Scotiabank Senior Economist Farah Omran is back this episode to give us her take on the state of the Canadian housing market. She'll break down the latest numbers, explain the high stakes and “suspense” she’s seeing, tell us what might play out in the next six months and much more. 

Key moments this episode: 

1:10 – Farah catches us up on the market since her last podcast appearance in the fall 

2:41 – What Farah means when she says “stakes are high”  

3:42 – The mystery behind why we’re seeing a relatively slow spring real estate season 

5:38 – Are there any markets that are especially hot in Canada? 

6:45 – Are people waiting for rate cuts before entering the market? 

8:12 – How the housing market impacts the interest rate outlook and vice-versa  

10:02 – An update on housing shortages and what governments (including the recent federal budget) are doing 

15:18 – Digging into the psychology around the housing market 

17:03 – Farah breaks out her non-existent crystal ball: what might the next six months look like?

This episode is a handy primer for anyone looking to get started in investing, or even those looking to refresh their knowledge. Our guest Craig Maddock, Vice President and Senior Portfolio Manager with Scotia Global Asset Management, breaks it all down in plain language. Everything from GICs, to stocks and bonds, to ETFs and mutual funds. It even addresses some common misconceptions and provides some questions to ask yourself before you visit an advisor. 

Key moments this episode: 

1:30 – What is the difference between investing and saving? 

2:49 – Why are people intimidated by investing when they first start out?   

5:17 – The most common misconception people have about investing (and how to avoid it) 

6:47 – What should someone ask themselves before they see an advisor?  

9:56 – How does time horizon factor into investing? 

11:17 – What is a GIC? 

13:44 – What are stocks and bonds? 

20:56 – How is investing more than just ‘gambling’? 

23:18 – What are mutual funds? How are they different from ETFs? 

30:09 – How is investing like fixing your car? 

32:16 – Some final advice for someone who is just getting started investing 

Talking about money with loved ones can be difficult. So in order to make those tricky conversations a little easier, a new project has broken down how we relate to money into six different Money Styles. Think love languages, but for finances. Tanya Eisener, the Senior Vice President of Retail Customer Value at Scotiabank, and Adam Palanica, the Senior Manager of Global HR insights and People Analytics at Scotiabank, are our guests this episode. They tell us how this tool works, why it’s needed and how you can use it to get a better handle on the emotions around money. 

To take the quiz and find your Money Style, check out the Money Style by Scotia Advice+ page. 

Key moments this episode:  

1:47 — So what is a Money Style?   

2:14 — How did behavioural science inform the creation of Money Style? 

2:53 — Why is money so difficult to talk about? 

4:29 — Getting to the root of the feelings around money 

5:13 — How does the Money Style quiz help make money conversations easier? 

6:23 — Why taking the stress out of financial conversations is especially important now 

7:17 — Some fascinating numbers around money and relationships 

7:46 — Breaking down the six Money Styles 

10:11 — How to interpret the quiz results 

11:24 — What to do once you’ve figured out your Money Style 

12:07 — How long does the quiz take? 

12:37 — One final behavioural science tip to help your relationship with money 

12:46 — Tanya’s takeaways around what she’s learned about our sometimes thorny relationship with money 

Getting into the housing market these days can be daunting. So, this episode we’re answering all the questions you may have had about mortgages and real estate but were too afraid to ask. Our guest is Tracy Gomes, Senior Vice President of Real Estate Secured Lending at Scotiabank. Tracy will define some key terms, give us a primer on how to pick between a fixed and variable interest rate mortgage, how much you might expect to pay for a down payment and more. 

Key moments this episode: 

1:32 — What’s the big question or concern that Tracy hears the most from people looking to get into the market? 

2:30 — What’s the first thing someone should be thinking about if they’re looking to buy a home for the first time? 

4:12 — What do you need to qualify for a mortgage? 

4:33 — The 4 Cs lenders are always looking at when processing a mortgage application 

5:27 — What is the minimum down payment needed in Canada? 

6:07 — Does the size of a down payment have an impact on the interest rate of a mortgage? 

6:36 — Breaking down the different types of insurance when it comes to mortgages 

8:34 — The role of ‘the bank of mom and dad’  

9:18 — Is it possible to buy a home without a down payment? 

9:25 — Options available for first-time buyers to save for a down payment 

10:07 — What is a stress test? 

11:35 — What other costs are associated with buying a house? 

13:07 — How do real estate agents get paid? 

