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2 votes

Do High Interest Savings Account (HISA) have an associated risk?

I believe your friend is just being pedantic. (You could ask to be sure what they had in mind.) Regular savings accounts in Canada (both high and low interest) are CDIC insured. The probability of the ...
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4 votes

Do High Interest Savings Account (HISA) have an associated risk?

What is missing from the other answers is the underlying risk - an insurance is only as good as the insurer, here the Canadian Government. In other words, the risk of partial or total loss exists, in ...
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8 votes
Accepted

Do High Interest Savings Account (HISA) have an associated risk?

There is no fixed definition of "high interest savings account" so you'd need to view the disclosures. If you are opening an account at a bank and that account is insured by the government (...
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3 votes

Do High Interest Savings Account (HISA) have an associated risk?

Typically, in finance, "risk" means "variance of returns" - so an investment with high "risk" can gain or lose significant amounts of value in a time period. There are ...
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1 vote

Do High Interest Savings Account (HISA) have an associated risk?

If it's a true savings account, then it won't have any more risk than any other savings accounts. Not zero, but very low if your country has well-regulated banks. The higher interest accounts usually ...
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2 votes

Is it a good time or good idea to invest money that I will need to repay in a year time that is not currently accumulating interest?

Is it a good idea to invest money that I will need to repay ... ? Strictly speaking, the answer to that is always no. If you need to repay all of it, then you wouldn't invest it with risk of loss. As ...
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30 votes
Accepted

Is it a good time or good idea to invest money that I will need to repay in a year time that is not currently accumulating interest?

Is it a good time or good idea to invest money that I will need to repay in a year time that is not currently accumulating interest? No. It's (almost) never a good time to risk money you will need 1 ...
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8 votes

Is it a good time or good idea to invest money that I will need to repay in a year time that is not currently accumulating interest?

I've heard that the market isn't doing to well at the moment. Although I believe index stocks do well in the long term, is 1 year too short a time where its possible they lose money So far 2022 has ...
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1 vote

In a Budget is Saving Considered an Expense?

As "Grade 'Eh' Bacon" said: I would put it in as an expense. I have an account that my money goes into and whatever comes out is considered an expense for me. I like to think of it as a &...
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2 votes

In a Budget is Saving Considered an Expense?

Budgeting is just a miniature version of proper accounting, which uses a variety of reports to account for money movement. Suppose you earn $1000, spend $600, "save" $300 and keep $100 as ...
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13 votes
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In a Budget is Saving Considered an Expense?

I have a saving section but I am not sure if it is considered an expense? and how do you account for it at the bottom of the budget Budgeting approaches can vary. In my opinion, a zero-based budget ...
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2 votes

In a Budget is Saving Considered an Expense?

If you are new to budgeting, and especially if you have not been diligent about saving money every month in the past, I suggest you treat your monthly savings amount as a regular 'expense'. When used ...
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8 votes

In a Budget is Saving Considered an Expense?

It could (and maybe should) be considered an outflow but I would not call it an expense. It's just moving money from one pocket to another. You might be saving up for a particular expense (car, ...
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