Have you seen those people who, despite having a good job six-figure job, struggle with money? This happens due to poor or lack of finance and understanding of the market condition. So, to ensure a better financial condition and a safer future, it has increasingly become popular among people to learn about finance and take appropriate steps to ensure they stay safe from the worst of situations. So, no matter what your age is, if you are struggling financially, not due to lack of money, but the lack of financial discipline, then here we from PrestoCash, provide some practical tips to help you with your finances.

Why it is important to manage finance 

In today’s time, the gap between the poor and rich is increasing. And the only thing that will separate you from being poor or rich is your attitude and discipline with money. Moreover, managing finance is an important skill that will save not only you but also your family. So, whether you plan to live with your family or alone, learning the skills to manage money is important.

If you have taken a loan, especially online e-transfer loans, then you may know how easy it is to get a loan. Also, it can be addicting, giving you a false sense of having money when you actually don’t. However, loans can also be a great asset, which we will discuss in the upcoming part of the blog. So, to ensure you do not get addicted to loans and fall into a debt trap, we will discuss some practical tips to help you make the best financial decision to help you prepare for the worst time, like the upcoming recession in 2023.

What do people lack nowadays? 

Knowing what to do is not enough; it is also significantly important to understand why the problem persists or occurs. So, after studying various statistics and observing the thinking of the majority of people nowadays, we can conclude that people are being ignorant about major financial issues and often avoid them by saying, “we only live once” or “I will start saving money when I’ll be older.”

The problem with this is that people often live in a delusion that they can start tomorrow and save money once they have a good amount of money. Therefore, no matter your age or financial position, here are some of the best decisions you can take to improve your financial life and make it more secure.

Best decisions to take regarding finance

Have a saving fund

The saving funds will help you in your time of need. And the sooner you start, the more funds you will have to use. The specialty about these funds is that they are separate from your main funds; for example, if you earn $3000 a month and your average cost of living is $2000, so you can start saving $500 every month that you won’t use on anything except for major things like college fees and medical expenses, which can often come without any signs. This will ensure you will not stumble financially in case an emergency arises.

Get insurances

Insurances are important things that will help you in extreme conditions. There are various insurances available in the market which you can get to pay for certain things. Some common insurance you can get is health, life, and vehicle insurance. Insurance gives you an assurance that even if you do not have a savings or emergency fund and you face a problematic situation like a major illness, you can have the insurance to pay for your medical bills and expenses.

Use credit smartly to buy expensive items.

Credit is often disliked because it gives rise to debt and people often avoid debt. But when you look at it differently, you can find that buying expensive stuff with credit is way better than paying everything in cash or at one time. And how does it work? Simple! When you take credit to buy, let’s say real estate, you are using someone else’s money for the transaction, then basically, you are also exempted from taxes. This is because a tax only applies to your income, and as a loan is not considered income, you will be exempted from the taxes. So, you can use these to buy a home or anything big and not get taxed for it.

Understand the market

Understanding the market condition is highly important. In the current times, the prediction of recession is highly plausible. So, many things will be affected during this downturn, and everyday items will witness a spike in prices. This situation may be out of control, but we can surely prepare for it to reduce its impact on our lives. Learning how the market works and what factors to look for will allow you to get an insight into the market and also forecast its impact on the various aspects of life. You can keep an eye on the market by following news channels and other information sources.

Know your money

Keeping track of your money is one of the most important points of this list. You can’t expect to grow your income without knowing where your money is going. Therefore, if you want to grow your finances, and make sure you don’t fall victim to the circumstances, then you should know where your money is going. There are many apps available in Play Store and App Store that will help you track your money in real-time. You can also try various investment platforms to grow your money. So, no matter what phase of life you are in, you can improve your finances and life by keeping track of your money.

These tips will help you keep track of your finances and use credit wisely. Whether you have just started working or have a family, it is never too early or too late to start managing your finances. If you need any urgent loan to meet your immediate fund shortage, PrestoCash is here to provide you with online e -transfer loans immediately.

Christmas is upon us and has officially marked the end of 2022. So, with this note, as a parent, choosing a gift for your children can be difficult. There are many things to gift; among them, choosing one right gift that would neither be too lame nor overexploit your child can be difficult. Apart from the gift choice, the cost is also a major concern for many; you don’t want to spend too much on a gift that he would use for a few days, and then it will become a showpiece.

At PrestoCash, we not only provide you with fast e-transfer loans to buy these merchandise or items but can also provide you with some great gift ideas for Christmas. So, if you are ready to receive the finest gifts, check out our list of the best items you can buy for under $100 for your children at Christmas.

