Personal Savings getting you down? There are always smart ways to increase your savings.
Latest News
Scotiabank Gold American Express Card review + MORE Jan 14th
The Scotiabank Gold Amex combines some of the best aspects of a travel card with the ability to participate in the Scene+ Rewards Program. For a modest annual fee, you’ll enjoy considerable insurance coverage, some travel perks, and the ability to earn up to 6 Scene+ points per $1 spent.
Who is.... More »
Do I Need a U.S. Dollar Bank Account? Oct 18th
With the Canadian dollar hovering around $0.78 U.S., those who travel frequently to the U.S. (or just about every other country that accepts U.S. dollars over Canadian) are likely taking a financial hit with every purchase. If the cost of exchanging money back and force between currencies is putt.... More »
What happens to an RESP when you die + MORE Nov 16th
Q: I am the account subscriber for an RESP for a child to whom I am not related by blood. I have been told by the financial institution that the only way to name the child’s father as the subscriber upon my death is through my will, which would be subject to probate. Is that correct? I would hav.... More »
Should you buy a vacation property? + MORE Aug 29th
The benefits of owning a vacation property are obvious. A cottage, cabin, condo or trailer a short drive from your home can provide a quick weekend recharge. A property down south can serve as a regular vacation destination or extended winter stay for a snowbird.
There are many emotion-driven reason.... More »
How to handle a stock with a huge capital gain + MORE Jul 23rd
If you hold investments in a taxable non-registered account, then income tax considerations ought to be part of your investing decision-making process. Although capital gains tax rates in Canada are relatively low, with only 50% of a capital gain being taxable to an investor, the dollars of tax paya.... More »
Use Aeroplan miles to pay off student loans
– moneysense.ca
Not sure what to do with all those Aeroplan miles you’ve racked up? With a Higher Ed Points account, you can convert Aeroplan miles into funds to help pay for your (or someone you love’s) post-secondary education.
Under the program, every 35,000 Aeroplan miles is equal to $250 in provincial student loans in Ontario and Alberta or tuition payments at participating universities across Canada, including University of Winnipeg and Acadia among others. Higher Ed Points hopes to partner with the Canada Student Loans program and other provincial student loan institutions in the future, says founder Suzanne Tyson.
Family and friends can help out by donating their miles as well. If you’re a frequent flyer, you may have collected enough points already. If you live in Toronto for example and have flown economy to Honolulu, Hawaii, Sydney, Australia, and Athens, Greece, you should have collected almost 39,000 miles to put towards that diploma.
5 things your loyalty program isn’t telling you »
Under the program, every 35,000 Aeroplan miles is equal to $250 in provincial student loans in Ontario and Alberta or tuition payments at participating universities across Canada, including University of Winnipeg and Acadia among others. Higher Ed Points hopes to partner with the Canada Student Loans program and other provincial student loan institutions in the future, says founder Suzanne Tyson.
Family and friends can help out by donating their miles as well. If you’re a frequent flyer, you may have collected enough points already. If you live in Toronto for example and have flown economy to Honolulu, Hawaii, Sydney, Australia, and Athens, Greece, you should have collected almost 39,000 miles to put towards that diploma.
5 things your loyalty program isn’t telling you »
Air Miles expands points donation program »
The post Use Aeroplan miles to pay off student loans appeared first on MoneySense.
Trudeau, Harper clash over pensions, income-splitting
– moneysense.ca
Conservative leader Stephen Harper and Liberal leader Justin Trudeau butted heads during Thursday’s national leaders’ debate when Maclean’s moderator Paul Wells raised questions about the country’s economy. The discussion veered toward pensions and income-splitting and what the government is doing to help Canadians save for retirement.
Trudeau jumped on Harper’s refusal to co-operate with the provinces on enhanced government pension plans.
“You’ve categorically refused to actually engage in the kind of pension security that Ontario and other provinces are asking for,” said Trudeau. He also pointed the finger at Harper for changing the retirement age from 65 to 67.
The Harper government recently announced that it would not help the provincial government with the implementation of the Ontario Retirement Pension Plan. The plan will force Ontarians without a workplace pension plan into mandatory retirement savings. Instead, the Tories have recently promised to consider voluntary CPP top ups by taxpayers…
Trudeau jumped on Harper’s refusal to co-operate with the provinces on enhanced government pension plans.
“You’ve categorically refused to actually engage in the kind of pension security that Ontario and other provinces are asking for,” said Trudeau. He also pointed the finger at Harper for changing the retirement age from 65 to 67.
The Harper government recently announced that it would not help the provincial government with the implementation of the Ontario Retirement Pension Plan. The plan will force Ontarians without a workplace pension plan into mandatory retirement savings. Instead, the Tories have recently promised to consider voluntary CPP top ups by taxpayers…
Enrollment surge likely under Clinton debt-free tuition plan, potentially boosting its cost
– canadianbusiness.com
WASHINGTON – Hillary Rodham Clinton’s plan to make college more affordable and ease the burden of student debt could easily end up costing more than her proposed $350 billion.
Clinton’s plan essentially shifts more of the financial burden of college from students and their families to taxpayers. Much of the $350 billion she wants to spend over 10 years would help provide debt-free tuition at public colleges, but many students would still be on the hook for food and housing.
And for the plan to generate all the economic benefits it envisions, the reforms would need to both reduce the rising costs of higher education while increasing graduation rates.
Each challenge reflects the difficulty of transforming a higher-education system increasingly dependent on personal debt.
The amount of outstanding educational loans has nearly tripled over the past decade to $1.3 trillion, a reflection of the rising costs of college, an economy where more entry level jobs require undergraduate degrees and relatively stagnant personal incomes that have made it difficult for parents to save for their children’s education…
Clinton’s plan essentially shifts more of the financial burden of college from students and their families to taxpayers. Much of the $350 billion she wants to spend over 10 years would help provide debt-free tuition at public colleges, but many students would still be on the hook for food and housing.
And for the plan to generate all the economic benefits it envisions, the reforms would need to both reduce the rising costs of higher education while increasing graduation rates.
Each challenge reflects the difficulty of transforming a higher-education system increasingly dependent on personal debt.
The amount of outstanding educational loans has nearly tripled over the past decade to $1.3 trillion, a reflection of the rising costs of college, an economy where more entry level jobs require undergraduate degrees and relatively stagnant personal incomes that have made it difficult for parents to save for their children’s education…
