The assets, which include properties in Penn West's Dodsland ‎Viking area, produce about 13,600 barrels of oil equivalent per day

We asked Gail Vaz-Oxlade how to talk about differing financial values without starting an argument.

The desire to own a cottage where you can look forward to making memories on the same lake every summer is an obvious one for many Canadians.
However, Ted Rechtshaffen, president and chief executive of TriDelta Financial, says the financial argument for owning a cottage instead of renting one is harder to make.
“From a financial perspective, I think it’s quite often not a good idea to buy a second property that you’re not going to be renting out or living in,” Rechtshaffen says.
“It is an incredibly expensive thing and you’ve got to hope that real estate in the cottage country wherever you’re buying is going up a lot or at least a pretty steady amount to make up for the huge expenses.”
The costs of owning a cottage are a lot like owning a house in the city. You have property taxes, maintenance costs and utility bills as well as a mortgage if you have to borrow to buy it.
Now is a great time to buy a cottage »
There will also be the cost of insurance and any upgrades you will want to make…

Learn whether getting pet insurance is for you or whether you should open up a doggy or kitty savings account.

Why families need to start preparing for next year’s tax season, now

The Liberal government unveiled its budget and, as presented, it seems to eliminate more credits, than it introduces.

First, the Family Tax Cut will be eliminated for 2016. It allowed couples with at least one child under the age of 18 to claim a non-refundable tax credit of up to $2,000 based on the tax savings that would be realized by splitting income between spouses.

Second, the Children’s Fitness Credit and Arts Amount will be eliminated over a two-year period. This means that families can take advantage of the credits on their 2016 returns but at reduced amounts. The Children’s Fitness Credit will remain refundable and be reduced from $1,000 to $500, with a resulting tax savings of only $75 per child. The Children’s Arts Amount will be reduced from $500 to $250 and give filers a tax savings of $37.50 per child. In 2017, however, these programs, along with the supplemental amount for children eligible for the disability tax credit, will be removed from tax returns…

Major supermarkets are selling bruised, misshapen fruits and vegetables for discounted prices to cut down on food waste. But is ugly produce worth the savings?

It’s funny how having a few kids can upend even the best laid financial plans. That’s precisely what Sammu and Mandy Dhaliwall are discovering as they deal with the competing challenges of raising children and still finding a way to pay off the mortgage and save for the future. It’s a juggling act all parents must eventually contend with, and for the Dhaliwalls that reality set in about three years ago.
Back in 2013, the young couple realized their suburban Toronto home needed a major basement reno to create more play space for their growing brood, which now includes a five-year-old daughter and two-year-old twins. To do that, they ran up a hefty bill on their line of credit (LOC)—of which $90,000 remains, not to mention the $350,000 still left on the mortgage. “We made a key decision to stay put and make do with the three-bedroom home we had already bought,” says Sammu, 37, who works as a pharmacist. “We’re close to family here and they’re our support network.”
To whittle away at their debt, the couple pays $10,000 annually to their LOC while making the minimum monthly payment on their mortgage along with an annual lump-sum payment of $12,000…

Learn whether getting pet insurance is for you or whether you should open up a doggy or kitty savings account.

Q: Which is more important, credit utilization or credit-­to-­income ratio?
 Right now I earn $60,000 per year and have access to three credit cards with a combined limit of $20,000. I have no other loans or debts and my current credit score (based on a FICO calculator) is about 720. I ask, because I’m starting to look at buying a house, and want to know what lenders consider as a more important ratio? Also, is it possible to better my credit score by reducing my credit utilization (which I would do by cancelling one credit card or asking for a lower limit)?
— House hunter, Halifax, N.S.

Answer from Robert McLister, mortgage planner with Ratespy: A strong credit profile and reasonable debt ratio are equally important if you want the best mortgage rates and terms.
Let’s start with credit first. People tend to overly focus on the credit score. It’s important, yes, but lenders don’t stop there. They scrutinize your payment history, unpaid debts, total debt load, number of open debts and age of accounts, to name just a few…

Tesla Model S (Photo By John Leyba/The Denver Post via Getty Images)
On Thursday, Tesla Motors unveiled its latest car, the $35,000 Model 3 sedan: the first truly affordable all-electric car capable of going zero to 100 kph in under six seconds.
By the time CEO Elon Musk took the stage at Tesla headquarters in Hawthorne, California, crowds were already lining up to place their pre-orders. As of Friday morning, more than 134,000 people have placed their US$1,000 (that’s about CAD$1,300) deposits.
Admit it, you want one too.
The first Model 3s are due to ship at the end of 2017. During his presentation, Musk said, “I do feel fairly confident it will be next year.” If you note a hint of hedge in that statement, that’s because there might be. Tesla has a history of missing deadlines. Before we all break out the credit cards, here’s a quick look at the Model 3 by the numbers:
Base Price: US$35,000
That’s higher than the similarly all-electric Nissan Leaf (at $29, 010) but lower than the BMW i3 (at$42,400)…

Correct negative thoughts that damage self-esteem and discover you love the body you have—even during bikini season.

