The Year of Financial Austerity
Urban Departures
by Emily
1y ago
The city received a light snowfall on New Year’s eve. The next day, the ground was blanketed in a sheet of whiteness. Our son awoke excited, unaware of the new year, but eager to trod and make his mark on the blank canvas outside. Daniel took him outside, and the kid made a beeline for areas of snow not yet touched, dragging a stick on the ground to make tracks and drawings. “I only like stepping on clean snow,” the kid said. I stayed indoors with the intent of making tracks of my own in a new moleskine planner, the year 2018 printed on its crisp blank pages. I used my favourite 0.5mm black ge ..read more
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5 Things Worth the Money When Adulting
Urban Departures
by Emily
1y ago
I knocked on the door of my sister’s apartment, trying hard not to drop a bag filled with Muji ceramics and a sansevieria trifasciata. She had recently begun adulting-  graduating from university, moving our of our parents’ home and starting her career. The gifts in hand  were a housewarming present to celebrate her new life milestones. My sister opened the door, inviting me into her brightly lit apartment. The space was unfurnished, completely empty with the exception of 15 or so pairs of shoes lined up against a wall. I laughed at the shoes – how silly they looked in the vacant roo ..read more
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Millionaire Teacher: Second Edition Review
Urban Departures
by Daniel
1y ago
From electric cars to re-usable rockets, new innovations and unanticipated breakthroughs can completely alter how we think about the future. With the exception a fine wine or smelly cheese, there aren’t many things that age well over time. The same can be said about financial advice. The Fintech revolution, along with tools made available in recent years, has shifted the financial landscape. The new rules are slowly starting to change the way we think about money. Advice that made sense a few years ago also needs to evolve to keep up with the times. Enter Millionaire Teacher: The Nine Rules of ..read more
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Not buying second hand? You should be.
Urban Departures
by Daniel
1y ago
Who still buys second hand? When my family first moved to Canada, my parents couldn’t afford many new purchases. I remember visiting New to You, a program for gently used second hand clothing, at the local community center. As my family became more financially established, we progressed from trips to the community center to afternoons perusing through Value Village. From community programs to garage sales and thrift stores, the second hand economy no longer serves only to support struggling families. According to Kijiji’s latest Second-Hand Economy Index, nearly 70% of Canadians have bought or ..read more
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10 Things You Need to Know about Mortgages
Urban Departures
by Daniel
1y ago
Mortgages are a tricky business. Nobody looks into them until they’re needed and it can take some time to fully understand the ins and outs. If you’re considering on buying a home, here’s a primer on 10 things you need to know about mortgages. 1. The minimum down payment rules have increased As of February 2016, the minimum down payment needed to buy property has changed and is now dictated by the following: If the property less than $500,000, the minimum down payment is 5% If the property is between $500,000 and $999,999, the minimum down payment is 5% on the first $500K plus 10% on the next ..read more
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The Millennial Guide to Buying a Home
Urban Departures
by Daniel
1y ago
The journey of every first-time home buyer starts with the underlying desire to establish roots, build a home and maybe even start a family. It’s challenging to navigate the obstacles in the home buying process; saving for a down payment and securing a mortgage take patience and determination. It’s not every day that you’d commit to take on hundreds of thousands of dollars in debt and the emotional roller coaster is enough to drive anyone crazy. In the spirit of Financial Literacy Month, here are a few things to consider if you’re in the market for a new home purchase. To Buy or not to Buy? Th ..read more
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Financial Philosophy: The Road Map For Making Financial Decisions
Urban Departures
by Emily
1y ago
Daniel and I lived as DINKS (dual income, no kids) for few years between paying off Daniel’s student loan and starting a family. We were both in the consulting industry as engineers and made a decent wage; we had a lot of disposable income. We did as all young folk do: eat, play and travel. Within our means of course. Way below our means, actually. We were good savers. Saving was ingrained into our lifestyle, a product of our upbringing. We both had the stereotypical cheap Asian parents. We spent and spent and spent, but we also saved and saved and saved. Until one day, we had a chunk of money ..read more
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JustWealth: The new Robo-Advisor in town
Urban Departures
by Daniel
1y ago
The Fintech scene in Canada just got a little bit more interesting. Financial innovation brought on by advancements in technology have opened up new investment options that disrupt traditional institutions; the trend is starting to pick up steam. Robo-advisers have been steadily growing in popularity with players like Nest Wealth, Wealthsimple, and Wealth Bar relying on computer algorithms to manage investments and reduce costs. New competitors will continue to shift the landscape away from high investment fees and benefit investors. Ladies and gentlemen, the latest online portfolio manager in ..read more
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Why Cebu, Philippines is for everyone
Urban Departures
by Emily
1y ago
It was grey and raining when we first arrived in Cebu City. The taxi ride from the airport to the hotel took over forty minutes; it wasn’t far, but the traffic was slow that day. Time stood still as I watched pedestrians and motorbikes make their way around our cab. We finally reached our tiny nondescript hotel all jet lagged and cranky. The room was small, and the area was a little run down. We spent the night in transit eager to be on our way. We left for Bohol the next day. Beautiful, slow, sunny Bohol. I was hesitant to return to Cebu City given the brief but cloudy first experience. Lucky ..read more
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Exploring Bohol, Philippines with Kids
Urban Departures
by Emily
1y ago
It took almost three days to get to Bohol. First it was the 26 hour flight to Manila from Toronto. We stayed overnight and then took the first flight to the city of Cebu, a major port in the Philippines. We stayed a night in Cebu, stepping out only to grab dinner and some provisions (baby food and mangoes). The morning after, we took the 2 hour boat ride to Tagbilaran, Bohol, and finally an hour van ride to the town of Loboc. Sounds tiring, doesn’t it? It was, especially with two jet-lagged kids, one of which had her eating schedule reversed and would only nurse at night. The first thing I did ..read more
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