Secure Investments That You Can Make

One of the deterrents of investing is how unstable the markets can seem. Many people are not willing to place their hard earned money in ventures that they are not even sure are going to succeed. The dismal state of the economy only proves the mistrust that many people view investment with. This fear of financing, however, can prevent many people from making a profit in the long run. There are, thankfully, methods to invest your money and limit the amount of risk that you face. Here are some of the ways you can invest with some measure of security:

Gold

Many investors advise people to begin buying gold. This is because, compared to many other commodities, this precious metal is actually stable. The value of gold has been quite consistent for many years. It is certainly a more established investment than currency. It also requires minimal risk. Once you have purchased a few ounces of gold, there is no immediate threat to your investment.

You can simply wait until you wish to sell the precious metal. When the prices are high enough, you can sell your amount of gold for a handsome profit. This type of investment ensures that there is no continued risk to your venture at all. As you have physical ownership of the commodity, you are entirely in control of what happens to it.

Savings Account

One of the advantages of a savings account is the liquidity that it offers. Few other investments or commodities can be accessed quite as easily as a savings account. Most banks allow you to withdraw a specific amount of money, at least six times a month. The more you have in your savings account, the more interest you earn. This is also a great method to encourage saving.

To make the best of a savings account, shop around for the highest interest rates on your savings. It is important to note the minimum required when opening the bank account. You should also check how much you are required to have in your bank account at the end of each month. To ensure that your income is truly safe, you should invest in a bank that is a part of the Canada Deposit Insurance Corporation (CDIC). Authorities such as these will insure the savings that you place in the account. This will allow you to protect your savings from unforeseen events.

Canada Premium Bond

The Canada Premium Bond (CPB) is guaranteed by the Canadian government. These bonds can be bought at most financial institutions throughout Canada. You can purchase one for as low as $100. Once you have bought a certain number of bonds, you will receive interest on this investment every year until the bond matures.

You can then redeem your original investment. This method offers you a great way to earn a little extra money, depending on how much you have invested. As this venture is guaranteed by a government entity, there is reduced risk.

Investment does not always have to be a gambling game. There are often times when you can remove the risk from the equation and make a stable investment.

 

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Is the Number of Payday Borrowers Really Increasing?

Payday lenders offer short term loans to customers, usually for a maximum of 31 days and with rates which are sometimes in excess of 500%. There are various reputable payday lenders, such as Wonga, however there are many who are not properly regulated and as a result, are charging disproportionate fees to borrowers. Payday loans are designed to deal with short term financial problems, such as an unexpected bill. They are not supposed to be used on an on-going basis to make ends meet; however, many borrowers are using them in this way and are sometimes paying back as much as four times the amount of the initial loan.

Vancity Talk Payday Loans

Financial establishment, Vancity have reported on payday loans, saying that there has been an increase in the amount of borrowers turning to payday loans during periods of financial difficulties. They say that the number of people using payday loans has increased by 58% in two years, with an increase of 604% in those who have taken out 15 or more of these loans. The report also talked about how borrowers are finding themselves trapped in a spiral, whereby they can’t afford to pay back the loans.

Industry Opinion

The payday lenders don’t share this opinion though and are not quite sure where the figures have come from. The Canadian Payday Loan Association spoke out about the comments, saying that they believe these numbers are incorrect and that in fact, there has been a decline in the number of payday lenders, due to regulation changes. Payday lending may have decreased but it still prominent within our society, due to the credit crunch and the fact that many people are still struggling to keep their heads above water.

Why Borrowers Turn to Payday Loans

There are many reasons why a large number of Canadians are turning to payday loans as an answer to their financial troubles. Many Canadians don’t have bank accounts as a result of where they reside or the fact that they feel the charges would be too high. A large number of borrowers are unaware of how much it can cost to take out a payday loan. There are high rates of poverty in some areas and low earners are finding it difficult to make ends meet. Although it can be a temporary fix for urgent needs, the payday loan is not supposed to be used over and over, which is where the trouble starts.

Potential Changes to Legislation

There have been a number of reports about payday loans in the news recently and recommendations have been made about potential changes to legislation. Some of these would be a greater transparency over the fees being charged, a tailored approach to lending, i.e. carrying out checks to ensure the borrower can afford to pay it back and providing customers with information on financial management. Some of these changes have already been implemented in the US, but Canada is yet to fully follow suit.

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7 Green Canadian Scholarships to Apply For

Wouldn’t it be great to save money in college while also proving to the world how environmentally conscience you are? Well, you can by applying to green scholarships! The aim of these awards are to promote eco-friendly practices to the next generation so that our planet will stay safe and healthy for the foreseeable future. If you’re a Canadian citizen who’d like to reduce educational costs while also increasing your environmental activity, below are 7 earth-friendly scholarships from various companies and organizations.

The Brower Youth Awards

This scholarship is open to youth between the ages of 13 and 22 living either in Mexico, Canada or the United States. Each year six winners will be awarded a $3,000 cash prize in addition to a week long trip to the San Francisco Bay Area to participate in camping, media engagements and environmental conferences. The Brower Youth Awards wish to encourage students to either engage in sustainability projects, offer environmental analysis or earth-friendly ideas to help make the world a better place. The deadline is May 18.

Gaspard Keep Canada Green Online Scholarship Contest

Gaspard, the maker of academic regalia, is offering 11 scholarships to eligible students; one worth $2,500 and the rest $1,000. All you have to do is complete a series of online trivia questions found on the site www.keepcanadagreencontest.ca. The trivia questions are all based on the environment and are meant to be educational and fun. The deadline is April 10.

The Bill Mason Memorial Scholarship Fund

Provided through Paddle Canada and running since 1990, the Bill Mason Memorial Scholarship Fund will award $1,000 to help lower the educational costs of “tomorrow’s environmental stewards”. There’s no official application form to submit, rather, you must provide a cover letter and confirmation of eligibility in addition to answering six questions that must be mailed to the organization (side note: if you want to remain a good environmental steward, there’s eco-friendly printing paper offered from various companies that use recycled material). The deadline is September 30.

Canadian Youth Environmental Leadership Scholarship

Cenovus Energy, a Canadian oil and natural gas company, will award a $5,000 scholarship to two Canadian students with at least 2 years of undergraduate study completed. In addition to the monetary award, the scholarship also allows the opportunity for paid summer employment, mentor-ship and invitations to annual gatherings with stipends.

Air & Waste Management Association Scholarships

This organization offers a number of scholarships per year to students pursuing earth friendly careers. You’ll find international scholarships as well as local and chapter scholarships available. Also, in addition to winning funds for school, you’ll also be featured in EM magazine for environmental managers if selected.

Apprentice Ecologist Initiative

The Nicodemus Wilderness Project sponsors this scholarship worth $850. To be considered you must create an environmental stewardship project (something that benefits the environment like reforestation or a recycling operation), take photos of your activities, write an essay and upload that onto the website. The deadline is December 31.

Annie’s Sustainable Agriculture Scholarships

Annie’s is a company that provides organic foods (no GMOs, synthetic preservatives, pesticides, etc) promoting a healthy and eco-friendly lifestyle in the US and Canada. They offer annual scholarships with two award amounts: $2,500 and $10,000 each that can definitely help lower the cost of college expenses. They believe in being transparent with their earth-friendly business and so offer sustainability reports every year to prove they’re good environmental stewards.

 

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