A just-for-Thanksgiving list of 17 things that are going right in personal finance and investing

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There is much that may be financially worrying these days, but here are some things we can be thankful for

Bad news flows like a firehose these days, but there are still things to be thankful about. It happens that personal finance is a productive place to look for positive developments. Much is financially worrying these days, including household financial stress levels, bankruptcy trends and economic productivity. But some things that are going right deserve attention:The August rate of 2 per cent was down from a recent peak of 8.

and the speculation for the next rate-setting date, Oct. 23, is whether the bank will cut by 0.5 of a point en route to further cuts in the months ahead.Variable-rate mortgages are still above 5 per cent, but fixed rates have crashed through the 5-per-cent mark and are now approaching 4 per cent.Every Bank of Canada rate cut reduces the cost of borrowing for variable-rate mortgages, which were a popular choice in the housing market rally of 2021-22.

The average $650,000 national resale house price in August was basically flat on a year-over-year basis and about 20 per cent below the February, 2022, peak. Affordable is not the word to use here, but housing is at least calm for the time being.You can add up to $8,000 annually to an FHSA to a total of $40,000, with tax deductions for contributions and tax-free earnings and withdrawals. If you don’t buy a home, the money can go into your registered retirement savings plan tax-free.

. Load money on your card and use it for payments anywhere credit cards are accepted. Outside Canada, you won’t pay the usual 2.5-per-cent foreign transaction fees charged by most credit cards. Also look at the Wise prepaid card as a way to economically pay for purchases abroad.across Canada increased 2.1 per cent in September compared to a year earlier, the lowest increase since October, 2021. Rents declined in expensive cities like Toronto and Vancouver.

Are you a young Canadian with money on your mind? To set yourself up for success and steer clear of costly mistakes,

 

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