Oaken Update
Thank a Frontline Worker
Thank you to everyone who has nominated a frontline worker for special recognition. We have received so many wonderful stories and it is truly inspiring to read these amazing testimonials to the good work so many of our fellow Canadians have been doing to help others during these challenging times. As we’ve been hearing in the news, there is light at the end of the tunnel and while it’s too early to let our guard down just yet, we are looking forward to better days for all. With that in mind, we’ll be drawing one name from all the nominations we’ve received, and that person will be awarded a $6,000 Oaken Tax-Free Savings Account GIC! Keep watching our Facebook and Twitter pages for the announcement!
Tips for avoiding lifestyle creep
Lifestyle creep, or lifestyle inflation as it is also known, occurs when the amount you spend on discretionary items increases as your income increases. While it is only natural to spend more on non-essential things as your salary grows, there is a danger that in an effort to support a more lavish lifestyle, other considerations like ensuring that you are adequately saving for the future may fall by the way side. In this Oaken Blog feature, personal finance expert Barry Choi shares his thoughts on how to avoid overdoing it when it comes to finding the right balance between lifestyle and maintaining a budget. Read more here.
Fraud Prevention Month
March is Fraud Prevention Month in Canada, and even though the event is winding down for this year, it’s important to be on your guard the entire year. In fact, there is a new wave of fraudulent activity that Canadians now have to be on the lookout for that is centred on the current COVID-19 pandemic. As noted in an article posted to the Oaken Blog earlier this month, there are fraudsters out there now offering counterfeit COVID-19 tests and other unapproved medical products. There have also been instances of fake charities contacting unsuspecting people claiming to raise money for COVID victims. Read more here.
Rightsizing your retirement home
For those approaching their retirement years and who are still living in the large home where they raised their families, it’s often unnecessary to continue to maintain such a large house. The benefits of moving to a smaller, easier-to-manage home are a clear incentive for many, but there are a number of things to consider before making the move.Read more here.