I am trying something new that I think you will enjoy. At the end of each month I am going to highlight some interesting pieces that I have read recently with a particular focus on underfollowed and underrepresented voices. I am always on the lookout for interesting and smart people that have a different take on the world of finance so if you find something that you think qualifies, send it my way and I will try to include it in future Other Voices posts.
The big news of this month in Canada was the CMHC tightening up the rules for home owners to qualify for insurance on their mortgage. It was a contentious decision by the government-backed insurer and was not without criticism. What were the changes and what do they mean to you? Alexandra MacQueen did this great write up in Money Sense that gives you everything you need to know. Alexandra is one of my favourite finance writers because she has a great knack for making the complex very simple.
Here is a double dip from Dasarte Yarnway of Berknell Financial in the US. I think this post from early May is a great reminder of the power of mindset in overcoming obstacles to your success. Read his 10 lessons at the end and try not to feel ready to take on the world afterwards. Best of all, it’s a list that applies to anyone in any field of work.
The last highlight for this month is from Canadian Millennial personal finance blogger, Desirae Odjick. Desirae wrote this succinct list of ways to prepare for a recession targeted to younger Canadians but it applies to all ages. The last two points are especially important because personal debt in Canada is at an all-time high and is only expected to go higher because of the economic fallout from the virus and lockdowns.