Do Vancouverites have low expectations of themselves and others regarding financial literacy? -vreaa
This article was posted on the news1130.com website 2 Apr 2010 1:34 am. Reproduced here verbatim and in its entirety:
Take advantage of latest price increases
Expert says there are ways to save and make more money
Andrea Macpherson Apr 02, 2010 01:34:06 AMVANCOUVER (NEWS1130) – The cost of living in B.C. went up Thursday with increases on ferry rates, TransLink Fare Saver passes and a hike on your BC Hydro bill. Financial Advisor Richard Knowles says there are some easy ways to save money and be a smart consumer. “Buy fares and to do purchases in bulk you travel BC ferries as an example on a regular basis, buy large booklets of fare in advance, just buy it in bulk because you get discounts for that.”
Knowles says when the cost of living goes up after awhile salaries usually go up as well. Knowles adds it’s a good time to save where you can and to take a look at any investments. “Another thing to do would be to invest with things that grow with the economy things like bank stocks or different types of equity investments might be growing up with the economy.”
Knowles also suggests diversifying your portfolio and invest in thinks [sic] that take advantage of inflation.
This guy is f’in dangerous. Salaries cannot rise over the next few years nearly enough to off set the increase in costs of living and interest rate rises. Any financial planner who does not recognize this general fact should not be given air time.
Things that “take advantage” of inflation? Hahahaha thanks for the laugh, vreaa.