How loans and interest affect you as a consumer and a taxpayer by

ethandrover — 2024-04-01 22:06:34 UTC

This slideshow will be showing you how loans and interest affects you as a consumer and a tax payer. It will show you this in three different ways such as websites, videos, and images.

Impact of higher interest rates

ethandrover — 2024-04-01 22:49:11 UTC

In this article you will be shown multiple different diagrams and charts as to how we are being affected by higher interest rates as well as what we are doing to have the interest rates go up like this. Also you will be shown what we different quotes about what people are saying about this which does help get a better understanding of this as you are being able to relate what you have to think about this topic to what other people are having to say. Having all this information and being able to dispute it multiple different ways is a huge key part because it helps you visually see our statistics.

The reason that i had chose this website is because me myself i like to see a lot of diagrams when i am reading something because it does help me understand it a lot more because i am a visually learner. One of my favorite things about this article is how it talks about one of the main reasons households stayed wealthy is from investing into different things such as stocks.

How interest rates are affected by inflation

ethandrover — 2024-04-01 23:00:28 UTC

This article is an amazing one due to the fact that everyone now a days is wondering why everything is so expensive and saying how the inflation on all these items are crazy. This article really breaks down why inflation is a thing and how it is being created in our lives now, as well as its talking to us about how the inflation of everything is making the interest rates increase as well and it is due to the fact the the firms have to order materials and supplies to but with the inflation they have to pay more for everything which means they need to make money somehow.

My favorite part about this article is that it answers a lot of people questions by using facts such as why companies have to make interest rates higher so that they can afford to stay in business as well as the companies polices.

Understand interest

ethandrover — 2024-04-02 00:28:49 UTC

This website does a very good job at communicating how the government of Canada charge interest as well as how many things the government charges interest on. This website is amazing because it makes us think about how many things were really getting charged interest on and it makes us think how many times we make these kinds of decisions knowing were getting charged interest. It also shows us how the Canadian government does take interest on items and how much interest they take. It also talks about how the CRA goes about it if someone were to be penalized for not paying interest.

This website is a very good article just for the simple fact and my favorite part, that it is coming straight from the Canadian Government, which makes it good because you know it is coming from the facts and not just someone stating their opinion.

Interest and Inflation in Canada

ethandrover — 2024-04-02 01:03:35 UTC

This is website does a good job explaining how to deal with high interest rates as well as why the interest rates are high due to inflation. This is a good article for Canadians considering that David Sklar and Associates is one of the most reliable and most popular firms. This page does a really good job describing how to deal with these things as well as it describes how to deal with the inflation rates and high interest rates and if it affects your credit card score and anything to do with banking, At the same time it gives you a reliable source of what to do and how you can deal with these things.

My favorite thing about this article is that, As much as it talks about how everything has gone up in price like inflation and interest rates it does a very good job trying to help us out in making good decisions in how to deal with these things and how to handle them.

Interest rates affecting homeowners

ethandrover — 2024-04-02 01:37:57 UTC

This video does a great job showing that everyone is being touched and affected by these circumstances such as inflation and interest rates, even when going to buy, rent, or even sell your house the interest rates have gone up since last year even though the house prices have dropped your still giving a lot of money due to interest rates and it is making it hard for some people to afford which is the reason for them selling their house. Just due to the fact that most if not all of the mortgages have gotten more expensive due to interest rates and making it harder to make a living decision.

The best thing about this video even though it is very short it gets the point across and makes sure that everyone is understanding what is going on around the country right now with everything going up in prices which is making it affect everyone's cost of living not just by groceries but by housing too.

How interest rates control inflation

ethandrover — 2024-04-02 01:49:57 UTC

This video does an amazing job describing how the banks decide the interest percentage at the certain bank and what makes the interest rate go up at certain banks and what makes it lower at other banks. It also does a good job with showing that this is not just Canadians having this problem it happens all around the world and shows how this effects the economy because when interest rates rise it makes it harder for people to afford as many things which means these companies are not making as much money which is the reasoning behind the increase of inflation.

The thing that really makes this video good is that it is not just showing the stats and how this works in Canada it shows that this affect has taken a tole on the whole world and our economy as a whole.

Why aren't interest rates dropping in Canada

ethandrover — 2024-04-02 02:07:16 UTC

This video talks very heavily about how the interest rates have so much to do with how many people can afford stuff because there is a lot of things that the country is trying to bring in that everyone can afford and the government is spending this money to bring in these products even though a lot of the economy can afford it, which makes the reason for inflation easy to explain because everyone can afford it but there isn't enough for everyone to purchase it. Which is how the bank of Canada tries to control this problem because they figure that buying increasing interest rates not a lot of people will be purchasing all these other things because they will have to save to afford important stuff like interest rates.

This video does an amazing job describing the behind the scenes of why everything goes up in prices and trying to control the rates of inflation on groceries and food, so the bank figures that if we put up interest rates we wont have to pay for all this stuff to be coming to the country as often.

Interest affecting your mortgages and monthly payments

ethandrover — 2024-04-02 03:12:25 UTC

This video does a good job breaking down how interest rates affect your life day to day and how the interest rates work especially on if you get a loan on your mortgage and how the monthly payments are distributed on every mortgage payment so that the amount that you are paying into that loan it makes the interest rate of that payment less and less every month to be able to pay off that loan. This video also talks about the difference between just normal interest and the principal interest rate.

My favourite thing about this video is that he goes over the differnece between a 3%, 4%, and 5% interest rate. i feel like it makes this video important due to the fact that he is really going into depth about the difference of all the rates.

Mortgage interest rate over the years

ethandrover — 2024-04-02 03:25:10 UTC

This image does a very good job describing the interest rate on houses over the years and makes us realize that the interest rate in 1980 was nearly 7 times worse than it is now, But then again inflation wasn't as high in those years.

Bank of Canada

ethandrover — 2024-04-02 03:31:19 UTC

This image is just of the Bank of Canada, but in my opinion it does a good job describing this topic due to the fact that the bank has full control over our interest rates on everything and the reason they are high right now is because the price for everything is high right now.

1. What did you learn about your topic that surprised you the most?

ethandrover — 2024-04-02 03:34:31 UTC

This topic really brought my attention to this issue, My opinion about this topic and something that surprised me the most is that the banks and government have everything to due with our interest rates as well as our economy and where we live and who we are as a person also decides those.

2. Provide a real-life example of how this topic is relevant or interesting for you.

ethandrover — 2024-04-02 03:36:12 UTC

This topic is relevant and interesting for me because, Its really opening my eyes about the future and making a lot of decisions of what i do in the future when looking to purchase a house or car or things that you have to pay interest on.

3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

ethandrover — 2024-04-02 03:38:05 UTC

I would really talk to my parents in case they ever plan on moving or deciding to get a new car i would really pass on to them that it is better to shop around and look for which places/firms can really give them the best interest rates so that we are able to not have to pay as much and save money as a family.