Simplicity is the ultimate sophistication. ~Leonardo DaVinci When the Tax Free Savings Account was introduced in Canada in 2009, it was hailed for its practicality and simplicity. Any Canadian 18 years or older can now contribute up to $5000 per year to a TFSA and have those savings grow completely tax free. While TFSA contributions…
Starting today, there’s a new financial resource for Canadians out there. It’s called Finizi. Basically, Finizi is a free online service that allows financial institutions to compete for your business. At this time they are only offering GICs, but there are plans in the works to offer competitive bidding on rates for car loans and…
What exactly is the function of the financial sector in our society? Simply this: Its sole function is supplying capital efficiently to aid the real economy. The financial sector is a tool to help those that make real tools, not an end in itself. But five fatal flaws in the financial sector’s current structure have…
The test of a first-rate intelligence is the ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function. ~F. Scott Fitzgerald Update: Thanks to Arjun at Investing Thesis for including this article in the Canadian Personal Finance and Investing Carnival #16. Very few topics elicit…
It’s not that I’m so smart, it’s just that I stay with problems longer. ~Albert Einstein Last week our electricity meter was taken out and replaced with a smart meter. I live in Ontario, the first Canadian province to install smart meters for all homes and small businesses. The program has cost about $1 billion…
Money often costs too much. ~Ralph Waldo Emerson Update: This article was included in the 13th Canadian Personal Finance and Investing Carnvial posted at Investing Thesis. Thanks! As if earning enough money to live wasn’t hard enough, we have to figure out a way to put enough aside for the days when we are no…
To decide is to walk facing forward with nary a crick in your neck from looking back at the crossroads. ~ Betsy Cañas Garmon Update: This article was included in the 279th Carnival of Personal Finance – 80s Music Edition posted at Dough Roller. Thanks! I’ve received a couple of questions from readers on how…
Nothing diminishes anxiety faster than action. ~Walter Anderson, The Confidence Course, 1997 Update: This story was included in the Carnival of Money Stories #74 posted at Sustainable Life Blog. Thanks! When we had our home built 7 years ago, we went with a rental for our hot water heater. I realize now that this is…
