Lent for 2017 has begun, and as usual I am hoping folks use this period to enrich and change their lives (spiritually and financially). This is an excellent time to try out new lifestyle and financial ideas and concepts. The period is only 40 days, which allows for a short-term experiment.
The Bank of Canada has decided the Inflation scare from Stats Canada is to be ignored for now. The happy world of loose money continues on, but for how much longer? The Bank did comment on the current economic state:
“In Canada, recent consumption and housing indicators suggest growth in the fourth quarter of 2016 may have been slightly stronger than expected. However, exports continue to face the ongoing competitiveness challenges described in the January MPR…. In this context, Governing Council judges that the current stance of monetary policy is still appropriate and maintains the target for the overnight rate at 1/2 per cent.”
The days of incredibly loose money policies may be numbered, but I have been saying that for about 10 years now.
Ontarians will be paying less for electricity soon (17% less?), but will be paying for it later. What will lower hydro bills in Ontario do to the Inflation numbers? Will this somehow salvage the Liberals chances in the next provincial election?
RRSP season is over, but it has also begun again for 2018. What if you put a little away every pay cheque, and adjusted your tax at source to reflect that? That way you are not loaning the government money this year.
It is Crashed Ice weekend here in Ottawa. Crazed skaters go up and down a roller coaster of an ice track racing each other? Luckily it has cooled off. What better way to help celebrate Canada’s 150th birthday?
My Writings for Week Ending March 3rd
It was a busy week for me, with plenty to write about. I started off with Gasoline Pushed Inflation to 2.1 %, which of course is from our friends at Stats Canada. The good news is that fresh fruit and veggies are cheaper. With RRSP season coming to a close on March 1st, I felt it important to remind folks about 5 Things to Remember about RRSPs. Finally with Lent starting on March 1, I gave a few good ideas of things to try out during Lent with, Money and Lent : Clutter too ?
A Money Thought
I sometimes like making flow charts, and this is one of my favorites. Yes the box shapes really mean something.
— Big Cajun Man (aw) (@bigcajunman) March 2, 2017
Loose Money and Kamikaze Skaters
That can surely only mean it is March in Ottawa. Plenty of great financial stories and articles to read over this weekend.
- 2nd Career Search asks, Do Your Expenses Decrease After Downsizing? He has moved back to Canada from the United States of Trump, so he has some interesting insights on expenses after moving back “home”.
- The Holy Potato gives us two diverse perspectives, in Advice and The New Model, guess which model he thinks is a better one for your financial plans.
- Million Dollar Journey ventures into the magical world of dividend investing with, How to Build a Dividend Growth Portfolio . Many folks swear by dividend investing, I am still not sold on it as the best investing method.
- A cautionary story from the CBC about a financial adviser gone wrong, Former financial adviser sentenced to 7 years for defrauding clients
- How to Save Money . ca brings us The War on Debt: Notes from the Front Line, written by Debt Dispatcher. I think giving your debt a name is a good idea.
- Vanguard funds tries to answer the age-old question, How are ETFs different from mutual funds? You sure you know all the differences?
- Mark from My Own Advisor points out the folly of loaning the Government money in his article, Looking for a big tax refund? Not ideal friends.
Do I really Hate Sean Cooper ?
Sean’s book has finally been published, so he is making the rounds these days, and here he is on Global talking about burning your mortgage. Do I really hate Sean Cooper ? No, but it is a catchy title (might be my next book).
2017 Random Thoughts
- RRSP Season, Tax Time, and #MoneyTalk (February 24th)
- Farewell Vinyl Café, Snow, Monopoly and #MoneyTalk (February 17th)
- RRSP , Tax , TFSA , RESP, and RDSP Time and #MoneyTalk (February 10th)
- Year of the Fire Rooster, Financial Groundhog Day and #MoneyTalk (February 3rd)
- Alternate Financial Facts, 1984 and #Moneytalk (January 27th)
- Bungled Mortgages, Friday the 13th and #Moneytalk (January 13th)
- Merry New Year, CPP, EI and #MoneyTalk (January 6th)