How families can play the higher loonie
Cross-border deals abound but beware of the pitfalls, says our personal finance blogger Chaya Cooperberg
The Globe and Mail, Chaya Cooperberg
In August, when the Canadian dollar was trading at around 93 cents (U.S.), I wrote in this blog about the lure of shopping on American retailers’ websites. There was an instant backlash. Many readers were upset to see cross-border shopping promoted at the expense of Canadian retailers.
But, I must confess, the loonie’s flirtation with parity has me thinking once again about how families can get the most for their hard-earned wages. After all, maybe now a family can afford to book that Disney vacation or put a down payment on that Sunbelt retirement property.
“It’s like having more discretionary income,” says Cynthia Kett, a chartered accountant and certified financial planner with advice-only firm Stewart & Kett Financial Advisors Inc.