5 min read

Why is everything so expensive?

By Trevor Lagerwerf on Jan 10, 2023 10:25:00 AM

Do you remember the good old days: $5 footlongs at Subway, Toonie Tuesdays at KFC or a BigMac extra value meal for less than $5? The price of these delicious meals long ago versus the prices now are examples of inflation. Sadly, this has drastically affected my fast food addiction. Unless you’ve been living in a cave, I’m sure you’ve noticed that hardly anything lately has been immune to these price hikes. In this blog, I am going to do my best to describe inflation, how it can hurt your future self and some options you have available to reduce its effects.

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
2 min read

“Buy now pay later” is all the rage. So what’s the deal?

By Sandra Arsenault on Oct 27, 2022 1:19:59 PM

Remember back in the day? “But wait… there’s more! With only 10 easy payments of $19.99, you receive not one, but TWO snuggies!”

The idea of making small and easy payments after receiving an item was almost thought of as a bit of a joke or meme.

However, I recall a couple of years ago purchasing an iPhone on the Apple website. On the checkout page, I was surprised to see the option of paying it off in 4 equal monthly payments. No fees or interest, they said. Lately, I’ve started seeing this option on more and more websites: Wayfair, Amazon, Best Buy.

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
3 min read

Do I really need to start saving for my child’s education this early?

By PenFinancial Credit Union on Sep 1, 2022 12:03:22 PM

Whats the Big Deal?

The news coming out of the USA that up to $10,000 of student debt was being eliminated for most students by the government has dominated the news these days as we once again approach the beginning of school.

And it’s no wonder why that’s such a big deal as post-secondary costs continue to rise not just in the USA, but right here in Canada.

Topics: Financial Literacy RESP Financial Advice Financial Planning
2 min read

The 5 Best Ways to Raise Your Credit Score

By Sarah Bujacz on Jul 28, 2022 8:45:00 AM

As life continues to return to “normal”, whatever this new normal looks like, we are seeing an increase in people asking about improving their credit score. Your credit score may have been impacted throughout the pandemic for a variety of reasons, but let’s focus on moving forward and improving it.

Topics: Financial Literacy Personal Credit Financial Advice Truly Local Articles
2 min read

5 reasons to choose a Credit Union

By PenFinancial Credit Union on Nov 16, 2021 1:34:11 PM

When it comes to personal finances, Canadians have a lot of choices. It can be overwhelming. While there are plenty of options to choose from, have you considered a credit union?

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
4 min read

Should I pay off my mortgage or invest more?

By Thomas Rathonyi on Jun 24, 2021 9:58:21 AM

With the current low mortgage rates, I am finding a lot of my members have the same question: should I try pay down my mortgage faster, or should I start/continue investing in my future? My answer is always the same: it depends! The reason I cannot give a definitive answer is due to the number of factors that make each of us unique. In this blog, I would like to share some of the factors I consider when giving advice to my members, and I am hoping I am able to help more people make the decision that is right for them.

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
3 min read

Stop ducking and start 2021 with a plan

By Thomas Rathonyi on Jan 11, 2021 3:48:25 PM

“An ounce of prevention is better than a pound of cure.” So said Benjamin Franklin, who didn’t have to live through 2020 and eat his way through 32 pounds of home-baked bread. But he was on to something. What he suggested was that we should deal with a problem by putting in a bit of time and planning upfront, instead of constantly ducking like we’re living in a real-life game of whack-a-mole.

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
3 min read

5 Ways to improve your credit score

By PenFinancial Credit Union on Jun 22, 2020 9:31:08 AM

Credit is a staple in our modern world. And many of us have been impacted by the COVID-19 pandemic over recent months. As businesses begin to open up, we thought it would be an appropriate time to discuss some ways to improve your credit score. Gone are the days of buying a home with two bags of flour and a handshake. You need credit to qualify for big-ticket items like cars and homes, and often for smaller items, like mobile phones. Your credit score determines whether financial institutions and other lenders will give you money for such purchases.

Topics: Financial Literacy Personal Credit
5 min read

Learning and becoming involved: How to be an empowered young investor

By Trevor Lagerwerf on Mar 30, 2019 4:12:39 PM

Ben Franklin said, "Tell me and I forget. Teach me and I remember. Involve me and I learn." When I found that quote I realized something: it sums up PenFinancial’s wealth advising nicely, especially for young investors. We offer a personalized education to empower you and help you achieve your dreams.

Topics: Financial Literacy Personal Budget Financial Advice Financial Planning
3 min read

The power of financial literacy: Breaking the cycle of poverty

By PenFinancial Credit Union on Nov 29, 2016 1:03:09 AM

Team ENERGI is changing lives. ENERGI stands for “Enterprise Niagara for Employment Resources and ‘Green’ Initiatives” – and a whole lot more. Since 2009, the Team ENERGI program has delivered life skills workshops, employment supports, and hands-on work experience to youth facing barriers to employment in Niagara.

Topics: Financial Literacy Truly Local Articles
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