Archive for December 2015
Weekend Reading: Clarifying New Rules Edition
The new federal government has proposed changes that will affect your personal finances next year. This edition of weekend reading looks to explain these changes and how they might impact your wallet. Let’s get to it: Minimum Down Payment Increase This week the Liberals introduced changes for minimum down payments on a home purchase. The new rules,…
Read MoreAn Expensive Degree Landed A Better Career: A Boomer & Echo Financial Makeover
James Turik, 38, owns a sparsely furnished, two-bedroom condo unit in a trendy downtown neighbourhood. He plundered his RRSP as well as his other savings for the down payment. “Now that things are freeing up,” James says, referring to his healthier financial situation, “obviously, I have to start putting money away again.” After working in…
Read MoreThe Real Cost Of Bad Habits
This is the time of year when people take stock of their lives and vow to start the new year with a change of habits: stop smoking, exercise, eat better, take care of finances. And yet the majority will fail to keep up with the changes within the first month. Bad habits have both a…
Read MoreCanadian Mutual Funds: A Steep Price For Underperformance
Investors in Canadian mutual funds pay a steep price for underperformance. In a 2015 Morningstar report on mutual fund fees, Canada ranked dead last among 25 nations – with expense ratios on equity mutual funds averaging 2.35 per cent in Canada versus an average of 0.84 per cent in the United States. Couple that with…
Read MoreWeekend Reading: Financial Literacy Edition
November was financial literacy month but you wouldn’t know it from any specifically promoted ‘literacy’ articles on this blog. I take issue with the way banks and investment firms try to shoe-horn their way into the financial literacy curriculum when a good portion of the content should be about educating Canadians on how to become savvy…
Read MoreBoost Your Rewards With The Amex Refer A Friend Program
When I reviewed the best credit cards in Canada a few months ago I touched on the fact that I took advantage of several sign-up bonuses in order to boost my rewards. I found that the best card issuer for these types of bonuses – hands down – is American Express. What I look for is…
Read MoreSpend Less Or Earn More?
It’s been said that it’s a lot easier to spend less money than it is to earn more money because it does not take as much effort. But is this really true? It does take some time and effort to do such money-saving tasks as preparing a meal plan, grocery shopping from a detailed list,…
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