I’m wondering if anyone gives money to their parents regularly. My parents currently at the ages of 60’s have retired ten years ago with very little savings, so I give them CAD$5000 (Canadian dollar) each month. I feel obligated to provide monetary support to them, because it’s my responsibility. My parents spent all their money... »
Latest Story
Switzerland topple USA as most competitive economy
Swiss beat USA in economy? I’ve never thought a small country will take over USA as the most global competitiveness. The first one on my mind to beat USA is Japan. Canada ranks No. 9. Not bad, not bad. Rank... »
My Networth: August 2009
Am I excited to calculate my networth again, since last month’s financial statement? No! I don’t think it will get better. As you can see, my income tax and CPP tax combined are already $52,000 as of today (not even counting the income for... »
Line of Credit: prime rate, base rate, variable rate
Recently, I went to Bank of Montreal to apply a line of credit. I thought the prime rate was pretty low currently at 2.25%, so perhaps it would be... »
Tax Free Shopping Days?
Our fellow neighbour enjoy tax-free shopping days. Some states are waiving local sales tax on school items like computers and clothing, as indicated on Yahoo! Shopping. How come we don’t... »
Average Monthly Household Grocery Bill
About three months ago, I posted an article on Average Monthly Grocery Bill. I was hoping people would comment on that article, sharing how much they spend on grocery... »
Home Buyers’ Plan (HBP) – how to maximize this plan
Before we begin this topic, we will briefly discuss how HBP works. Then we will talk about how to maximize this tax-saving strategy toward the end of this article. Home... »
My Networth: July 2009
I got my cheque for July. After finishing my accounting, the result does NOT look very good. Overall Assets: +11% (down from +21% ) Liabilities: +2% (up from... »
How to Host the Perfect Yard Sale
Summer is here. Guess what…it’s time for garage sale. How do you turn your junks / clutter into cash efficiently and effectively, in terms of customer number, percentage of... »
RBC VISA TFSA Reward – is this cashback feature worth your points?
Last month, when I received my RBC VISA card monthly statement, I saw an advertisement about redemption of RBC Rewards points toward TFSA. Seems very interesting, but is it... »