Saving Strategies

Things You Should NOT Pay for

Things You Should NOT Pay for

Number 1: Bottled Water Why spend more money on bottled water, while tap water straight from home is just as good or sometimes even better? Although tap water is not exactly free (since you do have to pay an annual utility fee to local government for water service), it’s way cheaper than bottled water....

Read more »

Home Buyers’ Plan (HBP) – how to maximize this plan

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 Buyers’ Plan (HBP) allows first-time homebuyers to withdraw RRSP to purchase or build a home without having to pay tax on the withdrawal. RRSP...

Read more »

7 Tips for Effectively Cutting Down Grocery Bills

Seven Highly Effective Tips for Savings at Grocery Store Here are a few strategies that I implement every day to reduce my monthly grocery expenses, which include not only the groceries but also expenses for dinning-outs, personal/household hygiene stuff, and occasionally over-the-counter medication. Keep track of receipts. First and foremost, keep all the receipts...

Read more »

IPP – Supersize Your Retirement Savings

Many Canadians have seen their RRSPs take a significant toll in the markets during this Global Recession. Most can do little more than hope for a quick recovery. But there is another option. It’s called Individual Pension Plan (IPP). What’s IPP? IPP stands for Individual Pension Plan. It is perhaps the least known, yet...

Read more »

Cars that can save you money

Cars that can save you money

Here is a list of cars that may save you some money. Most of them are hybrid cars which offer great mileage. With recent dropping in gasoline price, the long-term savings from mileage may not be obvious. In addition, hybrids may be more expensive to fix when they break down. The maintenance frequency and...

Read more »

Unclaimed Bank Balances – could be your money?

Turn unclaimed bank balances into your savings! Perhaps this happens to one of your deceased family members. Unclaimed Bank Balances An “unclaimed balance” can be in the form of a deposit account, bank draft, certified cheque, deposit receipt, money order, GIC, term deposit, credit card balance, or traveller’s cheque. When there has been no...

Read more »

How to Calculate RRSP Contribution Room

How to Calculate RRSP Contribution Room

How is RRSP Deduction Limit / Contribution Room Calculated? Long Definition: a taxpayer’s RRSP deduction limit for a year is equal to 18% of the taxpayer’s earned income for the previous year (to a maximum amount) minus an amount in respect of benefits that accrued to the taxpayer under registered pension plans (RPPs) and...

Read more »

Feature Story

How Much Do First Nations Chiefs Make Annually across Canada?

Chief Ron Giesbrecht in BC took home almost $1,000,000 INCOME TAX FREE! His band has a population of only 82!!! Chief Jim Boucher in Alberta claimed an annual salary of...

Read more »

Top Financial Stories

How Much Do Tim Hortons Owners Earn Annually?

Tim Hortons store owner pockets each year: $265,558 and more (after tax & interest)!!! In year 2002 for an average Tim Horton's outlet: Gross earning: $1.5Million...

Read more »