Money Talks, but Do You Listen? Simple Answers for Smart Decisions (Part 2)

In a world where finances shape much of our lives, it’s important to educate ourselves about money—from understanding credit to avoiding scams. Noha takes a deeper dive into some essential questions and answers to help you make informed choices in this Money Talks series.

Why Should You Consider Long-Term Investing?

What it is:
Long-term investing involves putting your money into stocks, bonds, or other assets with the goal of growing wealth over time. The idea is to allow your investments to compound and build returns for years, rather than looking for quick wins.

Why it matters:
By investing early and thinking long-term, you can take advantage of compounding interest and grow your savings. Plus, it provides financial security for the future—whether for retirement, buying a home, or unexpected expenses.

Why Should You Have an Emergency Fund?

What it is:
An emergency fund is money set aside for unexpected expenses, like medical bills, car repairs, or losing your job.

Why it matters:
Having an emergency fund means you don’t have to rely on credit cards or loans when life throws a curveball. It provides peace of mind and financial stability.

What is Compound Interest and Why is It Important?

What it is:
Compound interest is the interest on a loan or investment that’s calculated on both the initial principal and the accumulated interest from previous periods.

Why it matters:
The more you invest and the earlier you start, the more you can benefit from compound interest, which can significantly grow your wealth over time.

PRO TIP: Start simple and stay consistent!

About the Author: Noha Fazili’s personal journey, shaped by growing up in a conflict zone, has fueled her deep passion for promoting financial literacy, particularly among women. She is driven by her belief that education is the foundation for personal and collective empowerment. Noha earned her MBA at Smith School of Business at Queen’s University in Ontatio and works in Wealth Management at Royal Bank of Canada