Author Archives: Danielle Park

Impossible-to-repay loans are not legitimate financial services

Posted on May 16, 2019 by Danielle Park

As I explained in The indefensible predatory business of payday loans, criminal interest rate caps stood for many years in both Canada and the United States at 60%. The financial lobby had governments carve out workarounds in the last decade, … Continue reading →

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Straight Talk on Your Money

Posted on May 16, 2019 by Danielle Park

Yesterday I recorded a podcast with insolvency trustee Doug Hoyes, co-founder of one of Canada’s largest personal insolvency firms.  Last night I read his 2017 book Straight Talk on Your Money — the Biggest Financial Myths and Mistakes and How … Continue reading →

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Quantifying ‘wealthy’ and the capital value of income streams

Posted on May 14, 2019 by Danielle Park

A recent Charles Schwab study asked different age groups to estimate the net worth needed to feel ‘wealthy’ where they live.  Not surprisingly, the amount estimated was higher for those aged 50+ than those in their 20’s–older folks tend to … Continue reading →

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