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Canajun Finances Home » Canada in a Good Place?

Canada in a Good Place?

So far I keep hearing from different sources (the Bank of Canada, Stephen Harper and now the IMF) that Canada will weather the Financial Apocalypse of  the 21st century (at least the first one) and come out of this whole recession/depression/meltdown quicker and stronger than many other countries. 

Do I believe it? Sure, for now it’s good to have hope, and hope might be a good thing right now (to paraphrase Stephen King), but remember the skepticism is important as well (i.e. don’t blindly believe this and make silly decisions based on this optimism).  Hope for the best but plan for the worst, is still an important credo to live by.

Bank Service Fee Ambiguity

For those who don’t know, I am averse (if not allergic to) Bank Service Fees I have come to an interesting question about how my accounts work. 

This past week I had to order cheques for my chequing account (I am astounded by the number of cheques I still write, given I pay all my bills on line) and I was gouged charged the regular $30 for a set of cheques by TD.  I grumbled about this but then I remembered that the last time I ordered cheques for my Line of Credit they came for free.

I then wondered if I ran my entire financial life through my Line of Credit would I be gouged charged the regular $15 a month (which I don’t pay) service fees that I do for using my chequing account and such? I realize doing this is a very precarious bit of balancing and you must be very diligent to make sure you are really paying down  your debt load, but it is an interesting question.

Why is doing the exact same banking activity free if I use my Line of Credit but costs $15 a month from my chequing account?

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