Canadian Personal Finance Blog

Archive for the ‘Random Thoughts’ Category

It’s a Mad House, A MAD HOUSE!!!

NB: You have to read that title like Charlton Heston is screaming it in a movie, to get full effect.

A weekend of Basketball Nirvana here in Ottawa begins, with NCAA March Madness games, and then slides into the CIS Men’s Basketball championships going on at Scotiabank Place. If you want to see basketball, Ottawa is the place in Canada to see it this weekend.

If you live in Ottawa and own a house you also better have paid your property taxes as well. Income tax season continues to roar ahead as well for we Canadians, but is that all we have to worry about? The Canadian dollar is almost at parity with it’s American Cousin, and our Gasoline prices are back to $1 per litre again, while our temperatures are more akin to May in Ottawa, not March. All in all a very interesting week here in the Nation’s Capital.

What do the Financial Bloggers have to say this week?

• Michael James shares his views on Hot Water Heater: Rent vs. Buy, which I witnessed first hand (OK I saw the end where the new water heater was in place). If this had happened to me, I am confident my basement would have looked like a scene out of Waterworld.
• Million Dollar journey got the geek in me all a quiver with their post Free iPhone Apps that Save You Money (Canadians), because even though I don’t have an iPhone, I do have an iPod Touch, and they work mostly on there as well. Quicken has a client for the iPhone as well, if you are part of the Quicken Cult.
• Preet at WhereDoesAllMyMoneyGo answers a Reader Question on Multiple RRSP Accounts, which points out that (A+B) * C is the same as (A * C) + (B * C), for those who like Math (but if C is Zero, then who cares?)
• The Canadian Capitalist points out that even in Index Funds you can have some “issues” say with Tracking error in TD e-series Funds, Part 1. This is of interest to me as I do own these funds, well worth a read.
• Larry MacDonald suggests that Economic lift-off may be delayed, due to the tight money policies in the states. True, but now that Canadian’s can buy American so cheaply, maybe Canada will kick start the American economy?
• The Canadian Couch Potato asks How Much Risk Do You Need to Take? which discusses the always interesting discussion about the balance you should have between fixed income and equities. You mean I shouldn’t have all my money in International Buggy Whip?
• Gail V-O points out that if you can’t live within your means, maybe you should Quit Your Unsustainable Life, but you already knew that didn’t you?
• Canadian Financial DIY asks, is Inflation at 4% to be the New Normal?, that would be nice, except then you can kiss big pay raises good bye too

Have a hoopy weekend.

CPI Numbers on Monday

Stats Canada will publish their Consumer Price Index today, but I will have my regular post about that on Monday.

The Grass has Riz?

In Ottawa, spring seems to be starting very early this year, with the second week of March looking more like the last week in April, but those of us who have lived here long enough know it is a little early to start thinking about taking off your snow tires. I will be keeping them on until the start of April, and even then, you never know.

Thoughts in Personal Finance

The financial bloggers had some thoughts for this week, which don’t reflect the weather, but still might help you get a spring in your financial step:

• Larry MacDonald wonders if those of us in Ontario show Buy Before the HST Hits? Makes me think I should get my new windows put in before July 1st.
• Michael James has been busy this week, being a proud Dad, watching his son win a Gold Medal at OFSAA, but he did have time to post a review of the book, The Investor’s Manifesto, which does have one great line in it: “…If you act on the assumption that every broker, insurance salesman, mutual fund salesperson, and financial advisor you encounter is a hardened criminal, you will do just fine…”, wow!
• The Couch Potato talks about The Ethical Couch Potato and whether ethical investing is a good idea or not. Ethics and making money are an interesting mix.
• Preet at WhereDoesAllMyMoneyGo has a guest poster talking about Going Bankrupt and Rebuilding Credit in Canada (this is a pointer to the first in a series of posts). Bankruptcy is serious business that is for sure (even in Canada).
• A re-vamped Canadian Capitalist talks about Auto & Home Insurance Premiums on the Rise in Ontario. The Capitalist is getting some folks saying he has “sold out”, me I wish him good luck and hope his new look works.
• Do you like to Talk Money with Your Honey? Evidently some folks don’t and this worries Gail Vaz-Oxlade a great deal (and I agree, money is the 800 lb. Gorilla in the corner nobody wants to talk about).
• Million Dollar Journey has a guest post that points out that Life’s Lessons Are Not School Chemistry Chapters and thus easily forgotten. Very true, hopefully we will all remember the valuable (if not painful) lessons we learned in this latest economic downturn.
• Video sedation should never be discounted in it’s value especially on long car trips (for children) and Four Pillars learned that when they purchased a Portable DVD Player to Amuse Kids on Car Trips. It’s a great idea, the only issue is, then kids expect movies everywhere, what do you do then?

Enjoy the budding trees, growing tulips and sprouting grass (and for those of us with seasonal allergies our daily dose of anti-histemines). Enjoy the weekend.

The Tories saying they are reviewing the lyrics of O Canada, while the economy is just recovering and the Government has blown more money than Paris Hilton on a shopping spree in Paris, is possibly either the greatest strategy ever, or the dumbest, I am not sure which. How many Canadians are worried that “… in all thy sons command…” is not inclusive, is more important in comparison to where the Economy stands, and the size of the national debt? I am sure there are some that are losing sleep over our National Anthem, but frankly it really doesn’t grease my wheels much (but then again, I have a son, and he is commanding, so maybe I am biased).

