Build it up, draw it down: Why it’s such a struggle to save an emergency fund

In the Greek myth of Sisyphus, he was condemned for eternity to roll a boulder up a hill, just to see it roll right back down.  For those of us trying to build up emergency funds of short-term savings, it can feel like a similar exercise: As soon as you manage to put some cash aside, you have to draw it down for sudden expenses — and then start all over again.

Credit swindlers duping Millennials way more than seniors, survey says

Forget the picture of the doddering senior getting ripped off by fraudsters, a new survey says Millennials are the most likely people to be duped.

The study from ratings agency Equifax Inc. found 50 per cent of suspect and highly suspect credit application frauds in Canada in 2015 were against Millennials or Generation Y — regarded as anywhere from age 16 to 36. In second place was Generation X at 29 per cent and then Baby Boomers at 17 per cent.