The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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AIR MILES Flash Offer: Earn up to 400 bonus miles this weekend via AIR MILES Shops + MORE Oct 14th
This weekend’s AIR MILES Flash Offer is a bonus for shopping online at your favourite retailers via AIR MILES Shops. The bonus requires members to opt-in which can be done right on the airmilesshops.ca home page. Then shop to your heart’s content to earn bonus miles as follows: 20 Bonus .... More »
Planning through salary swings + MORE Oct 19th
Q: My income fluctuates quite widely from year to year. How do I plan for this and how do I handle the tax implications of such income swings?
—David
A: Yours is the challenge of many a commissioned salesperson or business owner, David. The thought of a stable salary and defined benefit pension.... More »
October 25 Update: Earn 10x AIR MILES via airmilesshops this weekend, Get $10 for free for downloading Ampli & more! Oct 26th
This is the weekend to do some online shopping if you are an AIR MILES collector! From today through to Sunday they are offering 10x the miles sitewide on airmilesshops.ca! Find out more here.Ampli, is offering $10 for downloading their app and joining the program. Simply Download Ampli and enter .... More »
What Happens To Debt When You Get Married? Dec 14th
Many couples are getting married with a significant amount of debt. One or both partners might have student loans, credit card debt, a line of credit, an auto loan, or a mortgage. In 2014, Harris/Decima conducted a poll that showed two in five Canadian newlyweds enter their marriages with debt .... More »
Aeroplan credit cardholders can earn 10 bonus points per dollar spent on eStore purchases for Black Friday + MORE Nov 7th
Air Canada Aeroplan revealed their first major Black Friday promotion today. This is first of what will most likely be many offers from Air Canada and Aeroplan for flight deals, bonus points and more! This first offer is the now annual points boost that is sent to select Aeroplan co-brand credit c.... More »
10 times NOT to use credit cards
– creditcards.com
Credit cards are convenient, but if you want your sanity and pocketbook to survive intact, give the poor things a rest sometimes
How unpaid medical debts affect credit scores
– creditcards.com
Ignore unpaid medical bills at your own peril: You may have healed, but your credit score may stay sick for a long time
Low-risk investment ideas for retirees
– moneysense.ca
(Image courtesy of creativedoxfoto / FreeDigitalPhotos.net)Q: I have $100,000 invested in low-rate GICs in my RRSP. I’m a 63-year-old retiree and don’t need this money for five more years. Are there any other ‘secure’ investments or ones with very minimal risks that will give me a better return? I have $200,000 in registered mutual funds, and want to keep a balanced portfolio.
—John Tobias, Russell, Ont.
A: Interest rates have been in this insanely low Twilight Zone for a few years now. Homeowners are demonstrating their love of low rates by taking on huge mortgages and lines of credit. But retirees like you have very few places to find yield. Exchange-traded funds (ETFs) that focus on corporate bonds or that hold dividend stocks might do a bit better. But higher returns mean higher risk and you might not be willing to make that trade-off for a few grand more a year. My advice would be to step back and look at your overall retirement plan, including CPP, any other pension income you have and your home…
