Posts by Robb Engen
Three Ways To Save Money On Your Family Vacation
Taking a family vacation can feel more like work than a holiday when you have two kids under the age of four. Still, I think it’s important to get away from our routine every few months, even if it’s just for a short trip. Last week, after packing what seemed like the entire contents of…
Read MoreShould You Get A Fixed Or Variable Rate Mortgage?
Whether you’re buying a home or looking to renew your mortgage, you’ll need to choose between a fixed or variable rate mortgage. That choice has become more difficult lately as the spread narrows between fixed and variable rates. Ever since prime rate bottomed out at 2.25% back in April 2009 most of us predicted interest…
Read MoreWeekend Reading: Switch And Save Edition
I’ve written a lot about using a cash back credit card to earn some money back on your everyday spending. But it isn’t very smart to use a rewards credit card when you’re struggling with credit card debt. Think about the 1 or 2 percent you’ll earn on your spending versus the 19 or 20…
Read MoreHow To Bank When You’re Living Paycheque To Paycheque
Nearly half of Canadians are living paycheque to paycheque. A recent survey by the Canadian Payroll Association found 47% saying they would face financial hardship if their pay was delayed as little as one week. Living Paycheque To Paycheque One of the easiest ways to save money is on your bank fees, but it can…
Read MoreRRSP Portfolio Update 2013
I’ve spent a few years dithering about what to do with my RRSP, but since my income has increased over that time I can no longer ignore the tax advantages of making RRSP contributions. After only contributing $1,500 to my RRSP in 2011, I’ve added $5,000 in 2012 and another $5,100 during the first 60…
Read MoreOn Job Security And Preparing For The Worst
The funny thing about job security is that everyone thinks they have it until they don’t. Most of us can’t imagine a scenario where we’ll get laid off until something unexpected sneaks up on us. In 1993-94, Alberta Premier Ralph Klein set out to eliminate a provincial debt of $23 billion. I was only 14…
Read MoreMy Biggest Home Buying Regret: Getting In Over My Head
I’ve made a lot of money mistakes over the years. One of my biggest regrets was getting in over my head as a first time home buyer. It was 2003 and, although the real estate market had been stagnant for years, the Alberta housing boom was about to begin. Getting in over my head The…
Read More3 Credit Card Products You Should Avoid
Credit card companies try to get you to sign up for secondary products and services, often forms of insurance or new and convenient ways for you to get at your credit and use it. These services are lucrative for the card issuers, but are not in your best interest. Here are three credit card products…
Read MoreWhy I Cancelled My MBNA Smart Cash Card (And How They Tried To Keep Me)
When TD bought MBNA’s credit card portfolio I knew it spelled trouble for my favourite cash back credit card, the Smart Cash card. Sure enough, about a year later, MBNA announced some pretty drastic changes to limit the amount of cash back you could earn with Smart Cash. Related: MBNA Smart Cash MasterCard Review So…
Read MoreCan You Succeed With An All GIC Portfolio?
Conventional wisdom says that when it comes to investing for retirement your exposure to equities should equal about 100 minus your age. That means a 30-something should have up to 70 percent of his or her portfolio in equities to help maximize investment returns over time. Related: Building Your Investment Portfolio As you get older…
Read More