Temperatures are rising – and that means open houses are popping up in markets across Canada. It’s one of the most competitive times to buy a home – so be sure you’re prepared if you plan to jump into the fray.
Brush up on your mortgage know-how this week with tips for saving for a down payment, improving your credit score – and understanding the current state of the market.
Saving for a Down Payment
Are you planning to buy a home? You’ll need to shell out for at least part of your purchase up front. Saving for a down payment is an important part of the home buying process – and the size of your down payment can even impact how much of a mortgage you qualify for. Here’s how to effectively save while hunting for your dream home.
Read Penelope’s Blog | Saving for a Down Payment
Liberals to Assess Foreign Real Estate Investment in Canada
The Canadian federal government wants to take a closer look at the extent of foreign ownership of real estate across the nation – but critics are saying their efforts won’t go far enough…

On the surface of things, Lindsay Tithecott would seem the financial envy of most millennials. The 29-year-old engineering consultant from Kamloops, B.C., earns $71,000 annually, owns an affordable $150,000 condo and already has $46,000 of investments amassed in her RRSP and TFSA. To be sure, Lindsay’s very proud of her accomplishments: “I’m saving 20% of my salary and my housing costs are just under 30% of my income, which is nearly unheard of in B.C.” There’s just one problem: Her spending surpasses her income every month, and she’s piling up significant consumer debt. Right now, Lindsay owes $11,000 on her line of credit as well as a separate $15,000 car loan. “I try so hard to achieve financial balance in my life, but it doesn’t seem attainable,” she says. “I don’t understand what I’m doing wrong.”
Lindsay feels she has her savings under control, noting that she’s currently socking away $400 a month to her TFSA and $220 a month to her RRSP (an amount her employer matches) to achieve her goals…

March 2, 2016: The average credit card interest rate stayed put Wednesday at 15.16 percent, according to the CreditCards.com Weekly Credit Card Rate Report.

We can take a bit of a breather today compared to yesterday!News, Tips & TricksRewards Canada reader David alerted us to this disappointing change in the Petro-Points program. As of April 1st you’ll no longer be able to redeem Petro-Points for Cathay Pacific Asia Miles! This comes just as we were working on an Ultimate Asia Miles Credit Card portfolio as the CIBC Petro-Points card is a decent Asia Miles earner. We haven’t talked very much about this partnership on the site (we do list it on our Airlines you can earn miles with Canadian Credit Cards chart) but we are sad to see this option go. Also leaving the program on that day are the Canadian Cancer Society donations and Digital Media Rewards. Find out more here.Hyatt announced the launch of new brand of hotels for their portfolio. The Unbound Collection by Hyatt will be a group of independently owned hotels that will benefit from Hyatt brand management and the Gold Passport program while providing Hyatt a chance to grow their presence without building, owning and operating additional hotels…

Always conducted a new survey to discover if emojis reinforce negative stereotypes about women and girls. Check out the findings!

MOSCOW – The Bank of China will give Gazprom a 2 billion euro ($2.2 billion), five-year loan, the Russian state-run energy company’s largest loan agreement from a single credit institution.
In a Thursday press release, Gazprom said this is the company’s first loan deal with the Bank of China.
Driven by China’s growing energy needs, Beijing has been investing tens of billions of dollars abroad to help other countries develop their natural gas resources that can then be exported to China.
In May 2014, the state-owned China National Petroleum Corporation signed a $400 billion contract to buy natural gas from Gazprom over 30 years.
Gazprom, a state-owned oil monopoly, has been hard hit by Western sanctions, which tightened the terms and restrictions on loans from Western lenders to the company.
The post Gazprom and Bank of China sign 2 billion euro, 5-year loan appeared first on Canadian Business – Your Source For Business News.

They crop up on your credit report when a lender has a ‘prescreened’ offer for you, but don’t directly impact your score

Feb. 17, 2016: The national average annual percentage rate remained near a record high Wednesday, according to the CreditCards.com Weekly Credit Card Rate Report.

