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Financial management myths get debunked



Knowledge about effective financial management has become almost quintessential in the current economic environment. But with wealth chasing being the top priority, not many of us find time to sit down and actually acquire that knowledge from the experts. Instead we turn to our friendly knowledge database – the internet – to find answers to serious financial questions such as liquidating mortgage loans, handling the credit card escalation matrix, solving the NPA problem, and so on. Since the internet, instead of being a reliable resource, is actually an ocean of completely irrelevant but highly convincing answers, we mostly end up believing in wildly ridiculous myths. Here we look at such common myths about financial management and find the logical way to debunk them.

1. A step higher in your career will take you above your financial troubles

We often think about changing the way we spend and curbing the expenses on the credit card bill, and wonder how changing things like job, location, bank accounts will make finances more manageable. But the truth is, our financial problems will follow us around, no matter what we do, unless we seek out an internal change. According to National Debt Relief, our habits and practices are the main reason for most of our financial troubles. So regardless of the raise you get or the city you live in, if you have the habit of overspending, then you will ultimately end up facing debt problems. So forget advices about moving to a better paying city or a new career path for solving your financial problems and focus on changing the habits that impact your bank balance the most.

2. Believing is actually not everything

The latest trend created by self-help gurus is convincing people that they can achieve anything by just mentally visualizing it and believing that they can. But the truth about money is, you can’t earn even a single penny just by dreaming about it. Though visualizing the future goals and the wealth you may acquire with constant hard work can prove quite helpful in motivating a person, continuing to live in the dreamland will only cause regret. Significant financial change will occur when you write down your long term financial goals, make a blueprint of the practical ways that can be made possible, and outline the step by step way in which you can achieve it. This technique will give you clear a picture of where you stand in reality, rather than make you dream all day about luxury villas and expensive cars when you have thousands of dollars in credit card loans.

3. Forget the negativities in life

While it’s true, being negative all the time can be detrimental to both health and social life; suppressing negative emotions is not actually the best way to be positive. A number of so-called financial management gurus of the internet will advise you to forget the negativity and delete the dark financial past of your life and lead a new one. But just trying to forget or forcefully suppressing such memories is only going to cause more hurt than good. The negative thoughts will keep surfacing every now and then interfering with even the best laid financial plans. So the best way to solve it once and for all is to confront it. Instead of ignoring the credit card bills and loan repayment notices to remain happy, make a note of how you have swerved off track and plan how you’re going to solve this for the long term. Though it may cause frustration initially, it is assured to provide a long term solution.

4. Follow a role model

It’s common for most of us to follow role models, and we have been doing so ever since we were kids. So no wonder, we search for role models for better financial management, and in reality, there is nothing wrong in it. The problem is only with the role models we pick. For instance, someone working at a grocery store would be doing a gross mistake if he chose someone financially stable but completely incomparable with his life, say Warren Buffet. The key to selecting role models is choosing a person who you can compare with on a number of levels such as career wise, family wise, talent wise, etc.

5. Worst-case scenarios don’t actually make your perform better

The common myth concocted by internet advisors is — imagining worst case financial scenarios will make a person much more effective. But the truth is, when you keep thinking about all the ways in which you can fail, it not just affects current performance but can actually make things worse as well. Instead the smarter thing to do would be to think of the prospect you will get by putting in some extra effort on your current performance. But of course that doesn’t mean you should never think about negative scenarios in life, it just helps when you don’t do it all the time.

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Beauty Week is back at Hudson’s Bay in Toronto and it’s time to get glam



Beauty enthusiasts rejoice! Beauty Week at Hudson’s Bay is back in Toronto for another year. It’s time to stock up on all of your fall essentials and, maybe discover some new ones. 

From Friday, August 18 to Sunday, August 27, you can expect a truly elevated beauty experience in-store with incredible special offers, limited-time gifts, and exciting activations. 

If you’re a diehard beauty lover, you’ll already know that Hudson’s Bay is the place to shop thanks to its extensive range of over 195 skin and makeup brands from both luxury labels and masstige brands — including Tata Harper, Estée Lauder, YSL, Nars Cosmetics, Bobbi Brown, and so much more.

Throughout The Bay’s Beauty Week, visitors can take in some at-counter activations and interactive expert-led tutorials, where there will be chances to get makeup touch-ups from top-tier brands, try a spritz of the most alluring fragrances, and sample tons of new products.

This year’s Beauty Week highlight is the ‘Best in Beauty’ tote, a meticulously-curated selection of 30 deluxe samples from an array of top-tier brands like Dr. Barbara Sturm and Shiseido spanning skincare, fragrance, and makeup — all in a super sleek bag.

The tote, which is valued at over $300, is retailing for just $39 and is a fantastic way to explore new products (without breaking the bank). However, there is a limited quantity, so if you want to get your hands on one, you’ll need to be fast.

Wondering exactly what Beauty Week’s free gifts with purchases entail? If you spend over $95 at Lancôme, you will receive a six-piece set valued at $130. Or, you can get an Estée Lauder gift valued at $170 with purchases over $80. (And that’s just to name a few.)

If you’re a Hudson’s Bay Rewards member, you’ll also get $20 in Hudson’s Bay rewards when you spend over $100 on beauty.

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The Canadian Armed Forces are hiring for several non-combat military jobs



The Canadian Armed Forces (CAF) have several non-combat jobs, some of which do not require a college degree or past work experience.

