An Older Canada, Farewell Max, and #MoneyStories

For those who didn’t see the info from Stats Canada in their daily report: Canada’s population estimates: Age and sex, July 1, 2015, there are now officially more Seniors in Canada than Children. To quote the report directly:

For the first time, the number of persons aged 65 years and older exceeded the number of children aged 0 to 14 years.

Will the world start pandering more to Seniors now? That is where the money is, see the interesting graphic below from the report, and there are going to be a lot more of us soon too!

For those not in the Ottawa area, Ottawa lost an adopted son with the passing of Max Keeping yesterday. I am an adopted son of Ottawa now too (having lived here longer than I have anywhere else), and Max Keeping was the voice of News for a very long time, so I am sad to see him passing, but he had been having a touch fight with cancer. Did I agree with all of his opinions? No, but I respected the way he portrayed the news. Rest in Peace Max.

Population by Age in Canada

Population aged 0 to 14 years and 65 years and older, as of July 1, 1995 to 2035, Canada

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My Writings for Week Ending October 2nd

A busy life week for me, so only two posts, but an oldie but goodie seems to be gaining some attention

Facebook Fun of the Week

Of course you can trust me:

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Direct Deposit Enrolment for Government Benefits

Here is a quick Tuesday update to remind you that Government Cheques will be going away very soon (April 2016), and you can easily sign up for direct deposit, if you can remember your on-line banking.

Life of a Government Cheque

Journey of a Government Cheque

How hard is it? Let’s just walk through it for you.

First question to answer is, do you receive Government Cheques for any reason? You sure? Check this web page which has a list of all the different folks that can send you cheques, which include:

You sure you don’t receive any of these?

Next, congratulations! You have figured out you need to set up direct deposit (the first step to solving any problem is admitting you have a problem). How can you fix this? Click on any of those links above and you will be told how, however, let’s try a different way of doing things, let’s go to the CRA and check out how your Tax Refund might be done.

  1. Go to your CRA MyAccount page  (link on that page). What the hell is a MyAccount? Don’t worry, you don’t need to create one, you can simply log in with your On-Line Banking credentials (if you don’t have on-line banking I would strongly suggest going to a Services Canada Office to set things up).
  2. Log into CRA My Account with your on-line banking credentials
  3. If you have done things right you will then be at a home page that will have many different and wonderful things you can do with the CRA. Select the Accounts and Payment tab
  4. Voila here is where you set up your direct deposit, or alter it so that it goes to a different account, or stop it from being deposited (although why you would do that I do not know).

It is just that simple people, so why haven’t you set it up yet? Get off your duff and do it!


What Twits are Talking About Money ?

Plenty of news on the twitter wire on the election front, but another fun week of interesting money related tweets on the Twitter Machine (remember I am there as @bigcajunman ) and maybe some other social media as well!

With the new economy how will the tax system deal with these new digital currencies? BDO has some advice for you.

This makes me sad, I thought my money loved me, and like the saying says, if you love something set it free (and I do).

You never thought I’d be quoting the CIA eh? Well this one is very true about your local library, and specifically it is great for financial resources too (magazines, books and articles), go to your library and support it (or you will have to answer to the CIA).

I did mention the election, and how the Bank of Canada will work if there is a change of leadership would be a very interesting question. Has anyone asked any of the leaders how they might change the Bank of Canada’s mandate?

Roger Wohlner writes about the worst Mutual fund yields, and I wish more folks would check to see what their Mutual Funds yielded they might be horribly surprised.

Now there is three words I wouldn’t think would go in a sentence “designer luxury consignment“? Does Jaguar have a crash and dent section?

For those of you who don’t follow TVO, you are missing out, and here is your deep thought for today.

A quick look at Facebook and I see that the TFSA is good for single income families? That is not what all the Financial Chicken Little Crowd is saying?


The Pope, Autumn, Elections, Volkswagen and #MoneyStories

I have never been a big fan of the Catholic Church and specifically the power of the Pope, but I must admit that this new Pope is making me rethink my low view of the Papacy. The riches at the center of Vatican City has always been a stumbling block for me, but when I read the Pope’s statement about migrants and Churches that refuse to help refugees, I was pleasantly surprised, Pope tells religious orders they should lose their tax breaks if they refuse to take in migrants and are more interested in making money than helping the needy , wow. I keep wondering just how long this Pope will last if he keeps making more sense than the Republican Party candidates in the U.S. ? Pope Francis is even talking about Global Warming too. He truly seems to be a Pope for the 21st Century, and I hope he keeps going.


Autumn Leaves and a Haiku for you

The Autumnal equinox has come and gone and Autumn is here, for those that didn’t notice (or Spring is here if you are in the Southern Hemisphere). Autumn is nice, but the biggest problem I have with it, is that it is just before Winter.

The Election this week highlighted the need to have a basic knowledge test for all candidates, and possibly a background check. One NDP Candidate made a very bad Auschwitz reference, and then claimed to have never heard of Auschwitz ? Was she out of the classroom when that topic was brought up, or is it not part of the new curriculum in Ontario? A PC Candidate had an old YouTube video bite him on the tuchus when he made a statement about abortions and 9/11 , you can find the quote but it is just “too beaucoup” for me. I weep for this generation of candidates, the only things sadder are the folks that will vote for them.

Volkswagen is in the news for finding a way to pass every diesel emission test with flying colors, by having their on-board computer figure out that it is being tested, and do what is needed to pass the test? Some might say that this was just good planning on their part, but I would never say that. People drive diesel cars was the more astounding part of this story (for me).

Glad to see the Rugby World Cup has some drama, when Japan defeated South Africa, and the South African Springboks had to apologize to the entire nation for the loss.

Stick it to your broker and start trading for free. Get $50 in free trades.

My Writings for Week Ending September 25th

Now that Autumn is here, we can enjoy those long nights by catching up on my writings?

Tweet of the week

I don’t think I share Ms. Kerry’s esprit de Noel

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The Financial Hawthorne Effect

The Hawthorne Effect (also known as the Observer Effect), is something I have observed in my life more than once. The main thing I have seen is that when I start observing and taking close note of what I am doing, financially, I change how I act with money, thus I end up changing my lifestyle, but then having the wrong perspective on my financial life.

The specific example I can give, is when I decide that I am spending too much money (usually happens at least 3 times a year) and I want to see where the money is going. I  start watching what I am spending, by becoming (even more) anal about recording expenditures in Quicken (my normal method for watching spending).

Hawthorne Effect

The Hawthorne Effect (I always thought this happened)

Typically when I start noting my financial life I end up:

  1. Not buying lunch at the cafeteria at work, or limiting it to 1 or 2 meals a week, and eating more left overs for lunch
  2. Attempt to have “no spending days” where at the end of the day I have the same amount of money in my pocket as when I started, but that becomes a bit of a cheat with Interac and Credit Cards.
  3. Doing weekly and monthly reports to look at where the spending is happening and then “discussing” that with Mrs. C8j (OK, so it ends up in a fight because inevitably in the discussion I use the “What were YOU buying at Store Z?” phrase).

Doing all of this causes me to alter my spending habits, thus the data I am collecting is at best skewed and at worse, incorrect.

The best way I can do a real study on my spending habits is by looking at past data (in Quicken) and act on that data, however, when I do try to watch myself financially, I end up acting like I am supposed to act, so maybe that side-effect makes the whole exercise well worth while ?

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