Comments on: Could too many financial products be ruining your finances? Part 1

By: Financial Literacy Update #1 | Balance Junkie

Financial Literacy Update #1 | Balance Junkie — Sun, 14 Mar 2010 13:48:52 +0000

[...] My Wallet did an excellent 2 part series in which he asked Could Too Many Financial Products Be Ruining Your Finances? This gets at the issue of the variety and complexity of financial products that are available today [...]

By: QuickTax, UFile Giveaway Winners & Links | Million Dollar Journey

QuickTax, UFile Giveaway Winners & Links | Million Dollar Journey — Sat, 13 Mar 2010 18:46:35 +0000

[...] Could too many financial products be ruining your finances? Part 1 @ Thicken My Wallet [...]

By: Today’s economy media pack – 2010.03.12 | Today's economy blog

Today’s economy media pack – 2010.03.12 | Today's economy blog — Fri, 12 Mar 2010 16:09:01 +0000

[...] to a multiple part financial planning series called How to Make a Budget (the unboring way).” Thicken My Wallet. Could too many financial products be ruining your finances? Part 1. “When I first took up [...]

By: admin

admin — Tue, 09 Mar 2010 21:19:20 +0000

2 Cents- I did not know the task force was focusing in on this issue. I agree with you- not sure what you can do about this issue at all. If an issuer wants to issue 100 products, in a free country, how can you stop them?

By: 2 Cents @ Balance Junkie

2 Cents @ Balance Junkie — Tue, 09 Mar 2010 19:22:18 +0000

This is something that the Financial Literacy Task Force is taking a look at. I’m not sure what can be done about it other than educating people to the fact that this many choices really isn’t all that necessary and it may even backfire. I do find that the more I study all of this stuff, the less I want to commit to any product. It seems like there are risks in all of them one way or another. It’s easy to get dizzy with information overload and just give up. I hope that’s not one of the reasons Canadians aren’t saving enough for retirement.

By: Canadian Capitalist

Canadian Capitalist — Tue, 09 Mar 2010 18:09:35 +0000

This is a great point. Look at how many Canadian equity mutual funds are available from just about any vendor. And on TV, you’ll hear analysts recommending Russia, natural Gas, BCE or whatever all in the same 1/2 hour episode. It’s enough to overwhelm even those of us who follow many of these products.