What is a “Credit Score”? A credit score indicates the risk you represent for lenders, compared with other consumers. CREDIT SCORE STANDING 730+ Excellent 700-729 Good 670-699 Need a closer look 585-669 High risks -585 No credit / limited credit history There are many different ways of calculating credit scores. Two major Canadian credit reporting agencies, Equifax and TransUnion, use a scale from 300 to 900,... »
I just got my cheque today. Let’s see what’s been changed during the month June. Overall Assets: +21% Liabilities: -1% Equity: +55% In terms of assets, I’ve contributed my maximum RRSP limit for year 2009 which is $21,000. As such, I put the remaining money in high interest savings accounts. I don’t have any plan yet to... »
A few days ago, I found some information regarding medical doctors’ annual salaries in province BC—read here. Today I found a Canadian government site that includes average MD yearly salaries for all provinces in Canada: British Columbia (BC), Alberta (AB), Saskatchewan (SK), Manitoba (MB), Ontario (ON), Québec (QC), Nova Scotia (NS), Prince... »
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 and don’t... »
What’s an RRSP Registered Retirement Savings Plan is a retirement plan that you or your spouse or common-law partner establish and contribute to. RRSP contributions are tax-deductible;ie, it can be used to reduce your income tax. RRSP vs CPP Why should I invest in RRSP when I can get CPP (Canada Pension Plan) benefit at retirement? Reason: CPP... »
I checked my CPP Statement of Contributions just now. Sadly enough, I discover that I’m only eligible to receive a monthly retirement pension of $240, if I turned 65 this year and decided to receive CPP benefit. How am I supposed to survive with that petty amount. I spend about $200 each... »
Recently I’m curious about the average annual income for physicians in Canada. I mean how high can their incomes go? I did a search online but came across numerous results unsatisfactorily. Some websites use data that are decade old; some use data without any real statistics; some use data that are based on individual... »
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 most effective... »
Empty showroom in one of the several hundred dealerships Chrysler dealers as many as 788 dealers across USA are trying to dump inventory before franchise agreements expire on Tuesday. With less than 48 hours left, no wonder many dealerships are cutting prices down as much as 50% discount off MSP, like never happened before in... »