13:46 — If you’re already in the market, should you sell before you buy or buy before you sell?  

15:20 — Mortgages 101 

17:10 — The most common mortgage question: what is the difference between fixed and variable rate mortgages? 

19:45 — Some quick mortgage definitions: term and amortization 

21:39 — How Scotiabank’s adjustable-rate mortgage works 

22:37 — Recap of variable vs fixed rate 

25:03 — Some tips on paying off a mortgage faster 

27:40 — What’s the final thing Tracy thinks people should know about buying a home

The Liberal government has laid out its 2024 Federal Budget, with new spending focused on issues such as housing, defence, and childcare, with new tax measures to help offset the cost.  

Rebekah Young, Scotiabank Economist and Head of Inclusion and Resilience Economics, joins us to break down the key takeaways Canadians need to know about the federal government’s spending plan, what is missing from the budget, and the impact it is likely to have on the broader economy and inflation. 

Read Rebekah’s full report: Canada’s 2024 Federal Budget. 

Key moments this episode: 

1:21 — A look at overall spending and key items 

3:19 — Key buckets of spending important for Canadians 

5:41 — Tax measures and other ways the federal government plans to pay for this new spending 

8:23 — A primer on capital gains 

10:24 — What impact these tax measures will have on productivity 

11:56 — What's the economic impact of this budget, near term and long term? What does it mean for housing and inflation in Canada? 

15:37 — The main thing Rebekah is taking away

The Bank of Canada held its benchmark interest rate steady at 5% for the sixth consecutive time, as expected. Even though inflation and other indicators are heading in the right direction, Governor Tiff Macklem said the central bank needed to see this pattern for longer to be assured it is “not just a temporary dip.”  

Scotiabank’s Chief Economist Jean-François Perrault is back to discuss the Bank of Canada’s latest decision, why he believes a rate cut in September is more likely than in June, and his thoughts on next week’s federal budget and the impact it could have on inflation.   

For an up-to-date breakdown of the Bank of Canada's key interest rate and its change over time alongside inflation numbers, visit our interest rate page. 

1:06 — What can we take away from the Bank of Canada’s latest decision? 

2:26 — The big question: When will rates finally come down? 

4:00 — So, could we see a rate cut this summer? 

4:50 — What would we need to see in terms of indicators for a June or July rate cut decision? 

6:33 — What is happening in Canada’s housing market and what does it mean for inflation? 

8:20 — Where do we stand on geopolitical risks when it comes to inflation? 

9:15 — What about a weak loonie compared to the U.S. dollar? Is that a factor that could impact inflation? 

10:45 — How do higher-than-expected U.S. inflation numbers complicate things when it comes to rate cuts? 

12:23 — What risk does Canada’s low productivity pose? 

13:31 — The Bank of Canada made a slight increase to its nominal neutral interest rate. What is that and why is that important? 

16:27 — Is there anything else we can learn from the latest Bank of Canada Monetary Policy Report? 

17:28 — What can we expect from the Federal Budget next week and how might that impact inflation and the Bank of Canada’s future decisions? 

19:52 — The top three takeaways for Canadians from the latest Bank of Canada decision 1:06 — What can we take away from the Bank of Canada’s latest decision? 

2:26 — The big question: When will rates finally come down? 

4:00 — So, could we see a rate cut this summer? 

4:50 — What would we need to see in terms of indicators for a June or July rate cut decision? 

6:33 — What is happening in Canada’s housing market and what does it mean for inflation? 

8:20 — Where do we stand on geopolitical risks when it comes to inflation? 

9:15 — What about a weak loonie compared to the U.S. dollar? Is that a factor that could impact inflation? 

10:45 — How do higher-than-expected U.S. inflation numbers complicate things when it comes to rate cuts? 

12:23 — What risk does Canada’s low productivity pose? 

13:31 — The Bank of Canada made a slight increase to its nominal neutral interest rate. What is that and why is that important? 

16:27 — Is there anything else we can learn from the latest Bank of Canada Monetary Policy Report? 

17:28 — What can we expect from the Federal Budget next week and how might that impact inflation and the Bank of Canada’s future decisions? 

19:52 — The top three takeaways for Canadians from the latest Bank of Canada decision 

In this episode, co-founder and CEO of Willful Erin Bury joins us to give us a Wills 101 lesson. She’ll cover everything from what exactly a will is to when you should get one, some key definitions and much more.