Life in the forces has several benefits, such as paid education plans (college, university and graduate-level programs), 20 paid vacation days, health and dental coverage for you and your family, maternity and paternal leave, and pension plans. You can learn more about the benefits in detail here.

And to make it easier to gauge if you qualify, the listings also include related civilian jobs to see if it’s your ideal role.

Financial services administrator

Related civilian jobs: Financial records entry clerk, financial manager, accounting technician, bookkeeper, budget officer, cashier clerk, business planner technician, and verification manager.

Description: You’ll help budget resources for all military activities besides providing financial assistance.

Education: You need to have completed Grade 10.

Duties: As a financial services administrator, you’ll be responsible for bookkeeping and managing budgets. You’ll also provide support in accounts payable and accounts receivable.

Work environment: Those in this role work at CAF bases, on ships or overseas. You might also be expected to help special operation units, recruiting offices, schools, and medical organizations.

Postal clerk

Related civilian jobs: Mail clerk, mail sorter.

Description: You’ll provide postal services to members and their families at bases and establishments.

Education: Grade 10. No previous work experience or related career skills are required.

Duties: As the postal clerk, you’ll handle mail duties.

Work environment: Besides a postal office, you may work on a ship or a mobile postal van. You might be expected to serve with Royal Canadian Navy, the Army, and the Royal Canadian Air Force in Canada and abroad.

Dental technician

Related civilian jobs: Dental assistant, dental hygienist.

Description: You’ll be helping dental officers provide dental services to CAF members, their families, and dependents.

Education: Level II dental assisting diploma from an accredited college or a National Dental Assisting Examining Board (NDAEB) certificate.

Duties: Those in this role will be responsible for various responsibilities, including disinfection and sterilization of dental equipment, applying rubber dams, placing cavity liners, and controlling bleeding. In addition, you’ll assist in laboratory procedures like creating casts, custom trays, and mouthguards.

Work environment: This role will require you to work in a military dental clinic, a Mobile Dental Clinic, an Air Transportable Dental System, or onboard a ship. You might be expected to work on a base in Canada or other operations in other parts of the world.

Human resources administrator

Related civilian jobs: Records administrator, data entry supervisor, receptionist, office manager, executive assistant, payroll clerk, and information management technician.

Description: Provide administrative and general human resources support.

Education: Grade 10. No previous work experience or related career skills are required.

Duties: In addition to human resources administration and services, you’ll be handling pay and allowances, managing automated pay systems, and maintaining personnel records.

Work environment: HR administrators work at all CAF bases in Canada. They also work on ships and overseas to support the Canadian Army, Royal Canadian Navy, or Royal Canadian Air Force operations.

Medical assistant

Related civilian jobs: Emergency medical responder, ambulance and first aid attendant, registered nursing assistant, licensed practical nurse, and hospital orderly.

Description: Successful candidates will help treat the sick and injured in CAF units. You’ll be assisting and supporting nursing and medical officers.

Education: Minimum of Grade 11 biology, Grade 10 physics or chemistry, and Grade 10 math.

Duties: You’ll provide initial care and essential life support treatments in trauma cases. You’ll help with health assessments (hearing and vision tests, perform basic lab procedures, etc.) and initiate and manage medical records and reports. You’ll also be expected to provide support and first aid during training exercises.

Work environment: Medical assistants may serve with the Royal Canadian Navy, the Royal Canadian Air Force or the Canadian Army as part of the Canadian Forces Health Services Group. Those in this role are exposed to the same risks as the forces they support.

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Porter’s new loyalty program promises to match Air Canada’s Aeroplan status



Porter Airlines is once again stirring the pot among Canadian airline rivals, now going after Air Canada’s Aeroplan members by offering to match their loyalty status to an equivalent of their own.

The beloved airline, which recently ranked as having the best cabin service in North America, challenged the competition for the second time this year, after previously deploying a similar tactic against WestJet in the spring. 

Earlier in April, Porter presented customers with a limited-time offer to match the loyalty status of WestJet’s patrons with VIPorter levels.

Now, they’re offering Aeroplan members to seamlessly transition to an equivalent VIPorter Avid Traveller status based on their existing membership tier.

Members can then take advantage of an array of travel perks that come with flying Porter, including seat selection, baggage, and flight changes.

For those currently holding an Aeroplan membership, there are two ways to acquire the Avid Traveller status for the rest of 2023:

Status-Based Match:
  • Aeroplan 25K members = VIPorter Venture
  • Aeroplan 35K members = VIPorter Ascent
  • Aeroplan 50K, 75K, and Super Elite = VIPorter First
Flight Segments-Based Match:
  • 5 flight segments = VIPorter Passport
  • 8 segments = VIPorter Venture
  • 17 segments = VIPorter Ascent
  • 28 or more segments = VIPorter First

Members will have to first submit their applications on Porter’s website. Registration will remain open until September 6, 2023.

In order to maintain their membership level through 2024, customers will have until the end of 2023 to reach the following reduced qualifying spend (QS) targets:

  • Passport = $500 in QS
  • Venture = $750 in QS
  • Ascent = $1500 in QS
  • First = $2500 in QS

Over the past year, Porter has launched an aggressive expansion strategy, including everything from introducing longer flights on newly-purchased jet planes flying out of Toronto Pearson, free WiFi, and a new all-inclusive economy experience.

With Canadians losing both Swoop and Sunwing as WestJet incorporates both into their mainline business, Porter’s direct competition is welcome to keep prices competitive.

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