Canadian Personal Finance Blog

Archive for April, 2009

For those of you like me who have procrastinated about getting their Tax payment in today is the day in Canada (unless you want to pay interest and have the CRA come and look closer into your lives).

Go buy Quicktax and get it done!

Unemployment Car Insurance Discount?

I phoned up my Car Insurance company to tell ask a question or two about my insurance and to add my daughter who is learning to drive on to the policy. The second question asked was, “… are you still employed at…” to which I answered no I was not, which caused an interesting sequence of events.

1. Adding a driver who only has their G1 in Ontario with this insurance company costs nothing, because they are not allowed to be driving without another licensed driver in the car, so that was nice. When she gets her G2, then it is going to cost me some money, but that is a few months away.
2. Since I am no longer commuting to work (i.e. Unemployed) I get a $23 a year discount because I am not driving my car to work. Interesting!

I had not thought about (2) but they did have down on my policy that I commuted in my car to work, so the discount does actually make sense. If I return to work and drive there, the discount no longer applies, unless of course, I take the bus to work (in Ottawa that is a stretch, unless I am working downtown).

iPhone, iPod, Android and Blackberry Readers

If you fit that category go on over to my working site How Not to Make a Fortune on the Web, and try out the new theme for mobile users and tell me what you think. I am testing it over there and may bring it over here some time in the near future, if it seems to be working ok. It’s kind of slick and I like it, but I am also a very bad judge of what other folks like and dislike.

Not that the information itself is that surprising, given the unemployment numbers that have already been published, but another interesting question about how well funded the social safety net is funded. 

In February, the number of people receiving regular Employment Insurance (EI) benefits increased by 44,300 or 7.8% from January. Alberta, British Columbia, Ontario and Saskatchewan experienced the strongest increases.

Another obvious but interesting point is:

Regional data and data by sex and age on Employment Insurance are not seasonally adjusted and therefore should only be compared on a year-over-year basis.

Between February 2008 and February 2009, there was a larger increase in the number of men receiving regular benefits (+36.7%) compared with women (+20.6%).

More men than women getting on “the dole”? Not sure that is significant, but it does seem to be a topic that the media is harping on, about how this is a “Male Recession”, not sure I buy it, but it is an interesting point.

In previous years the government has used EI overruns as a crutch to help pay off debt, wonder what is going to happen now?

EI Claims Up Sharply

By Metropolitan Area

The Stats Canada report is quite thorough (as usual, but this table really does tweek my interest):

You might have guessed that Windsor might be taking a beating as well as around Toronto and such but Calgary is taking a beating too (for claimants at least). Kitchener and Vancouver’s numbers are quite concerning as well.

… to make the financial markets even more jittery. The WHO has now moved up their scale for the pandemic to 4 out of 6 and that may mean more jitters in the financial markets.

This will make for some very interesting trade decisions in the next few days, is my guess, since a lot of produce and such come from Mexico, will we see an embargo? Will this drive up food prices (which are already sky rocketing)? Inflation, did you order Inflation with your Global Financial Apocalypse? Sorry, it comes with the deal.

Kiss the Mexican tourism trade good bye for a while, not many folks will be wanting to go Loco down in Acapulco.

Swine Flu again? I’m sure Maple Leaf is deliriously happy to give consumers ANOTHER reason not to buy their products. Stay away from pig farms would be the best advice for now.

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Let’s hope this ill wind does not kill off any kind of rally.

Tax Day – 2

Yup remember Thursday at midnight you’ll need to have filed and PAID for your tax bill if you live in Canada. Not sure if they are giving Swine Flu dispensations yet, but get it done folks.

Server Issues Return

My site was down for a good portion of yesterday, my apologies to my readers, seems my server went down for the count, but I have been told that evidently the problem is resolved for now. Might have been Swine Flu in the disk drives, not sure.

As I will be traveling on the weekend, I have written this Best of post for my readers. It is one of my favorite stories about how my Father taught me about money.

You can find this story and other Favorites of mine on the Favorites tab at the top of this page.

Best Financial Advice Ever

My parents have been very helpful in my life, both financially, but also with very wise advice, and with that in mind, I’d like to share you a story my father told me (kind of a parable):

There once was a court jester who enjoyed a good joke, usually at the expense of the King, which got the Jester into deep trouble. One day the Jester was having a particularly “devilish” day and insulted the Queen in a large public forum. The King was OUTRAGED by this and ordered the Jester executed for his insolence and the guards dragged the Jester off to the dungeons.

Hours passed and the Jester (who was a quick thinking man) thought how can I get myself out of this mess? Finally the door to his dungeon opened and the guards dragged him back to the King. The King said, “I have enjoyed your buffooneries over the years, so I will give you one wish before I put you to death for your crimes.”.

The Jester thought what could he wish? Then he came up with a plan, he knew that the King adored his horses so he came up with the following, “Sire, all I ask is that you give me a year’s reprieve, and during that time, I will teach your horses to Sing! This will make you the envy of all other monarchs. If at the end of this year I am unable to get your horses to Sing you can execute me in any gruesome fashion you wish.”. The King looked perplexed and then confused, but finally he thought that he had nothing to lose, he would either be the envy of Europe or the Jester would be executed, either way was fine by him.

The guards then took the Jester towards the Royal stable, when one of the Guards asked the Jester, “Why would you make such an obviously impossible deal, surely you know no one can get a horse to sing?”

The Jester smiled and whispered to the guard, “Many things can transpire in a year my friend, I could die and thus I have cheated the executioner… the King could die and I might get a reprieve… or the horses could sing!”

My Dad told me this story after we discussed payments schemes for money he was loaning me to buy my first house. What was he telling me? I’ll leave that to you gentle reader, as usual with a story from my Dad, you get from it, what you think, not necessarily what he thinks you should.

Snow Tires -> Brakes

Remember when you take your car to get it’s snow tires off, be prepared to have your brakes checked out too. I forgot and had an unexpected bill on Friday. My brakes did need fixing (I am not commenting about my mechanic) but I wasn’t expecting the extra expense! Be prepared for unexpected bills as well. Better still have a car emergency fund for just this kind of expense!

Frank the Wrabbit is an interesting bit of animation from the NFB that can make you think and wonder about our financial industry.

Watch this animation and ask yourself does this story not sound familiar? Something like our current financial mess? Maybe not, but still an interesting little tale to enjoy on your weekend.

Would twere that we were all as smart as a Wrabbit, and even moreso, as quiet as one?

That one didn’t tickle your fancy, how about Special Delivery? This is an Oscar winner.