The last time you borrowed money, there’s a good chance you were also offered insurance on that loan. Something that will pay off the debt or keep up with payments if anything happens to you. And you might have thought, “But, I already have insurance from my job or my partner’s job.” Well, it’s likely not sufficient, according to our guest this episode. Wayne Hewitt is the Senior Vice President of Insurance Canada at Scotiabank. And he’s here to shed some light on creditor insurance, an often-overlooked type of coverage that can provide a crucial safety net.     Key moments this episode: 1:27 – What exactly is creditor insurance?  4:00 – Why creditor insurance is important even if you’re not the main income earner in your family 5:40 – What are the options when it comes to coverage? 6:35 – What is the difference between term insurance and creditor insurance? 10:03 – What Wayne has to say to someone who thinks it’s just an unnecessary extra expense 11:17 – How does where you are in life affect considering creditor insurance? 12:34 – Why insurance coverage through your job (or a spouse’s job) may not be sufficient 14:00 – What does it mean to be ‘underinsured’ and how do you know? 15:35 – Key tips when getting creditor insurance 17:22 – What revolving and non-revolving line of credit and how does that play into creditor insurance? 18:35 – Addressing two big misconceptions about insurance 19:44 – The main takeaway from this interview  For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures 

Jean-François Perrault, Chief Economist at Scotiabank, shares insights on the recent 25-basis-point cut in Canada's interest rate, the third consecutive reduction. He discusses its positive implications for borrowers, inflation trends, and the housing market. Perrault also explores the expected decisions for 2024-2025 and their potential impacts, including rising unemployment due to an expanding labor force. Additionally, he touches on trade tensions with China and how they may influence the economy amidst changing interest rates.

Scotiabank's Chief Economist discusses the recent interest rate cut by the Bank of Canada, emphasizing factors like housing market impact, risks to inflation, and potential recession. Insights on divergence between U.S. and Canadian central banks and key takeaways for Canadians.

This episode we have a very special guest: award-winning author Michelle Good. Michelle is a writer of Cree ancestry and a member of the Red Pheasant Cree Nation in Saskatchewan. Her books include Five Little Indians and Truth Telling. Her writing takes an unflinching look at our nation’s past and how it still affects the present. So, she’s here today to give us a bit of a history lesson ahead of Canada Day. You’ll hear a conversation between Michelle and Myan Marcen-Gaudaur, Scotiabank’s Director of Social Impact and Reconciliation. They talk about the motivation behind Michelle’s writing, the state of reconciliation in Canada, the concept of “radical hope” and more.  This episode contains accounts of violence and mention of suicide.  Key moments this episode: 3:00 – Why Canada’s colonial history is still very much part of the present 4:00 – Michelle gives some insight into a very personal chapter of her latest book, Truth Telling 6:21 – What the relationship between Michelle’s mother and her grandmother can tell us about how challenging it can be being Indigenous in a non-Indigenous world 8:10 – How colonial perceptions can be passed down to subsequent generations 9:10 – The meaning behind the chapter titled $13.69 and what it says about restoration for the past 12:00 – Michelle defines her concept of “radical hope”  13:20 – How the crisis around missing and murdered Indigenous women, girls and Two-Spirit peoples is rooted in history 17:31 – The decimation of the buffalo and the impact that had on Indigenous communities 21:35 – Why is the truth part of “truth and reconciliation” so important?  25:03 – How can Canadians move from knowledge to action when it comes to reconciliation?  27:54 – Michelle reflects on the changes she has seen in thoughts and attitudes among non-Indigenous people in her lifetime 

Scotiabank’s Chief Economist Jean-François Perrault discusses the Bank of Canada's interest rate cut, its impact on the housing market and the economy, and future rate expectations. Key topics include reasons for the cut, inflation targets, effects on Canadians, future rate adjustments, and indicators for future cuts.

People are living longer, but the cost of caregiving is something many Canadians don’t plan for. Our guest this episode is Dr. Zahinoor Ismail. He’s a dementia expert and Clinician Scientist at the Hotchkiss Brain Institute at the University of Calgary. He’ll tell us all about the often overlooked emotional and financial impacts of caring for those with dementia as well as the research he’s doing with the help of charity Gordie Howe CARES. For more information on the University of Calgary CAN-PROTECT caregiver study and for caregiver resources visit Gordie Howe CARES. Key moments this episode: 1:27 – What exactly is dementia and how it is different from Alzheimer's? 3:23 – What is meant by the term “caregiver”? How has the definition evolved? 5:46 – Three major factors that can contribute to the burden on a family/friend caregiver 10:19 – The financial and emotional cost of caring for a loved one 11:20 – How Gordie Howe CARES is helping caregivers 14:20 – An example of the financial burdens of caregiving 15:14 – What about the taboo around having a loved one with cognitive decline? How does that affect caregivers? 15:56 – The two things Dr. Ismail finds rewarding about this work 17:33 – How can caregiving be made a positive experience?  

Divya Goyal from Scotiabank discusses the impact of generative AI in Canada. Topics include AI adoption in businesses, sectors ripe for disruption, job implications, Canada's role in AI development, and future AI trends like reinforcement learning.

Scotiabank Senior Economist Farah Omran is back this episode to give us her take on the state of the Canadian housing market. She'll break down the latest numbers, explain the high stakes and “suspense” she’s seeing, tell us what might play out in the next six months and much more.  Key moments this episode: 1:10 – Farah catches us up on the market since her last podcast appearance in the fall 2:41 – What Farah means when she says “stakes are high”  3:42 – The mystery behind why we’re seeing a relatively slow spring real estate season 5:38 – Are there any markets that are especially hot in Canada? 6:45 – Are people waiting for rate cuts before entering the market? 8:12 – How the housing market impacts the interest rate outlook and vice-versa  10:02 – An update on housing shortages and what governments (including the recent federal budget) are doing 15:18 – Digging into the psychology around the housing market 17:03 – Farah breaks out her non-existent crystal ball: what might the next six months look like?

Craig Maddock, VP of Scotia Global Asset Management, explains key investing concepts in plain language. Topics include GICs, stocks, bonds, ETFs, and mutual funds. He discusses common misconceptions, the importance of time horizon, and questions to ask before seeing an advisor. Maddock also offers advice for beginners starting their investing journey.

Talking about money with loved ones can be difficult. So in order to make those tricky conversations a little easier, a new project has broken down how we relate to money into six different Money Styles. Think love languages, but for finances. Tanya Eisener, the Senior Vice President of Retail Customer Value at Scotiabank, and Adam Palanica, the Senior Manager of Global HR insights and People Analytics at Scotiabank, are our guests this episode. They tell us how this tool works, why it’s needed and how you can use it to get a better handle on the emotions around money. To take the quiz and find your Money Style, check out the Money Style by Scotia Advice+ page.  Key moments this episode:  1:47 — So what is a Money Style?   2:14 — How did behavioural science inform the creation of Money Style? 2:53 — Why is money so difficult to talk about? 4:29 — Getting to the root of the feelings around money 5:13 — How does the Money Style quiz help make money conversations easier? 6:23 — Why taking the stress out of financial conversations is especially important now 7:17 — Some fascinating numbers around money and relationships 7:46 — Breaking down the six Money Styles 10:11 — How to interpret the quiz results 11:24 — What to do once you’ve figured out your Money Style 12:07 — How long does the quiz take? 12:37 — One final behavioural science tip to help your relationship with money 12:46 — Tanya’s takeaways around what she’s learned about our sometimes thorny relationship with money