Top Ways to Save Money As a New Parent + MORE Jun 15th

This Father’s Day, celebrate being a new parent with these tips on how to save on baby essentials.
As a new parent, it’s very easy to go overboard on spending. After all, who wouldn’t want to shower an adorable new human with an influx of cute items? The truth is, you can spend as much or as little as you want and still have all the necessities for your little one. These days, there are so many creative ways to be thrifty while continuing to get high quality products.
Here are a few ways to become a shopping-savvy, frugal parent:
Use loyalty points
Loyalty points are a great way to stretch your dollars that extra mile further. New parents will see their expenses increase in certain areas (can we say diapers?), so lining up a good credit card or two will mean savings down the road. Here are a few of our favourite picks for new parents based on loyalty points for groceries, pharmacy purchases, and maybe a movie or two with your tot:
President’s Choice Financial® World Elite MasterCard®: Diapers and baby food will surely eat at your grocery bill, so you might as well reap the benefits from a grocery rewards card…

Q: I’m a Canadian citizen, but a non-resident living and working in South Korea. I am 47-years-old, and recently received a settlement from a motorcycle accident and now, along with my previous savings, I have about $125,000+ to invest. I have previous RRSPs, but I know that I cannot invest any further in those. I do not feel comfortable leaving such a significant amount of money in South Korea considering the volatile nature of the North.
I would like put a significant piece of that money into a passive investment such as a Vanguard index fund and do some more active investing with the rest. However, I do not want to lose my non-resident status. Would I be better off investing in Canada, the U.S., or elsewhere? I’m not sure I will be moving back to Canada when I retire but have no plans on giving up my Canadian citizenship. I’d appreciate any advice you could give me.
— Brian W.
A: I’m sorry about your accident Brian. You will certainly want to discuss your investment options with an investment advisor but I can provide some information on your tax questions…

Canadians owed $1.67 in consumer credit, mortgages, and non-mortgage loans for every dollar of household disposable income in the first quarter of 2017, a slight quarterly decrease as household net worth rose from the end of 2016.

TORONTO — Canada’s federal housing agency says the average scheduled monthly mortgage payment for new loans climbed to $1,328 in the fourth quarter of 2016, up 4.6 per cent from $1,269 a year ago.

The increase came as house prices continued to rise, particularly in the cities of Toronto and Vancouver and their surrounding areas.

Canada Mortgage and Housing Corp. says the fact that the average scheduled monthly payment is growing faster than inflation is concerning because it suggests that homeowners could struggle to make their payments going forward.

In Toronto, the average payment was $1,826 during the fourth quarter of last year, up 11.5 per cent from $1,638 a year prior.

In Vancouver, it rose by 4.5 per cent to $1,936 from $1,853 in the fourth quarter of 2015.

CMHC, which obtained the data from credit monitoring agency Equifax, says mortgage delinquency rates during the fourth quarter of 2016 were 0.34 per cent nationwide compared with 0.35 per cent a year earlier.

What’s Going On In Housing?
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If you receive a large refund every year, you’re paying to much. Here’s how to cut it.