Credit Canada

I know there is always a lot of hype about investing, especially today. Where to invest, how to invest – I find it daunting myself. But I am reminded of what Warren Buffett, the most successful investor in history, once said:

“I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.”

There is one thing you can be sure of about investing, before you look for opportunities- – get rid of your debt. I don’t think there is better advice than that. It’s based on some 43 years of experience we have at Credit Canada, www.creditcanada.com, where we provide counselling and comfort to those who are struggling with debt and trying to manage their money intelligently.

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Now, I am not talking about mortgage debt. Let’s face it that is usually a long-term process. I am talking about high interest debt such as credit cards. If you have covered off your credit card debt, then I believe it could be a good idea to invest. But investments are often risky, and if you can’t afford to lose, you can’t afford to play the game. Put it this way, you can’t afford to take on risky investments anyway. (more…)

Lately in the news, we’ve all been hearing we are in an economic crisis.  People I talk to at Credit Canada and out and about often say, ”My job is stable; I won’t be affected by a recession.” or “I don’t have money in the stock market; I am safe.”  On the surface this may seem like a valid response to these uncertain times .  Here’s the problem as I see it… (more…)