Get Ready for Springtime Spending + MORE Apr 27th

ATHENS, Greece – Greek Prime Minister Alexis Tsipras is to request an emergency European summit on his country’s troubled bailout program, after talks with creditors again failed to achieve a breakthrough.
Greek officials say Tsipras will call European Union Council President Donald Tusk later Wednesday to proposal the meeting of leaders from European countries that use the euro currency.
Athens’ stock index is down nearly 4 per cent after the new setback Tuesday in the talks between Greece and representatives of its European partners and the International Monetary Fund.
Greece’s finance ministry says there is agreement on creditor-demanded austerity measures worth 3 per cent of GDP — or 5.4 billion euros — by 2018. But disagreements remain over how to guarantee that an extra 3.6 billion euros in savings will be implemented if deemed necessary.
The post Greece to seek emergency European meeting on bailout appeared first on Canadian Business – Your Source For Business News.

In our April 2016 issue of MoneySense, we introduced you to Lindsay Tithecott, a 29-year-old who is trying to pay down debt, build up savings and buy a larger condo. Throughout the year we’ll be giving her a financial challenge every two weeks to help her get her finances in tip top shape. Make sure to follow along! In her last challenge, we asked Lindsay to rethink her budget-busting fitness classes. This week’s challenge involves more budget basics. 
Challenge No. 2
Lindsay’s budget factors in savings as if they were an expense. This can make budgeting very confusing. So for her second challenge, we asked Lindsay to redo her budget, starting with annual disposable income and not including any savings at all.
To do this, we asked her to take pay stubs from both her full-time job and her part-time job and do the following:
1. Calculate what she earns gross annually from both jobs, then deduct income taxes, EI, CPP, Disability insurance payments, etc. from that amount to get her total net income…

Winter has finally lessened its grip, and cold weather-weary Canadians have emerged to enjoy the sunnier days. But it’s not just spring flowers that are in for a growth spurt; warmer weather can have a taxing effect on the wallet as well.
Read on for this week’s top savings tips, from the best credit cards for patio hopping, to questions every savvy first time home buyer should know to ask.
The Best Credit Cards for Dining Out
With less spending power and stagnant wage growth, many Canadians are choosing to dine out less frequently, according to the Conference Board of Canada. How can you offset your dining costs? We’ve rounded up the best credit cards for earning rewards on your restaurant purchases.
Read Amanda’s Blog | The Best Credit Cards for Dining Out
CMHC to Investigate Foreign Real Estate Ownership
What is the true extent of foreign real estate ownership in Canada? The CMHC is attempting to find out, as both house and condo prices skyrocket. But will this new set of data paint a realistic picture of homeownership in Canada?
Read Allan’s Blog | CMHC to Investigate Foreign Real Estate Ownership
4 Essential Mortgage Features to Ask For
Buying a home? Savvy mortgage shoppers know comparing the market for the best rate is a great way to score a better deal on home financing…

The dangers of taking on too much debt are a constant narrative in Canada, especially as the economy takes a turn for the worst. Today’s environment of high unemployment, low oil prices and tepid growth forecasts prompt a stern warning for consumers to resist borrowing too much, as exposure to credit card delinquency poses risk to both individuals and the big banks.
However, a new report by Canaccord Genuity analyst Gabriel Dechaine questions whether credit card debt really heightens the risk for banks – and that it could actually have the opposite effect. Says Dechaine, “despite the ‘doom and gloom’, most credit metrics for cards are surprisingly resilient,” adding, “While there has certainly been smoke, (e.g. rising unemployment) we have yet to see much fire.”
His report states “Canadian banks have over $60 billion of Canadian credit card receivables, which represents only 3 per cent of total sector loans. Yet we estimate they generate 10 per cent of sector profits,” adding that as some key businesses experience a slowdown (e…