TFSA vs RRSP, Which Is Better?
Feb17

TFSA vs RRSP, Which Is Better?

Registered Retirement Savings Plan (RRSP) : A Registered Retirement Savings Plan (RRSP) is a type of Canadian account registered with the Canada Revenue Agency / CRA (usually by a financial institution) for holding savings & investment assets in order to promote saving for retirement.  Contributions are subject to certain restrictions and limitations set out in the Canadian Income Tax Act. A tax credit is also given for...

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Are RRSPs Really Beneficial?
Feb09

Are RRSPs Really Beneficial?

As we enter February, the RRSP (Registered Retirement Savings Plan) season begins to heat up.  Various financial institutions and mutual fund companies kick their marketing campaigns into high gear prior to the the March 1st RRSP deadline, in what is generally the most successful month of the year (in terms of new money flowing in).  However, most campaigns ignore our individual goals & tax situation, and entice us to blindly...

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10 Holiday Shopping Tips To Give Like Santa But Save Like Scrooge
Nov25

10 Holiday Shopping Tips To Give Like Santa But Save Like Scrooge

Here are 10 shopping tips that I personally use, which will help you save a considerable amount of money buying gifts, without having to give less. Most people are very generous during the holiday season as they naturally want to show thanks & appreciation to their friends & family by getting them something nice for Christmas.  But when January arrives, there is anxiety about the size of the credit card statement. During the...

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Beware The Direct Energy Rewards Program!

The boys at Direct Energy (DE) have been busy with another “Gotcha” bear trap.  This one is not only aimed at catching new customers, but also trapping current customers.  I present to you, the Direct Energy Rewards Program, which they are pushing many current DE customers to enroll into.  Enrollment for non-Direct Energy customers also requires signing a Direct Energy water heater rental contract.  For existing customers...

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Personal Finance III – Practical Steps

This series of personal finance articles take a different perspective than what you would ordinarily find on blog and other sites related to the topic.  The first article in this series [Personal Finance I, The Essential First Step To Investing] discussed the importance of personal finance, as the first step to investing.  It discussed how a solid foundation (skills, knowledge, mindset, attitude, and other qualities) is important to...

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Personal Finance II, Getting Started

Too often people skip getting their personal finances in order, and jump right into learning about investing.  In the last article [Personal Finance, The Essential First Step To Investing] we discussed why it is the necessary prerequisite to investing. We saw how it shared many similarities, and also creates a solid foundation of skills, knowledge, mindset, attitude, and other qualities that are required before learning to invest....

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