Millions favor one credit card for a decade, and some never switch, passing up potential rewards, according to a new CreditCards.com survey

Learn how to recognize if your friend is in an unhealthy relationship and discover ways to support her.

Just like the Iberia, British Airways, Singapore Airlines, Turkish Airlines and airberlin Accor stay offers that have been posted to the Rewards Canada bonus offer pages, there is now one for Aeroplan that offers up Triple miles for all stays and a chance to win 80,000 more Aeroplan Miles!Offer Details Triple Aeroplan Miles for stays at over 2,800 Accor Hotels Worldwide. Plus each stay enters you for a chance to win 80,000 Miles. Select automatic conversion to convert your Le Club AccorHotels points into Aeroplan Miles in your Le Club AccorHotels account preferences. Full Details & Online Booking Until Apr 20, 16

(iStock)
Jin Won Choi // 32 // London, Ont.
TFSA: $70,474
Investment strategy: Flexible and opportunistic
You may remember Jin Won Choi, a software developer with a Ph.D in mathematics, from our TFSA contest winners a year ago. Jin came in fifth in 2013 with a TFSA total of $50,876. And even though he now has $20,000 more than last year his ranking has slipped to sixth. “This year the stock markets were much more volatile and I had to do some creative things to boost my returns.”
Although Jin has invested in blue-chip and small-cap stocks, he’s had the most success with micro-caps—those with a market capitalization of $50 to $300 million. But he changed his strategy in 2014. Believing that the bull run of the last five years was due for a correction, Jin bought put options—contracts that allow the holder to sell a specified amount of stock at a set price within a specified period. (Buyers of put options believe the underlying stock will drop in price.) Jin bought put options on several holdings, including iShares S&P/TSX 60 Index Fund (TSX: XIU), which tracks large-cap Canadian stocks, as well as on a couple of banks and energy stocks…

Nearly 850,000 Canadians rely on food banks every month, according to HungerCount 2014, Food Banks Canada’s report on hunger and food-bank use. Here’s how you can help.

CBC.caCritics label schools announcement as blatant byelection ployCalgary HeraldTheir string of campaign announcements, backed by all the cash, staff and facilities at the disposal of a 43-year-old government, reached a thunderous crescendo Wednesday with the promise of 55 more new schools, and 20 modernizations. Premier Jim …Jim Prentice announces $2B investment in Alberta's schoolsCBC.caAlberta government announces 'massive' $2B school package, new facilities for …MetroNews CanadaNew schools announced for AirdrieAirdrie EchoSun News Network -CTV News -iNews880.comall 60 news articles »

Sears Canada stock plunged by eight per cent and U.S. parent Sears Holding Corp. was down by 15 per cent after reports that a vendor had stopped shipments to U.S. stores.

Sean Kilpatrick/CP
“No plan of battle survives first contact with the enemy,” observed 19th-century Prussian strategist Helmuth von Moltke. Risk, loss and uncertainty are fundamental to every military endeavour. Canada’s six-month mission against Islamic State, as approved by Parliament this week, will be no exception.
In sending six CF-18 fighters, two surveillance aircraft and a refuelling tanker to participate in the U.S.-led coalition against Islamic State, it is possible Canada’s contingent of pilots, advisers and support crew will suffer casualties. There will be an obvious financial cost to be borne as well, although the exact size cannot be known with certainty. Participating in such a direct fashion may also make our country a target in the future for other radical Islamic terrorists.
There are many other important, but equally unanswerable questions, about Canada’s mission to the Middle East. Will Islamic State prove as difficult to dislodge from Syria and Iraq as the Taliban were in Afghanistan? Will it be possible to replace its putative caliphate with stable and coherent governments? How many civilians will die as a result of Islamic State targets being bombed? Is airpower sufficient to eliminate the threat of radical Islam? Will the mission need to be extended six months hence? The proper response to all such queries: We simply don’t know…

BRAMPTON, Ont. – Choice Properties Real Estate Investment Trust (TSX: CHP.UN) says it is acquiring 16 properties from Loblaw Companies for approximately $211.9 million.
The REIT, which was spun off as a separate business last year by Loblaw (TSX:L), said Wednesday the purchase includes 15 retail properties and one warehouse located across the country.
With this acquisition, Choice Properties’ portfolio of properties consists of 472 properties primarily focused on supermarket-anchored shopping centres and stand-alone supermarkets. It principal tenant and largest unitholder is Loblaw, Canada’s largest food retailer.
The post Choice Properties REIT buys 16 Loblaws properties for $211.9 million appeared first on Canadian Business.

