Personal Savings getting you down? There are always smart ways to increase your savings.
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10 retirement questions, answered Nov 9th
(EpicStockMedia/Shutterstock)
1. Am I saving enough for retirement?
Ah, the million-dollar question. Lets look at a specific example, shall we? Say you have a $50,000 per year salary and $160,000 in your RRSP at around age 60 and plan to contribute another $10,000 a year for 10 years. Is this enough.... More »
Laurentian Bank mortgage probe continues, price tag expands + MORE Mar 1st
Laurentian Bank says it expects to finish its review of problematic loans sold to an unnamed lender by the fiscal second quarter, and will fix or repurchase any mortgages that failed to meet the proper criteria..... More »
10 ways to save more and pay down your debt + MORE Nov 30th
1. Set a goal
If you’re serious about saving you need to set a goal so you know what you’re saving for. Whether it’s a trip to Japan you hope to take in a few months or saving for retirement, having a very specific goal will help you stay motivated and on track.
2. Track your dollars.... More »
How to draw money out of your corporation in retirement Nov 7th
Incorporated business owners can sometimes be unsure of how best to decumulate, drawing from their corporate savings along with their other investments and pensions. Corporate savings do provide complexity as well as opportunity.
From paying yourself a salary to drawing income
Business owners .... More »
What is a mortgage? Nov 14th
Mortgage negotiations can be overwhelming, especially for first-timers. If you’re wondering about mortgages—how they work, what types of mortgages exist, who can apply and how to get approved—you’ve come to the right place.
Mortgage: the simple definition
In its simplest fo.... More »
2014 Conservative Budget Highlights You Should Know About
– ratesupermarket.ca
This Tuesday, February 11, 2014, Finance Minister Jim Flaherty unveiled the 2014 federal budget. While the government is still focused on eliminating the country’s deficit – it’s currently projected to be about $2.9 billion this year – there are a few carrots for some Canadians in this latest rendition. Here’s our breakdown of what to look for from the government this year.
No Income Splitting… Ever?
First off, one anticipated budget item that didn’t actually the cut is income splitting. Income splitting, which would allow Canadian families to “share” up to $50,000 of income in order to reduce their marginal tax rate, was a key part of the Conservatives election campaign platform in 2011.
While not particularly fiscally conservative (the plan could cost federal coffers up to $2.5 billion in lost tax revenue), it’s intended to target the more socially conservative wing of the party’s support. Specifically: families with stay-at-home moms. Critics have argued that the program would only really benefit a small percentage of Canada’s wealthiest families, while offering no tax-savings for single-parent families, or those where both parents are working for comparable, modest salaries and having to pay for childcare…
How to cut your hydro bill without really trying
– thestar.com
Energy prices are going nowhere but up. Home energy monitors are one way to help you find savings.Canadian Debt Levels Are Higher Than Ever… But We’re Not Worried
– ratesupermarket.ca
When it comes to financial goals, debt repayment is the top New Year’s Resolution for many Canadians. In a blog post I wrote just last month, I discussed how Ontarians are choosing debt over retirement savings. Despite the fact that we’re finally starting to listen to the Bank of Canada’s message that interest rates aren’t going to be low forever, Canadians keep piling on debt. Even if you want to repay your debt, it could take some people a few years or longer to get their debt fully paid off.
Consumer Debt Continues to Rise
The facts don’t lie – Canadians love spending. The household debt-to-income ratio hit a new high in the third quarter of 2013, reaching 163.7 per cent. Although it’s not the best measure of consumer debt, it shows that Canadians continue to take on debt, despite the warning bells.
A recent survey from Equifax paints an even bleaker picture. Consumer debt, including mortgages, in Canada totaled $1.422 trillion in the fourth quarter of 2013, according to credit rating service…
How to cut your hydro bill without really trying
– thestar.com
Energy prices are going nowhere but up. Home energy monitors are one way to help you find savings.
