A Money Coach in Canada

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This is a guest post by Nathalie Lussier who blogs as The Billionaire Woman, where she shares her journey to living a richer and more fulfilling life.

I’m a Canadian who was born and raised in a small town near the Canadian and American border.

No kidding, my aunt was born in the United States because that was the closest hospital at the time. Of course, these days customs officers won’t let you cross over if you look like you’re about to give birth!

Because of this proximity to the United States, I’ve always had a particular experience with US/CAD exchange rates.

If the Canadian dollar was stronger, it meant that we could cross the border into the USA and shop with a strong dollar. We might vacation in the United States, or even cross over to have a meal at a US restaurant.

If the US dollar was stronger, it meant that we would see more American tourists in our small town and the surrounding towns. It would create tourism jobs and support local arts and crafts.

Looking At Exchange Rates From a Personal Viewpoint

Now with the Internet, anyone can order from an American online shop. So really, the US/CAD exchange affects us even more. We no longer need to live on the border to be affected by fluctuations in exchange rates.

As consumers, we prefer to have a strong Canadian dollar. It means our dollar goes further, and we can afford to buy more stuff in the US.

Looking at Exchange Rates From a Global Viewpoint

When we look at a strong Canadian dollar in terms of a global impact, we might notice that other countries are less likely to do business with us.

Canadian freelancers might be inversely affected by a strong Canadian dollar, since American companies might chose to hire freelancers in other countries instead.

Just like in the case of Canadian freelancers, the strong dollar is actually a weakness for the country’s industry.

Exploring all of the ramifications of a fluctuating Canadian dollar is beyond this post, but it’s something I wanted to highlight. I never saw these side effects because I was too close to the border.

Thinking Global and Acting Local

Like with most things these days, it is best to think globally and act locally. If you can support the local businesses during times when the Canadian dollar is strong, you can still benefit from using your strong dollar abroad.

So the next time we’re out celebrating our strong Canadian dollar, let’s just remember what kind of impact this might have on our country.

** Readers, Have you noticed the rush to spend in the US when the Canadian dollar is on-par with the US dollar?

This was a guest post by Nathalie Lussier, a raw vegan, wealth-conscious kind of billionaire woman. Kind of.

About the Author

Imagine if Canadians were known for being all over their money. Engaged. Proactive. Getting out of debt. Savvy. Saving. Generous. Nancy wants to help. Nancy started her own journey with money over 15 years ago, and formed her company “Your Money by Design” in 2004 to help others along the same path. It’s not the usual financial advising/investment stuff. It’s about taking control of day-to-day finances –managing monthly cashflow effectively, spending appropriately, getting out of debt, saving. If you're ready to take control over your finances, pop by her business site, YourMoneybyDesign.com


  1. I’ve come across this argument before. And of course our government is often talking about how a strong dollar is bad for the economy. But I never hear of the UK or US government complaining about their currency being too strong.

    so I wonder if the global problem is that Canadian business and industry is too dependent on exports. In addition to supporting the Canadian economy as consumers, as business people we should be looking for ways to maximize our local clients as a cushion against currency fluctuation. If we are dazzled by the possibilities of that huge market south of the border we are storing up trouble.

    JoVE’s last blog post..The politics of research funding


    Apr 03, 2009
  2. JoVE I think you’re right. We are too dependent on this export industry.

    I also think that to make Canadians buy Canadian, we need to have a better postal service standard. Either faster or cheaper, or both. I can ship from the US to Canada for cheaper than within Canada. Does that make sense?

    Nathalie Lussier’s last blog post..Why Do We Need So Many Gurus?


    Apr 04, 2009
  3. brad

    I don’t think a better postal service standard is going to encourage people “buy Canadian” when the variety of goods available from Canadian online or mail order dealers is so much smaller than that in the United States. Just compare, for example, the Amazon.com store in the US with Amazon.ca. Canada has 1/10 the population of the United States and online retailers here simply don’t have the same economies of scale or the same potential market, so our choices are far more limited. I often find myself ordering things from the US because I can’t find them anywhere locally or online from Canadian stores. I don’t think there’s a simple solution for that problem. We’re a very small market compared with that of the U.S.


    Apr 06, 2009
  4. Brad, yes we do have a much smaller market compared with the US.

    Often times I can find a Canadian store that carries something I could order from Amazon or another US retailer. It’s just that shipping within Canada or ordering from an online Canadian store seems to cost more, and take longer. I’m mostly thinking about alternative products, some of which come from Canada (i.e. Hemp Protein Powders grown in Manitoba) but are more easily ordered in the US.

    Nathalie Lussier’s last blog post..Why Do We Need So Many Gurus?


    Apr 06, 2009


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