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That Day, I Miss Jack, Easy Money and #MoneyStories

It is 14 years since that day, when the world changed in 2001. Is the world a worse place because of the events of that day? It’s a different place, is all I can say with certainty. History will tell us the rest.

Have One For Me too Jack
Jack we miss you on the Campaign Trail, this is a boring election without you.

The election continues to show that the Tories are lagging, the Liberals are not wowing, and the NDP seems to be turtling their way into a slight lead, but none of the party leaders are running away with the race. It would have been exciting to see this election if Jack Layton had beaten cancer, but we will never know, won’t we?

Apple introduced some “new” technology, including the iPhone Maxi (6S Plus) and the reintroduction of the Apple TV. I get the feeling that the media world (specifically video streaming) is about to change, but I also suspect it may not be Apple that wins the fight.

Our friends at the Bank of Canada continued their rates on Wednesday with the following statement about the economy (hopefully, one day it will come with a helpful decoder ring to explain all the jargon as well):

Increasing uncertainty about growth prospects for China and other emerging-market economies, in contrast, is raising questions about the pace of the global recovery. This has contributed to heightened financial market volatility and lower commodity prices. Movements in the Canadian dollar are helping to absorb some of the impact of lower commodity prices and are facilitating the adjustments taking place in Canada’s economy. While the overall export picture is still uncertain, the latest data confirm that exchange rate-sensitive exports are regaining momentum.

Meanwhile, risks to financial stability are evolving as expected. Taking all of these developments into consideration, the Bank judges that the risks to the outlook for inflation remain within the zone for which the current stance of monetary policy is appropriate. Therefore, the target for the overnight rate remains at 1/2 per cent.

A simple translation? “risks to financial stability are evolving as expected” the known unknowns are known? The unknown knowns are better understood?

My Writings for Week Ending September 11th

With Labour Day being so late this year we are already well into September, however, it is still hotter than most of the summer, 2015 an odd year for weather :

Tweet of the week

I found this one in my twitter feed and was horrified when I read the story

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Back To School and RESP Time

Back to school and RESP withdrawal time happens in December too (paying for that winter term). Do you have your proof of enrolment yet?

Stats Canada

Ironic Labour Numbers on Labour Day for August

Is it ironic when you publish Labour Numbers for Canada in 2015 on the Labour Day weekend? Maybe.

Money Tweets Finance Investment

Laboured Personal Finance Tweets of the Week

Explore the world of finance and gain insights on managing your money effectively.

steel gate of brown brick building

Back to School, RESPs, Banks Behaving Badly and #MoneyStories

Some schools have started this week, and most will be open on Tuesday after Labour Day. Plenty of back-to-school sales going on and plenty of pressure to buy your kids all the things they “need” to go to school. The problem is that some stores’ definition of “need” is a little out of wack. Do Students need a home computer, laptop, tablet and also iPhone? That seems to be implied by many of the tech stores. Isn’t a Hilroy Exercise book, a pencil and a pen enough? It seems that lifestyle creep has worked its way into the back-to-school.

Piggy Bank
Is This the Only Bank You Can Trust?

My yearly pilgrimage to the bank to extract money from my RESP continues to create more and more content for this site, so I must send a Thank You note to TD for all the great stories that have come from their product. As I mentioned in my article this week I did manage to not run into the TD E-series Beartrap, where I cannot do anything in my local branch with the E-series funds, so I must first transfer the funds into a TD Money Market account so that then my local branch can release the funds in that savings vehicle.

I thought my issues with TD and RESPs were bad. However, Mrs. C8j pointed me to an article in the Ottawa Citizen about a woman (who she knows) and her issues with Scotiabank and their RESP (another classic example of “Banks Behaving Badly“). It seems they would not release the funds in the account until Ms. Adeney answered some Marketing questions about her net value and income. Read that previous sentence again, they would not give her HER money, until she answered the questions? What the flip? I am glad to hear that Scotiabank admitted their mistake, but at least TD never did that to me.

My Writings for Week Ending September 4th

The summer is slowly coming to a close and an entertaining fall lies ahead (with plenty of election shenanigans and tom-foolery) :

Tweet of the week

Ellen Roseman (if you aren’t following her on Twitter and on Facebook, you are missing some good stuff) gives another example of “Banks Behaving Badly“. I note I am only 8 new twitter followers until I reach 2500 followers (hint, hint).

Read More »Back to School, RESPs, Banks Behaving Badly and #MoneyStories
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