Share this page!

Toronto Star Profile picture
Twitter logo
Feb 28 • 6 tweets • 3 min read
This new Canadian makes $35,000 as a hospital cleaner. He wants an emergency fund in case rent goes up. How can he start? #MillennialMoney
thestar.com/business/perso…
Luis, 39, makes $35,000 a year as a hospital cleaner. He moved from the Philippines five years ago and is renting a spot in Regent Park. He wants to build an emergency fund in case rents increase, but how can he start? Image
When Luis moved to Canada, he discovered the cost of living was higher here. It’s why he’s extremely frugal and lives “humbly,” trying to save money by eating all meals at home or preparing food for work. “I only buy things on sale,” Luis said.
thestar.com/business/perso…
So what are his goals? To build a sense of financial security. With his frugal attitude, Luis has saved around $10,000 and paid off all debts. “I want to continue to have a fund for emergencies,” he said.
thestar.com/business/perso…
He should open a TFSA account for his saving and investing. He could keep some of the funds in a savings account or similar low-risk investment, and allocate some to higher risk but higher return options like stocks, said expert Jason Heath.
thestar.com/business/perso… Image
Luis may not be able to buy real estate in Toronto anytime soon but, if he saves diligently and invests prudently, he can still be a wealthy renter, Heath said.
thestar.com/business/perso…

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Toronto Star

Toronto Star Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @TorontoStar

Toronto Star Profile picture
Feb 28
The Canadian government is sending lethal military supplies to Ukraine, including anti-tank weapons and rockets, cutting off any remaining Russian oil imports and taking steps to block Russian broadcasters from spreading disinformation in Canada. torstar.co/5oWb50I6nly
The shipment of weapons is the fourth time Canada has agreed to supply military aid, both lethal and non-lethal, to the Ukrainian effort to repel the invasion by Russian troops that began last week.
thestar.com/politics/feder…
Russian President Vladimir Putin “has made a grave miscalculation,” Prime Minister Justin Trudeau said at a news conference announcing the additional assistance, ahead of an evening parliamentary debate on Canada’s response to the international crisis.
thestar.com/politics/feder…
Read 6 tweets
Toronto Star Profile picture
Feb 28
Is buying a property feasible for younger Canadians?

To #MakeItMakeSense, the Star's @madiwongg speaks with money expert @jessi_moorhouse to explain how mortgages work and tips on how we can best prepare for them.
thestar.com/business/perso…
A recent report by Re/Max Canada found since 1996, residential unit sales have doubled and the average price has increased by 453 per cent.

With figures like these, it’s difficult to know where to start when planning or preparing to apply for a mortgage.
thestar.com/business/perso… A blue and purple gradient background. In the centre there i
Simply put, mortgages are a specific type of loan that you get from a lender in order to purchase a property, whether it be your primary residence or a second property you want to rent out, Moorhouse explains.
thestar.com/business/perso…
Read 7 tweets
Toronto Star Profile picture
Feb 28
How can you verify information coming out of Russia or Ukraine? Here’s an expert’s guide on how to identify fake news
thestar.com/news/gta/2022/…
Many times when a news source fails to have an “about us” page, there is a lack of clarity about how accurate the information is as it can’t be attributed to anyone.
thestar.com/news/gta/2022/…
Use Google’s reverse image search tool. “Sometimes an old, unrelated photo is used for articles in particular with the current war in Ukraine,” said Dvorkin senior fellow at Massey Collage at U of T.
thestar.com/news/gta/2022/…
Read 5 tweets
Toronto Star Profile picture
Feb 28
#Opinion: In 2022, it will have been 30 years since Lollapalooza held its first all-day carnival of rock-and-rap oddities at Molson Park in Barrie. It was music paradise on Earth to Torontonians thestar.com/entertainment/…
Barrie was an appropriately out-of-the-way locale that weirded out non-Gen Xers despite the mainstream momentum that alternative was gaining from bands such as Pearl Jam, Soundgarden and Red Hot Chili Peppers. thestar.com/entertainment/…
Lollapalooza opened the floodgates for a tidal wave of events and eccentrics on the shores of Kempenfelt Bay. thestar.com/entertainment/…
Read 5 tweets
Toronto Star Profile picture
Feb 28
While Ontario moves into its latest phase of reopening and considers eliminating mask mandates, many vulnerable people — the immunocompromised, those with disabilities, older adults and those caring for children under five — are feeling left behind. thestar.com/news/gta/2022/…
A 2020 Stats Canada survey found that 14% of Canadians had a compromised immune system, while an estimated 1 in 5 people have a disability. Nearly 5% of Ontario’s population is under five years old, and there are almost as many people over 80. thestar.com/news/gta/2022/…
Katie Babcock wishes she could be “done” with COVID and all the disruption it has caused her life, as Doug Ford said Ontarians are, but she knows that immunocompromised people like her can’t simply wish their risk away. thestar.com/news/gta/2022/…
Read 7 tweets
Toronto Star Profile picture
Feb 28
In a bid to establish a “foundational set of core rights” for gig workers, Ontario says it will introduce new legislation requiring app companies to pay at least minimum wage for time spent actively making deliveries or driving customers.
thestar.com/news/gta/2022/…
New gig worker legislation won't address employment status, which labour advocates see as the crux of the problem. Critics say app companies misclassify gig workers as independent contractors — excluding them from more rights as employees.
thestar.com/news/gta/2022/…
Proposed new reforms for gig workers, expected to be announced Monday, come on the heels of a recent internal labour ministry ruling that found an Uber Eats courier was an employee of the tech giant — not an independent contractor, as the company claimed.
thestar.com/news/gta/2022/…
Read 6 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @TorontoStar has new unrolls!

Check out other threads from @TorontoStar!

Read all threads by @TorontoStar

:(