by Savings Mix

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In this Personal Finance Digest article: "What Investing Rules Could We Learn from Warren Buffett and How Worried Are Canadians About Their Rising Mortgage Payments?” we briefly cover topics on investing and a look at how Canadians respond to the impact of high mortgage interest rates.

If you have been following Warren Buffett’s approach to investing, you must be familiar with this basic rule.

But if you are beginning to learn about stock market investing, read on.

A glimpse at our featured article on Personal Finance Digest about the baseball star A-Rod (also known as Alex Rodriguez) is worth considering.

Back in the year 2000, A-Rod signed a $252 million 10-year contract. He recalls Warren Buffett’s advice about investing.

In a Bloomberg TV interview, A-Rod mentioned Buffett’s idea about buying “a great business at a fair price,” as opposed to buying “a fair business at a great price.”

Warren Buffett is an icon in the stock investing world. He has become very successful with his investments and with his company, the Berkshire Hathaway.

A-Rod still recalls Buffett’s investing principle: Rule No.1 “Never lose money.” Rule No. 2 “Don’t forget rule number one.”

(Source: Yahoo Finance)

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In this news story, we take a look at the impact of the rising mortgage payments on Canadians.

The Bank of Canada has increased its ‘benchmark’ rate, not just once or twice, but eight times, in the last months. That is from the rate of 0.25 to 4.5 per cent.

How are Canadians responding to such economic decisions?

In Angus Reid’s March 2023 survey, some 16,000 Canadians participated.

The survey indicates that homeowners are concerned about the impact of high mortgage interest rate on their mortgage renewal.

The survey further reveals that 56 per cent of the respondents, with 25-year amortization or longer, are indeed worried. They are concerned about the rising monthly costs that could come with their mortgage come the renewal time.

The people who are not prepared to handle such ‘market fluctuations’ are those who would be affected the most. And often, young people face such financial challenges.