Financial expert, Marc Saltzman, shares five easy ways you can protect your online financial information.

With a federal election looming, a promise made by the Conservative government could prove costly for the provinces. During the 2011 election campaign, the Conservatives promised to allow income splitting in 2015 if the federal budget was balanced. With a balanced budget expected shortly, the Tories are mulling over following through with their election promise as a way to entice voters.
Also read: What is Income Splitting?>
How Income Splitting Would Work
Income splitting isn’t something new to Canada; it already exists, but its use is limited.  The Pension Income Tax Credit and Spousal RRSPs are a couple of examples of how retirees use it.
The Conservatives are looking to introduce income splitting on a larger scale,with the intention of benefiting families with children under the age of 18. In their 2011 election platform, the Conservatives said income splitting would allow them to divvy up their incomes to a maximum of $50,000. This would reduce their marginal tax rate and result in a lower bill to the taxman…

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Businesses and investors pressing for green policy
NEW YORK (AP) — Hundreds of corporations, insurance companies and pension funds are calling on world leaders gathering for a U.N. summit on climate change this week to attack the problem by making it more costly for businesses and ordinary people to pollute.
The idea, long advocated by policymakers, economists and environmental activists, is that the world can’t hope to slow the heating of the planet until its cost is incorporated into the everyday activities that contribute to it, such as using gas- or coal-generated electricity, driving a car, shipping a package or flying around the globe.
Business leaders representing trillions of dollars in revenue and retirement savings say they worry that global warming threatens the long-term value of their investments, and they want world leaders to adopt policies that would provide a financial incentive to people to clean up their act.
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Affluence eludes poor crowding into Asian cities
JAKARTA, Indonesia (AP) — Down a concrete path, between rail tracks that buzz with each approaching train and a river choked by plastic and raw sewage, Asih Binti Arif cradles her baby and reflects on dreams gone dark…

A U.S. federal judge in Texas ordered Bitcoin Savings and Trust and its owner to pay a combined US$40.7 million after the Securities and Exchange Commission established that the company, which sold investments using the virtual currency, was a Ponzi scheme.

Getty Images
TORONTO – Soured by problems with the bank he had been using for years, Johnny Hollick was looking for a good reason to take his money elsewhere, and a free iPad seemed like the perfect incentive.
One of the other big Canadian banks was offering the tablet device — an incentive used by some big financial institutions to attract new customers — but Hollick said in retrospect he shouldn’t have been enticed by fancy electronics.
“I do regret it,” the Toronto resident said. “If I could go back in time, I wouldn’t have done it.”
Hollick was switching banks because he was dissatisfied with the customer service. It’s a common complaint, but financial advisors say there are more important considerations to make before you pack up your longtime savings and migrate to a new financial institution.
Uprooting your accounts can be an arduous task and without the proper planning it can actually cost you money, with expenses ranging from break fees associated with mortgages to losing interest by cashing out certain investments early…

When it comes to saving for a child’s education, there are many savings options available to you including non-registered accounts, Tax-Free Savings Accounts (TFSAs) and Registered Education Savings Plans (RESPs). Arguably, each type of investment vehicle has its own merits.

A few months ago I got an email from a reader stating something to this effect:
Hello again, here is something you probably already know, the management fees recorded on most Exchange Traded Fund (ETF) sites is NOT the same as the MER, in some cases, not by some lot. I own shares with most of the providers, but do feel the industry should be OBLIGED to report the total MER and not just the management fee.  To cite some examples, XEI by Blackrock has the 0.20% management fee posted on their website whereas Morningstar reports the XEI management expense fee as 0.61%. The Vanguard funds and site seems clearer to investors.  For example, Vanguard Canada reports both management fee and management expense ratios for their ETFs.  On some sites I find it is almost impossible to find what the products actually charge investors. Perhaps you could do a story on this?  I think the MER is key, thanks!
Thanks to this reader for raising this issue with me.  I agree; more transparency but also more consistency is needed when it comes to financial product reporting…

This GIC rate is offered by Oaken Financial and was updated on 2014-06-06. Click on the link above to get more details or apply online.

When it comes to saving for a child’s education, there are many savings options available to you including non-registered accounts, Tax-Free Savings Accounts (TFSAs) and Registered Education Savings Plans (RESPs). Arguably, each type of investment vehicle has its own merits.

Birthday gifts can be a great way to help ensure that a child’s long-term wishes really do come true.

This GIC rate is offered by DUCA Financial Services and was updated on 2014-07-12. Click on the link above to get more details or apply online.