I have a guest post today at bankshout.com on High Interest Savings Accounts for Canadians. If you’re interested in some tips on Canadian banks that pay higher interest rates and online banking in general, please check it out!
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You’ve got a lot of choices. If getting out of bed in the morning is a chore and you’re not smiling on a regular basis, try another choice. ~Steven D. Woodhull Update: This article is featured in the Money Hackers Carnival #110 at Planting Dollars. Thanks! I recently wrote about how CDIC protection makes GICs one of the safest investments. Whether you decide to devote a substantial chunk of your portfolio to GICs, or just a small portion, it pays to think about how you want to allocate your GIC investments. Which terms should you buy? How much should you put into each? A GIC ladder might be just what you’re looking for. You can usually receive a better GIC rate than those offered by the big banks by consulting a deposit broker. It’s a good idea to make sure [...] Read on and enjoy … How to Ladder GICs Who can hope to be safe? who sufficiently cautious? Guard himself as he may, every moment’s an ambush. ~ Horace Update: Thanks to the Mighty Bargain Hunter for including this article in the Carnival of Personal Finance: Unanswered Questions Edition. You’re at a fork in the road. Which way do you go? We face decisions every moment of the day. Some are more important than others. Should I invest in stocks? How much of my money should I invest? Where will interest rates be this time next year? Where will they be in 5, 10, or 20 years? Should I buy or sell? Should I allow my child to do X? Should I stay or should I go? (Cue The Clashtune.) Unless you are clairvoyant, there’s no way to know for sure whether your decision will be the right one. [...] Read on and enjoy … Risk vs. Reward: The Ultimate Calculation Well, I finally capitulated on Twitter. I’ve never had anything against Twitter, or those who tweet. I just don’t get it. But I had no idea how to start a website a few months ago either and I did that. So, with a friendly nudge from Tom at Canadian Finance Blog, I joined a few days ago. I’m taking the “try it” approach that I advocated for financial wellness in my Green Eggs and Ham post. Yes, I’m what the marketing folks might call a very slow adopter. If you read Friday’s Book Review, I mentioned that I’m also a very slow reader. I’m a slow writer too. Come to think of it, I’m pretty slow at a lot of things. I’m not sure I like the intellectual connotations of the word slow, so I think I’m going to call myself deliberate instead. [...] Read on and enjoy … Balance Junkie on Twitter What many people don’t get is that making money is quite different than having money, and having money is not necessarily a static condition . . . you must keep it once obtained. ~ Danielle Park, Juggling Dynamite Update: This post is featured in the March 29th, 2010 Carnival of Personal Finance posted at Four Pillars. Thanks! This book came out early in 2007, before the worst of the financial crisis hit. Bear that in mind as you read it. And I do recommend that you read it. Many of the ideas expressed in the book were far from conventional just before the crisis hit. In retrospect, they might be considered quite prescient. I think they’re just as appropriate (maybe even more so) for today’s climate. Ms. Park is a Canadian money manager whom you may have seen on BNN [...] Read on and enjoy … Book Review: Juggling Dynamite The following is a guest post by Kevin Fleming. Kevin runs CreditShout, a personal finance blog dedicated to educating people on how to manage their finances and reviewing cash back credit cards. __________ First I would like to start off by saying that credit cards are only worth using if they are used responsibly. The methods I describe below will only work if you pay off your balance in full each month. Never carry a balance. You will end up paying more in interest than you will ever earn in rewards. If you pay off your balance in full each month, you pay nothing in interest which allows you to really reap the rewards that some of these cards offer. With that said, there are three keys to effectively using your cash back cards. The first involves choosing a cash back card that rewards your specific buying behaviors. [...] Read on and enjoy … How to Effectively Use Cash Back Credit Cards and Maximize Rewards The safe way to double your money is to fold it over once and put it in your pocket. ~ Frank Hubbard Last week a reader asked a question about how to get started with online investing in Canada. I directed her to The Globe and Mail’s online brokerage review for details about the offerings of individual brokerages. I said I would try to write about some general issues to consider too, so here goes: What Type of Account Will You Open?Do you want to open an RRSP, RESP, TFSA, or just a regular brokerage account? Most of the larger brokerages will offer all of these, but double check to make sure the broker you’re considering offers the products you need. Make sure you check out the fee structure for each type of account as well. Some brokerages will charge annual fees [...] Read on and enjoy … Online Investing: How to Get Started Prepare and prevent. Don’t repair and repent. ~ Author Unknown Update: This post is featured in the Carnival of Financial Planning – Edition #135 posted at The Skilled Investor. Thank you! I’ve mentioned emergency funds quite a bit but I’ve never given them the thorough treatment they deserve. I thought I would try an FAQ (Frequently Asked Questions) format to provide you with some information and options. What Is an Emergency Fund?An emergency fund is a reserve of cash that you set aside for unexpected expenses. This usually applies to things that break: your car, your appliances, your furnace or other items in your home – or maybe even an arm or leg. (Sometimes you have to pay for certain types of casts or splints.) You may also want to build an emergency fund to cover higher [...] Read on and enjoy … Emergency Fund FAQ |
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