boomeranging home with parents for years, or forestalling any kind of serious relationship with a potential life partner (let alone marriage), he adds. And, when they do eventually find that partner, that debt is often top of mind prompting delicate conversations about just what to do about it

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May 28, 2021

Save now for your child's education

1395713_25902915The road to education is an expensive one.

And that's why it is important to make sure you have a roadmap in place for funding your child's education.

If you're worried about how you will fund your child's post-secondary schooling, you're not alone.

According to a new report by BMO Bank of Montreal, two-thirds of Canadians share that same concern.

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May 24, 2021

Employers look for personality, skill set when hiring students

298822_6140Students are now winding up their high school and post-secondary education and getting ready to hit the pavement looking for job opportunities.

With almost half of Canadians employers (51 per cent) anticipating on hiring students or recent grads this year, it's good to know just what they are looking for in a candidate.

According to a survey by BMO Bank of Montreal, the candidate's personality trait came out on top with 30 per cent of business owners ranking this characteristic as the one of the most important qualities when selecting a new employee.

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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...