Greece planning to ease ban on foreclosures, insists the poor won’t lose their homes + MORE Aug 22nd

Many grads recall their university or college years as some of the best of their lives. They may also remember them as the most expensive; funds can be scarily low when tuition, books, dorm rooms and meal plans must be paid for.
Money management is key during those years; students need to employ strategy to stretch their savings as far as possible. But those saving strategies shouldn’t go out the window once exams have finished and a steady paycheque is on the horizon. Here are five student financial tips that everyone should heed.
Cut Down On Swiping
Relying on your credit card is the easiest way to spend beyond your means. Students often learn this the hard way, wracking up thousands of dollars of credit card debt that, when combined with student loans, leave them floundering after graduation. According to recent research by TD Canada Trust, 31 per cent of students and recent grads wished they had been more responsible with their credit card while at school. Thirty eight per cent of Gen Y-ers report having debts from credit cards, lines of credit and loans…

ATHENS, Greece – Greece’s conservative-led government said Thursday it will water down laws protecting homeowners from foreclosures, but insisted that vulnerable borrowers worst-hit by the country’s financial woes will still not lose their homes.
Since the Greek debt crisis broke in late 2009, triggering global economic unrest and throwing the eurozone into disarray, banks have been banned from repossessing primary residences worth up to 200,000 euros ($270,000).
That shielded Greeks from the wave of evictions afflicting Spain, another battered southern European economy where about 30,000 people lost their primary residences last year because of non-payment of mortgages.
Prime Minister Antonis Samaras said his government is working on amendments targeting those who can pay off their mortgages but don’t, while retaining protection for the poor.
“Primary residences of socially weak citizens and those who can demonstrably not service their loans will be absolutely protected,” he said after talks with key coalition ally Evangelos Venizelos, Greece’s foreign minister who heads the small Socialist party…

TD Bank has joined the rest of Canada’s big banks in hiking mortgage rates. The new rates took effect Thursday.

A new report by the Fraser Institute says it costs less to raise a child than previous studies, including an estimate by us here at MoneySense, have suggested. The conservative think-tank says it is possible to raise a child on about $3,000-$4,000 year whereas we’ve pegged that number closer to $13,000 a year when you factor in shelter, food, clothing, recreation, child care and more. Parents, tell us what you think by leaving a comment in the comments section below.
Still on the topic of raising children, a CIBC survey suggests 36% of Canadians are delaying retirement to help pay for their kids post-secondary education while one-third have taken on extra debt to help pay tuition and related expenses.
TD and RBC followed in the footsteps of BMO Thursday, raising rates on fixed mortgages. Qualifying applicants can now borrow at just above 3.6% interest for five years at most big banks. That’s still well below historical highs so potential homeowners needn’t be too discouraged especially since the rising rates may have the effect of cooling average national  house prices…