Items under $100 as Christmas Gift

The Elago 3-in-1

Does your child love Apple products? Then this Apple product is a must for them. The Elago 3-in-1 charger is a must-have for all Apple users. It comes with an Apple phone, air pods, and an Apple Watch charger. So you can charge all your Apple devices together. You can buy this from Amazon for $30.

Sprocket Select Portable Instant Photo Printer

These days, instant gratification is everything, so with the click of a button, the Instant Photo Printer can turn your digital memories into tangible keepsakes. With this instant photo printer gift, your child can personalize, edit, and print their selfies and other photos. Take a picture, print it, and keep it forever! You can buy this printer for $80.

Amazon Echo Dot (5th Generation)

Everything that makes the most popular smart speaker, the fifth-generation Echo Dot, so popular has been improved upon. The newest Echo Dot speaker offers crisper vocals and deeper bass for their favorite music and daily podcasts.

The new temperature sensor will help them maintain a comfortable home environment, and the expanded Wi-Fi coverage eliminates buffering. You can buy this for $50.

Bath Bomb gift set

Bath bombs should be substituted for traditional bath gift sets if your recipient prefers bubbles. Twelve bath bombs that won’t stain your tub are included in this set from Lifearound2Angels, all for a reasonable price. With scents like Lavender, Black Raspberry Vanilla, and Victorian Rose, each bath bomb is distinctive. You can get these from Amazon at $40.

Lunar Telescope for kids

The world is a big place, and what better way could be there other than showing them its vastness? So, gift your kids a lunar Telescope through which they can explore the mystics of space and experience the world’s vastness. You can buy these at $54 from Amazon.

NHL Air Hockey Table

The NHL air hockey is a new sensation in the market. It is a perfect gift for children in winter. They can play air hockey with each other and enjoy a fabulous time. The game is compact and made according to children. You can get it from Amazon for $65.

Rocking Narwahl

Have you seen a rocking chair? This is the smaller version, with a narwhal on top rather than a chair. This soft and fuzzy chair is perfect for your children’s bedroom. And has to be one of the best ways to keep your child occupied. You can get them for $90.

Razor Ripster

Is your child a teen? Then let’s give them something adventurous. The new Razor Ripster is one of the best ways to give a mild adventure to your children. First, surely, they will fall a few times; then, they will start improving. And through this, you can also give them a way to engage in outdoor activities. It is priced at $100.

Luxe Lounger Pillow

If your child loves dolls and goodies, Luxe Lounger Pillow is the perfect bed for them. It is a giant pillow on which your child can sit, sleep, or use as a headrest. So, gift your child a cuddle partner for $70.

Fujifilm Instax Mini 11

This Fujifilm Instax Mini 11 instant camera is the ideal present for anyone who wishes to join the trend of disposable photos returning. Your present recipient can use the 2 x 3 sticky-background graphics you print on the printer to customize their walls, notebooks, computers, and other surfaces. Additionally, it includes an app that enables you to edit photos before printing further. Now click on the go for $73 on Amazon.

Click and grow

Click & Grow is a convenient dirt-free container and a smartphone app; your present son/daughter can cultivate their own herbs and vegetables at home and get additional information about their harvest. The growing container is stylish and space-efficient, complementing any kitchen’s decor. The Click & Grow’s Smart Garden 3 offers space for three pods, making it a fantastic present for anyone wishing to grow just one plant or herb at a time. It is priced at $70.

Revlon One-Step Hair Dryer and Volumizer

Does your daughter spend hours in the bathroom straightening, curling, and spraying her hair to perfection? With the help of this cult-favorite Revlon One-Step Hair Dryer and Volumizer, help them create the smooth blowout of their dreams. With this, you can straighten and add volume to your hair in just 30 minutes. Get it for $37 from Amazon.

Grow-the-Fun Garden to Kitchen

Want to know one of the most well-liked toys of the previous year? Grow-the-Fun Garden to Kitchen has English and Spanish settings and is included in this charming playhouse, which is made for children between the ages of 6 and 36 months. It has a fridge-like form and a variety of adorable food-themed accessories for your young recipient to enjoy. Get it for $50 from Amazon.

End Note

These are our list of the best items you can gift your children without spending anything significant. Finally, as a bonus point, taking them on an adventure is also fun.

And do you have any guesses about the place?

No?

Then here it is. Enjoy a fabulous walk-in Canadian Tire Christmas Trail. It is a fantastic place for a long walk. It has a length of 1.5 km with several Christmas decorations. If you are running low on cash, don’t worry! We can help you! Get a fast e-transfer loan from us, and have a fantastic Christmas.

