October 20 Update: Aeroplan accumulation changes on ANA, 100 Bonus AIR MILES at Rexall, Starwood Canada upgraded room sale + MORE Oct 20th

My husband just got a promotion that comes with a $20,000 bump in salary. What should we do with the extra money: Pay the mortgage quicker? Save it in RRSPs and TFSAs? Take a family vacation? Or maybe it should go towards our upcoming $3,000-a- month daycare bill.
—Jennifer, Vancouver
Congratulations! But before you start making elaborate plans, realize that $20,000 added to a $100,000 salary will amount to only an extra $1,000 per month after taxes. And that’s what counts—what you get to keep after taxes.
Start by looking at your financial goals and creating a time line, along with a realistic amount needed, to reach each goal. If your spending plan doesn’t include funding for more immediate expenses, such as the entire $36,000 annual daycare bill, then this extra money will have to be used for that. Or if you’ve been accumulating debt and paying higher rates of interest on credit cards, then a strategy to pay down that debt is an excellent idea. Only when you are able to meet your current expenses and have paid down debt should you consider adding to retirement savings…

People who haven’t been through bankruptcy may think it’s an easy way out. They might believe that people who are overwhelmed with their debt simply go to court and get it discharged, putting an end to their worries. Anyone who has gone through bankruptcy, however, knows that’s not the case. The process is difficult, expensive and hurts you well down the line. Once it’s over, your bankruptcy stays on your credit history for up to seven years, dragging down your credit score.
Improving your score after bankruptcy is a long process that should be started as soon as possible in the event you need to borrow money in the future.
Related read: When should you declare bankruptcy?
First Things First
Three months after your debts are discharged, you should receive a copy of your credit history. You are entitled to one free report per year, but you can pay to obtain additional ones. Both Canadian credit bureaus, TransUnion and Equifax, send your free report via mail, but you can get it online for a small fee…

News, Tips & Tricks Aeroplan announced accumulation changes for flying on ANA (All Nippon) earlier this week that take effect on November 1. You’ll earn 150% of the miles when you fly on a J fare class instead of 125%. P Class fares drop from 125% to 100% and discounted economy class V,W,S drop to 50% from 70% and L,K, drop to 30% from 50%. So mostly not good news for those flying on cheap tickets on ANA. (Source Aeroplan)AIR MILES members can earn 100 bonus Reward Miles for spending $50 or more this weekend at Rexall. No coupon is needed.Don’t forget Canadian Points University is on this Saturday! Rewards Canada’s Jeff Fredericks will be delivering the lunch keynote. Find out more at Pointsu.ca Posts since our last update:Restaurant Review: Yakima Social Kitchen & Bar – Calgary International Airport As part of our recent stay at The Calgary Airport Marriott In-Terminal Hotel we thought we would try the food…Club1Hotels Update: Free for the first year ($675 savings) + now get a $100 Restaurant gift card and/or Priority Pass Membership with bookings A little over a week ago we let you know about Club1Hotels and even ran a contest that is… Travel DealsStarwood Hotels is offering up to 15% off on upgraded room types for stays across Canada…

Some variation is expected, but big differences merit investigation

NEW YORK, N.Y. – Stocks that moved substantially or traded heavily Thursday:
eBay Inc., down $3.50 to $29.02
The online marketplace gave a fourth-quarter forecast that disappointed investors.
American Express Co., up $5.53 to $66.78
The credit card issuer raised its annual outlook after its third-quarter results were stronger than analysts expected.
Mattel Inc., up $1.84 to $32.46
The toy company reported better sales of Barbie products and games, among other items.
Verizon Communication Inc., down $1.24 to $49.14
The telecom giant posted weak revenue and growth in wireless, while cable and internet subscriptions slowed down.
Dunkin’ Brands Group Inc., down $1.62 to $49.38
The restaurant chain cut its forecast for revenue growth after announcing weak sales in the third quarter.
Select Comfort Corp., down $2.59 to $18.99
The mattress retailer slashed its guidance after its sales came in far lower than Wall Street expected.
Snap-on Inc., up $9.95 to $159.06
The tool and diagnostic equipment maker posted a larger profit than analysts had forecast…