Weekend Reading: Canada Child Benefit Edition

Happy Canada Day weekend! We spent Friday exploring the beautiful Waterton Lake area and took a boat cruise across the International border to Goat Haunt, Montana.

Canada and the U.S. have an interesting way to separate their borders along the 49th parallel – by clearing a section of forest 10 feet on either side of the dividing line:

Canadian-U.S. border - Waterton

Canada Child Benefit

This month the federal government will officially replace monthly UCCB and CCTB payments with the new Canada Child Benefit, a tax free monthly payment for parents with children under 18 years of age.

The first CCB payment will be made on July 20th and parents can use Canada Revenue Agency’s child and family benefits calculator to determine their monthly payment amount.

The government claims 9 out of 10 Canadians will receive more money under this program and that is certainly true in our case as we’ll receive an estimated $115 more per month than we did under the previous program (and, it’s tax-free!).

T.E. Wealth has compiled 4 key planning points to consider with the new Canada Child Benefit. It’s definitely worth a read.

This Week’s Recap:

I reached out to seven travel experts to answer a very specific question from a reader: How would you spend 52,436 Aeroplan miles? Check out some of the great tips and advice on how to make the most of your travel points.

On Monday I described the right way to calculate net worth. Look for my mid-year net worth update tomorrow.

On Wednesday Marie continued her series on financial planning for couples with a look at how couples should deal with debt.

And on Friday I talked about Brexit and the impact it has on your investment strategy (hint: none).

We’ve put together a free eBook on how to manage your money at any age and stage – from teen years all the way until your 70s. Click here to download your free copy.

Weekend Reading:

The youngest employee in a 50-person department dishes some straight-talk to Millennials on retirement.

This Quartz article argues that the myth of Millennial entitlement was created to hide their parents’ mistakes.

Kyle Prevost from Young & Thrifty put together a great resource with the complete guide to Canada’s best online banks.

Tangerine launched its Moneyback credit card this year and has opened over 75,000 credit card accounts. Here’s an in-depth Q&A with Scott Lapstra, Tangerine’s head of credit cards.

Can the marriage between a saver and spender possibly last? Rob Carrick and Leslie Scorgie explain how to get on the same page:

What are these new financial regulations everyone is talking about? Wealthsimple explains everything you need to know about CRM2.

In addition to CRM2, Canadian regulators are also looking at the possibility of banning mutual fund trailer fees as early as this fall.

The Economist describes the slow-motion revolution and why the rise of low-cost managers like Vanguard should be celebrated.

Morgan Housel explains what to do when stocks give you nothing.

Mark Seed looks at the crossover point for investors – or when your investment income meets or exceeds your monthly expenses.

Jason Heath with some great advice on RESP investing for your teenager.

Jon Chevreau on how he retired at 60 without ever being rich.

How to pass on the family cottage without destroying your family in the process.

Nothing to see here. The mortgage industry says there’s no housing bubble in Canada.

B.C. Premier Christy Clark says the government is ending self regulation for the B.C. real estate industry:

“The real estate sector has had 10 years to get it right on self regulation and they haven’t,” said Clark

Finally, as home prices climb, taking 30 years to pay off mortgage is becoming new norm in Toronto and Vancouver.

Have a great weekend, everyone!

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