My kid schooled me in Economics, and Why we are helping the Food Bank

In 2016, we took our kids on a family trip to Mexico for the first time. One evening, we decided to visit downtown Cancun because we thought, “Hey, let’s go buy food instead of eating for free at the resort.” 😛

(Yes, I tried a beard for a time. I thought it would make me look tough, but it didn't work.)

As we were leaving a Haagen-Dazs ice cream shop, my son, who was 10 at the time, said, “Dad, the exchange rate at the hotel is not as good as downtown.” 

I nodded in agreement, licking my surprisingly expensive ice cream. 

He went on to explain how he thought he could make money because of the difference between the two locations. 

I told my son, “In investing, this is called arbitrage, which is basically buying something in one market and selling it for more in another market.”

As an entrepreneur, it was a proud dad moment for me, to see my son not only notice this discrepancy, but to then try to figure out how to profit from it.  

I share this story because I love finding amazing arbitrage opportunities, to either make or save a buck. 

A fantastic example of this is the Canada Food Bank. Most people think the best thing to give the Food Bank is, well, food. 

However, you would be wrong. 

In most areas, the Food Bank has negotiated deals with local providers and, on average, for every $1 donated, they can buy $5 worth of food!  

This is a fantastic form of leverage, and is why I prefer to support the Food Bank with cash whenever possible. 

This year, we decided to do something for mortgage brokers and their families while also supporting the Food Bank. 

We came up with “BRX Cares” as a way to raise awareness and funds for the Food Bank. 

How does it work?

Make a donation of $20 or more, using the link below, and you will be entered into a draw to win up to $2,500 of your next mortgage payment. 

100% of your donation will go to the Food Bank (we will cover the credit card fees). 

Who can enter? 

This is open to all mortgage brokers and agents from ALL networks. If you are reading this blog, you can enter for a chance to win. 😀

When does it happen? 

The draw will be live on social media on January 9, 2023.

→ Let’s Do This!

If you find any of our podcasts or other online content helpful, please consider donating. The Food Bank tends to see a dip in donations right after Christmas, and we think it would be a great time to help them apply a little arbitrage of their own.