Monthly Archives: June 2010

Yesterday we asked the question: Where Does Your Money Go? It’s amazing to analyze your spending to see where you actually spend your money. If most of your spending is done with a credit card or a debit card, you don’t need to make a list; you can simply produce… Read more

It is impossible to deal with money problems unless you start by learning where your money goes.  How can you cut expenses if you don’t know what you spend? For the next month, write down every dollar you spend. Then, at the end of the month, look at your list. … Read more

We have discussed why Tax Free Savings Accounts are a good idea: you can save taxes; it’s harder to get at your money, so you are more likely to not be tempted to dip into your savings; and future income from your TFSA will not impact your eligibility to receive… Read more

In our last three tips we have discussed why Tax Free Savings Accounts are a good idea: you can save taxes; it’s harder to get at your money, so you are more likely to not be tempted to dip into your savings; and future income from your TFSA will not… Read more

Yesterday we explained the second reason why a Tax Free Savings Account is a good idea: they make it more difficult to get at your money, so you increase your chances of building your savings. Another good reason for starting a TFSA is that any savings you accumulate and then… Read more

Yesterday we discussed why Tax Free Savings Accounts are a good idea: with a TFSA your savings grow tax free.  With no taxes to pay, your savings grow faster. The second reason why a Tax Free Savings Account is a good idea is that it’s a great way to “hide”… Read more

First, what is a tax free savings account?  According to the Canada Revenue Agency TFSA website: Since January 1, 2009, Canadian residents who are 18 years of age or older with a valid Social insurance number (SIN) are eligible to contribute up to $5,000 annually to a TFSA. The initial amount… Read more

Your local gas company is happy to rent you a hot water heater.  They tell you that if there is ever a problem with the hot water heater, they will replace it at no charge to you.  Eventually all hot water tanks spring a leak, so free repairs sounds like… Read more

Collection agents are paid to collect money.  That’s their job.  If all they had to do was phone people and ask for money, and everyone paid them immediately, they would be the nicest, friendliest people in the world. But obviously very few people send money to collection agents, so they… Read more

In our tip on how to talk to collection agents we said to Tell, Don’t Discuss. Collection agents are trained to ask questions, but you don’t have to answer any question to you don’t want to answer.  That’s why you have more power than you may think. If they ask… Read more