With glowing hearts we read many great postings this week written by the financial bloggers, from the true North strong and free. From far and wide we searched to find those posts that stood on guard for us, and here are a few of them:

• Michael James looks a gift horse in the mouth, and finds a few rotten teeth, in his post Overpaying for “Free” Life Insurance. I guess we should figure out whether “free” is too expensive for us.
• Preet sure talks to a lot of interesting folks, and thanks to his chat with Michael Moore he is giving away copies of Capitalism: A Love Story — Giveaway. Remember true love, is always saying you are sorry.
• The Canadian Capitalist has some Tips for your RRSP Contribution which is useful, even with RRSP season being over effectively.
• Larry MacDonald talks about the 2010 Budget and Personal Finance, and he should know he’ll have been locked away learning about it.
• Canadian Financial DIY points out that Canadian Computer prices might not be as big a gouge as they used to be in The Mighty CAD.
• The Quest for Four Pillars takes on a topic near and dear to my heart with Buying an iPhone From Rogers? – Don’t Believe a Word they Say. I’d like an iPhone, but they are just too darn expensive.
• Gail Vaz-Oxlade gives us something to think about with 8 Reasons Why YOU Don’t Save, how did she know?
• Ellen Roseman returns from a nice vacation and gets Back to Work, helping people get refunds. Vacations are refreshing, wish I knew how to go on one.
• To Succeed Financially you must Know Yourself says Million Dollar Journey, which is true. No financial plan works unless it fits how you want or can live.

Remember folks, there is a new budget and maybe soon we’ll have a new, non-descript, non-threatening and boring National Anthem. I suggest that we hire John Tesh or Air Supply to write it! Have a great weekend.

Don’t You Usually Comment on the Budget?

Yes, I’ll wait until Monday to comment on what the budget means to me. It seems I have walked into another cost cutting world, wonder if the Public Sector’s lay-off scares are worse than in the Private Sector?

For parents one cool thing is that your estate can transfer (after your death) from your RRSP to your disabled child (or Grandchild’s) RDSP, which could be a very good thing for those with disabled kids or grandkids.

Olympic and RRSP Random Thoughts

Given most Canadians are caught up in the excitement of the Vancouver Olympics, they hopefully will not forget that it is almost the end of RRSP season and you have until midnight March 1st to make that contribution to count on your current Income Tax submission. Given the lack of activity in most banks, I think most Canadians are more worried about Canada beating Slovakia in Hockey, or whether our Curling teams can bring home Gold (but we can forgive folks, after all there is nothing more Canadian than Hockey and Curling).

After all the excitement of hosting yet another Carnival and having my first ever give-away, let’s see what other Personal Finance Bloggers might have had to say this week:

• Michael James keeps with the Olympics feelings, telling investors to “…not grip your stick too tight…” in Investing Lessons from Hockey, oh and I think he also says, Always keep your stick on the ice.
• For all those Hockey Moms and Dads, the Canadian Capitalist points out that Tim Hortons Brews and Expensive DRIP and SPP, strange that they wouldn’t know how to DRiP? They couldn’t be using Instant Coffee could they?
• Million Dollar Journey takes a more financial angle with 5 ways to Reduce Financial Clutter which has some good ideas for those Financial Hoarders out there.
• The Task Force on Financial Literacy published a report this week entitled Leveraging Excellence writes Larry MacDonald, but is the task force made up of the right folks? I don’t know, no one asked me for my input.
• Preet at WheredoesAllMyMoneygo.com’s career as a Financial Talking Head took a minor setback this week when his Lang and O’Leary exchange interview was cancelled. Hopefully you will see Preet’s smiling face on your TV somewhere else soon (he is well worth listening too).
• The Four Pillars does a Quicktax Canadian Tax Software Review, which would be useful if someone gave away the software (like I did).
• Gail Vaz-Oxlade asks, Who are you trying to Impress? and my answer is, no one really. I gave up trying to impress folks once my age passed my waste size.



Go Canada! and remember RRSP season is almost over.

After yesterday’s odd post about Saint Valentine (the patron saint of Personal Finance) (I thought for sure I’d at least get a few “What are you talking about?” comments, but c’est la vie), we now have a look at this week in the world of personal finance blog sights and what they have been talking about (during this busy RRSP season as well). Given few folks will be giving any of my innovative Valentine’s Personal Finance gifts, let’s see what other bloggers might be talking about.

• Michael James writes about the Dangers of Automatic Bank Account Withdrawals, and why joining Health Clubs that only allow you to enroll that way, might not be that good.
• Preet asks do we Canadians have a Home Bias when it comes to buying Canadian Stocks?
• Given there is talk that MLS may be accessible to the public, the Canadian Capitalist’s post Real Estate Agent Incentives.
• Larry MacDonald makes a different post talking about Iran and Uranium Enrichment (a different kind of Personal Finance post), but still entertaining, as always.
• Gail Vaz-Oxlade encourages her readers not to have a Victim’s Mentality in her post Who’s In Charge Here?
• Canadian Financial DIY writes about one of his pet topics in Inflation and Corporate Earnings.
• The Four Pillars did make a romantic post with A Numbers Approach to Finding True Love.
• Ellen Roseman warns us to be careful about oral contracts with the Telecom Ombudsman upholds Bell’s verbal contracts.

Surprisingly,only 1 blogger with a Financial Saint Valentine’s post, I guess I am very avant guard I guess?

Remember to get your sweetie some sound Financial Valentine’s Day Gifts (or maybe a nice card (no not a Credit Card!)).