In this economic down turn, how do your family expenses fare with respect to other families? Do they spend less? Does the expenditure actually go up due to price increases? Below is an updated version of mean monthly family expenses for all provinces and territories in Canada during year 2009. Family Household Expense: Year...
Statistics Canada released a new report this September on average family income for year 2008. Families included in this report refer to couple families, with or without children, and lone-parent families. Once again, families in Alberta earn fairly well, ahead of other provinces. However, the statistics is based on info prior to the recent...
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 with me and the readers. Sadly, people in Canada don’t like to share their thoughts, I suppose. I know a lot of people come to...
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...
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 items sold, and amount of money made? Here are some creative ways and fast secrets to increase your sale and profit from your yard sale...
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...
The other day I posted an article on Average Annual RRSP Contribution in Canada for Year 2007. The maximum RRSP contribution limit was $19,000 for year 2007; however, the national median contribution that year was only $2,780. Because of such a huge discrepancy, I decided to do a search on how much an average...
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...
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