Nearly half of Canadians live pay cheque to pay cheque. A recent survey by the Canadian Payroll Association reported that 47 per cent of us would face financial hardship if our pay was delayed as little as a week. One of the easiest ways to save money is to takeContinue Reading
Mutual fund fees are higher in Canada than elsewhere. And despite efforts to beef up disclosure, buyers are still in the dark about what they pay. Industry critics have talked about inflated fund ownership costs for years. Now there’s a discussion paper by the Canadian Securities Administrators that bolsters theirContinue Reading
Pets. Landlords don’t want them in their properties. Tenants can’t live without them. Unfortunately, the law in Ontario just makes it worse for everyone. Under the law, you can’t prevent a tenant from bringing a pet into your property, unless it is a condominium and the building declaration says noContinue Reading
Canadians are always looking for better ways to bank in the U.S. Snowbirds need a U.S. bank account to take care of the bills at their condo. Canadian shoppers want easier ways to pay their Macy’s or J.C. Penney account after cross-border shopping sprees. Opening an account at a U.S.Continue Reading
If you have ever heard the phrase “A day late and a dollar short,” it applies to me. After spending six years looking forward to the day when I could burn my mortgage, my final lump sum payment was $1 short of paying off the $1,979 balance. So instead ofContinue Reading
Ming and Li are exceptional savers. They have already paid for their $300,000 home in southwestern Ontario and saved nearly $330,000, without any help from parents since they graduated. They have built a solid financial base for themselves and their two young children. Now the 37-year-old software developer and 34-year-oldContinue Reading
Almost half of all Canadians have opened a tax-free savings account, according to a survey released last week by CIBC. That’s a remarkable take-up considering that TFSAs haven’t even been around for four years. That’s the good news. The bad news is that about half of those people aren’t activelyContinue Reading
North America’s only enduring bout with deflation was in the Great Depression of the 1930s, a lost decade of economic hardship, high unemployment and falling prices. While there’s no immediate worry that we’re headed there, the debate has heated up as Europe copes with deep recession and a banking systemContinue Reading
A few weeks ago, I was talking to the man next to me on the train and the topic of engagement rings came up – or more specifically – how much a man should spend on a ring. My instinct was to suggest one month’s salary, because even at minimumContinue Reading
If you’re dreaming of an early retirement, you need to start saving at an early age, too. That can be difficult if you’re just stepping into your first full-time job, or if you’re also saving for a house or paying off a student loan. While it’s true that paying downContinue Reading
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