An earlier version of this episode said 57% of Canadians don't have a will, and that rises to 75% for younger Canadians. In fact, the poll showed that 43% of Canadians don't have a will, rising to 66% for younger people.

Key moments this episode: 

1:16 — Before we start, we have to ask Erin: what was it like being on Dragon’s Den? 

2:50 — What is a will? 

3:56 — The most common misconception about wills 

5:46 — The personal experience that triggered Erin and her husband to start Willful 

8:14 — Why the will is the ‘tip of the iceberg’ when it comes to estate planning 

9:03 — When should people start thinking about getting a will? 

10:43 — What is an estate? 

11:57 — A little more about what inspired Willful 

13:22 — What makes a will a legal will? 

14:48 — What situations are out of the scope of Willful? 

16:51 — What is a power of attorney? 

19:06 — What is an executor? And what should you be thinking about when you choose one 

22:01 — Why Willful is partnering up with Scotiabank 

24:50 — The unexpected brand Erin has cultivated within her circle of friends 

Loud budgeting is just one of many money trends you may have seen in your social media feed lately. This episode we get a level-headed take on some of these fads with the help of Kingsley Chak, Senior Vice President of Deposits, Savings and Investments at Scotiabank. He’ll let us know which ones might work, which ones might not and why, as well as give some evergreen tips on getting a handle on your own finances.   

Key moments this episode: 

1:21 — How are Canadians feeling about their money right now? Discussing the results from Scotiabank’s Worry Poll 

5:45 — Budgeting trend 1: loud budgeting 

6:54 — How does bungee jumping help explain loud budgeting? 

8:15 — Is loud budgeting a good thing? 

8:49 — What is quiet luxury and how does it relate to loud budgeting? 

9:50 — Budgeting trend 2: soft saving 

11:38 — Budgeting trend 3: FIRE — financial independence, retire early 

15:07 — Two tips to take away from the conversation 

This week we’re re-airing an episode that originally came out in June, but the topic is more relevant than ever.

The interview you’ll hear is part of our Leadership Series, where we hand the mic to leaders at Scotiabank to interview experts on an issue that resonates with them. You'll hear a conversation hosted by Grace Lee, Scotiabank’s Senior Vice President, Chief Data and Analytics Officer, with Anton Ovchinnikov, Distinguished Professor at the Smith School of Business at Queen’s University and a Scotiabank Scholar of Customer Analytics. They discuss what exactly data ethics means, why financial services are well positioned to take a leadership role in this emerging field and much more. 

Read Anton’s research study on AI and gender bias here.

Other episodes of the Leadership Series: 

The power of allyship in the workplace 

Challenging the narrative around women and farming

Key moments this episode:

1:59 — What exactly is data ethics? 

3:41 — How does the study of data ethics relate to traditional ideas of ethics?

6:30 — Technology is evolving faster than our norms and ethics can keep up it seems, how can we feel comfortable around things like AI?

9:04 — How should can people play a positive role in implementing data ethically as more and more people have access

11:50 — How is ethics around data evolving? 

13:47 — How can people concerned about AI ensure it’s doing more good than harm

15:53 — Why AI’s use ultimately is a business decision

16:52 — What Grace sees as the hardest part about implementing AI in a business

18:58 — Why increased awareness of AI has been helpful

20:03 — What Grace has learned from risk management that she applies to her approach to implementing AI

With life expectancy on the rise, people’s retirement years could soon be longer than their working years. So, how will that affect how you save? Our guest this episode is the Chief Investment Officer of Global Wealth Management at Scotiabank, Andy Nasr. He’ll tell us what those years might look like, give us some tips for saving at any age, and explain why living longer may change the conventional thinking around how we invest for retirement. 

Key moments this episode: 

0:05 — What does a 10-year-old used car teach us about the secret to saving for retirement?  

2:00 — Some numbers and context around how much longer people are living these days?  

4:15 — What effect longevity might have on public policy 

5:27 — An eye-opening stat about how long the next generation could live for 

6:24 — When should people start thinking about saving for retirement?  

9:19 — Saving money can be challenging.What advice does Andy give to his clients? 

10:32 — What exactly does a financial plan consist of? 

15:15 — Why some people might think they have a financial plan, but actually might not 

16:46 — A financial plan isn’t just about the money 

17:05 — Does this issue of longevity change the traditional 60/40 approach to retirement saving? 

20:00 — The issue that Andy worries about all the time when it comes to retirement 

21:46 — What is Andy’s secret to saving for retirement?