Archive for October 2015
Weekend Reading: Happy Thanksgiving Edition
This week Tangerine unveiled details of its long-awaited first credit card; the Tangerine Money-back card. Expected to launch in early 2016, this no-fee MasterCard will offer 2 percent cash back in two spending categories of your choice, and the option to have your cash-back deposited into a Tangerine Savings Account to unlock an additional 2 percent category.…
Read MoreA Conversation About Gen Y Money
The plight of Gen Y is a hot topic around the personal finance blogosphere these days, and for good reason. Millennials continue to face strong headwinds from an economy that has been stuck in neutral since the global financial crisis of 2008. Meanwhile, the cost of higher education is soaring and new graduates are entering a…
Read MoreFinancial Management By The Decade: Teen Years
When I was about thirteen, I started earning extra money by babysitting the neighbourhood kids. My 35-cents-an-hour earnings were then promptly spent – probably on chocolate. Teens are a lot savvier these days. Younger teens are babysitting, dog walking, doing yard work, setting-up computers and software (for people like me) and the like. Older teens…
Read MoreThe Worst Financial Advice Ever Given To Millennials
It’s okay to spend money on life’s indulgences once in a while. If a daily latte or weekly visit to the spa floats your boat, I say go for it. When you design your budget around the things that are important to you – while cutting out the things that aren’t – then your splurging actually…
Read MoreWeekend Reading: Succession Planning Edition
Earlier this week, Million Dollar Journey blogger Frugal Trader wrote a letter to his wife explaining how their finances work in case he passes away and she needs to succeed him as the household CFO. It’s an interesting topic, and one that former Boomer & Echo correspondent Sandi Martin covered here last year. Although his wife has little-to-no…
Read MoreUnderstanding Your Retirement Benefits: Part 3 – Private Pension Plans
According to Statistics Canada, in 2012 38.4 percent of employees were enrolled in a Registered Pension Plan. The most common types of pension plans are defined benefit (DB) and defined contribution (DC). Of those employees, 71.5 percent were in a defined benefit plan. Defined contribution plans accounted for 16.7 percent. (The remainder belong to some…
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