Have you heard the news that Canada’s housing market is going to crash in 2023? We are still determining how true this is, but based on the statistics and data we have gathered from various sources, let’s look at how all these things will work out and see if it’s really going to crash.

Since the start of Russia Ukraine war, the global financial balance has taken a major hit. People think a war in the other part of the world won’t affect this side, but this is false. When devastating events like war occur, it affects those countries and can change the course of various trades and finances around the world.

At PrestoCash, we don’t just want to provide you with instant e-transfer loans but also want to help you build your financial knowledge so that you can protect yourself from the adversities that accompany war. As there is nothing we can do about war, we can still know how these things will affect us. So let’s examine how these things will affect the Canadian housing market in 2023.

Canada housing market

In order to account for greater sales and price losses in 2023, followed by a comeback in 2024, TD Economics has updated its projection for Canada’s housing market. The bank predicts that home prices in Canada, which have fallen 22% from record highs in February, will fall 11% in 2023, and sales will fall 16%.

In early 2023, house sales are expected to reach a low point of roughly 20% below their pre-pandemic levels due to rising loan rates, which, together with skyrocketing prices, have rendered home ownership impossible for most of Canadians.

In 2024, TD predicts a significant home market recovery in Canada. The bank projects that in 2024, home sales will increase by more than 19%, and prices will rise by 6%.

Because the average home price in Canada continues to be much higher than the current US median price of roughly $390,000, the affordability crisis is affecting Canadians far more severely than it is affecting Americans.

The median price of a home in Canada soared to a record $604,000 in February before falling to roughly $470,000. The Canadian dollar is currently worth around $0.74. The Canadian affordability index uses the accepted criterion that monthly housing costs shouldn’t be more than 30% of monthly income.

Ontario Housing market forecast

If you are a resident of Ontario, then you may be wondering how the Ontario Housing market will perform next year. Real Estate experts have predicted that Ontario sales could drop 33% this year and 16% by next year. The prices will struggle to rise in 2023, but they are expected to rise by 2024 by 4%.

Alberta housing market forecast

Similar to Ontario, Alberta will witness a drop of 2% in prices by the end of Q4 of 2022, and it is expected to fall another 22% in 2023. However, that’s not all; the prices gain is also expected to be the slowest among all other provinces, staying at 3% and declining another 7% in 2023, according to TD Economics.

Edmonton housing market forecast

In an interview with Nathan Mol, a renowned real estate agent in Edmonton. Edmonton’s real estate market is a balance between the supply and demand of houses. Currently, market conditions are said to favor sellers, but as in general economics, when the prices are higher, the number of buyers will surely fall, and this simple move brings the cost down.

But this time, even if the buyers are declining, the Edmonton market is witnessing a low housing inventory.

These are three popular places where people are looking to buy or sell houses and want to know how real estate is working in this area. But the effects are not limited to just these areas; almost every part of Canada is experiencing loss in real estate sales and price drops.

How will these benefit People?

Whether you are a continuous buyer of property or a one-time buyer for a family, you can do different things to make the best of this situation. But you have to be cautious while making any major financial move. There are different factors that you have to consider while buying a home for investment purposes.

Moreover, the recession is also an important factor you need to note. These times will be hard on many people, but if you have enough financial knowledge, you can take advantage of this situation.

When prices for real estate go down, it is generally for a few months or years, and after they recover, they yield a higher ROI. But sometimes, they do not grow. And that is, the risk of investment could be due to poor locality, local jurisdiction, or new situations and changes in a consumer behavior pattern. They all can affect the price rise of real estate in a particular place.

Bank interest rate

According to new research from the Royal Bank of Canada, the average Canadian home costs 67% more than the average household can afford. According to the study, the average household would have to devote 60% of its income to housing expenses.

According to an analysis from Desjardins, housing affordability in Canada will worsen for an additional three to six months as a result of higher interest rates.

Since March, the Canadian central bank has increased its benchmark interest rate by 300 basis points, a larger increase than the ones implemented by the US Federal Reserve.

According to Desjardins’ Affordability Index, Edmonton and Calgary will regain their pre-pandemic affordability levels by the end of 2024, while Toronto, Montreal, and Vancouver will take longer because they saw the biggest increases in home prices.

The Canadian Real Estate Association reports that in September, the average price of a property in Toronto and Vancouver was above $800,000.

So, based on all factors, the Canada housing market will initially crash, but by the end or the starting of 2024 it will gradually rise. So, you can decide whether you should buy a home or wait for the market to crash more. But be sure to consider every aspect of finance before buying because a small miscalculation can cause major trouble. And yes, don’t forget, if you need any extra cash immediately, you can always count on us to get an instant e-transfer loan.