Arm yourself with enough information and you’ve got the power to make effective decisions. That’s the underlying message everyone should take from their time in academia. Moving from your final year of university to the first step toward your career can be stressful. Having the ability to earn more than the national average as a graduate is one thing, but making the most of this opportunity is another. This is where grounding in simple economics and finance comes in handy. We’re not saying you need to be John Maynard Keynes or Warren Buffet, but you should know how to read the economic calendar and know what events could affect you.

Graduates Have a Golden Opportunity

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If you use the global economic calendar as a tool to filter global results, and then select “Canada, high importance,” you’ll see entries for events such as “BoC interest rate decision.” That’s something you need to know. Interest rates affect savings accounts, mortgage rates, loans, and credit cards. You need to think critically about what an interest rate decision might mean for you. If you’re a saver, an interest rate hike will be beneficial. If you’ve got a tracker loan, a rate hike could be a problem.

A lot of people are in a position where they don’t have the time or means to think about prosperity. They’re simply doing what they can to survive. If you’ve earned a degree, there are opportunities to earn an above-average income. A Labour Force Survey revealed that the average annual salary in Canada for 2022 was $59,300. According to this report from, the average Canadian graduate salary is $73,860, with entry-level positions paying $52,419.

Use the Data to Your Advantage

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Once you’ve established what a rate change might mean for you, the next course of action is to act whenever possible. There will be times when you can’t do anything but accept the change. Let’s say you have money sitting in a checking account that’s surplus to requirements. You check the economic calendar and note down when an interest rate announcement is being made. The BoC announces a rate increase. 

The move here would be to put your money into a savings account. If you have money in a savings account and the rate was cut, you might want to consider a change of product. Maybe it’s better to put money into an ETF such as the S&P 500 to give yourself a chance at earning a better return. Stock market returns aren’t guaranteed. With the right information and some critical thinking, you’ve given yourself a chance to earn a positive return. This is the point we’re making here. Universities are designed to produce critical thinkers, not databases that store facts. 

You need the facts to make decisions, of course, but you need to use them. Understanding this is particularly important when it comes to money. Graduates have the power to earn more than non-graduates. Don’t waste this opportunity by ignoring the facts and becoming a lazy thinker. Use the knowledge gleaned from university to build your own financial empire.