Bungled Mortgages, Friday the 13th and #Moneytalk
How are lenders in Canada skirting the new mortgage rules? A Bundled Loan for one (or Bungled Mortgages as I call it ), and other great finance stories.
Canajun Finances
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2016 The Year of Part-time Jobs
Friday, the 2016 year ending Labour Force Survey was published by Stats Canada and it confirmed that 2016 was the year of the part-time jobs. To quote the survey overview: In the 12 months to December, employment… Read More »2016 The Year of Part-time Jobs
Merry New Year 2017, CPP, EI and #MoneyTalk
The year 2017 has begun and hopefully it is a Merry New Year for all of us, given how poorly 2016 seemed to go for some of us. Happy New Year 2017.
If you might have forgotten, CPP and EI restart for those of us who are not CEO’s or get paid over $400K. Those folks still have to pay those, but they only pay it on their first pay cheque.
Curious about how much you will be paying this year? Here’s your sign:
- CPP for regular employees (maximum): $2,564.10
- CPP for self-employed (max): $5,128.20
- EI maximum for non-Quebec folks: $836.19
- EI max for Quebecers : $651.51
Remember that if you tell your co-workers, “Hey I no longer pay CPP”, they can figure out your yearly income.
My Writings for the Week Ending January 6th
I started this merry new year throwing out a little click-bait, stating that I Hate Sean Cooper, which of course is not the case, in fact I admire his ability to pay off his house debt so quickly. It all started listening to a piece on CBC Radio about Sean, and how the Internet trolls were skewering him. I read through the CBC web piece on him, and sure enough there were just asinine comments that made me laugh, and the article wrote itself. Sean has a book coming out soon, that I hope to have a review done for soon.
Car Loans Lasting How Long?
When car loans start lasting 12 years, I have to start wondering when Car Loan Insurance (similar to mortgage insurance) is going to start being offered by banks? I keep cars 12 years, but I don’t want to pay for them for that long (and spreading a Corolla’s loan for that long, would take a lot of work).
I Hate Sean Cooper
Is Sean Cooper a preachy know it all, or someone who showed that anyone can get out of debt if they just put their mind to it?
Go Away 2016, Deep Thoughts, End of Year and #MoneyTalk
2016 has been a real pain in the arse, especially in terms of news and music. It is safe to say that most people are looking forward to seeing the back of it. However, I have a thought-provoking question for you. Do you think the famous individuals who passed away in 2016 anticipated what 2017 has in store and decided to leave early? This is a deep thought from BCM for 2016, and I firmly believe that this year cannot end soon enough.
Have you done any of the things you should be doing for the end of year?
- Top up your Charitable donations ? Those are counted on the calendar year, you have today to try to get it done (or go to Church on Sunday and they might count it as this year too).
- TFSA juggling, if you were planning on taking money out of your TFSA, you should have done it by now, that way you can easily have the deposit space for next year, and you can start paying it back.
- It is never too early to put money into your RRSP (if you have room, and don’t have a lot of debts).
- Make sure you have paid all of your bills for 2016 as well (quarterly CRA, property tax, etc.,).
- Evidently January 2nd is known as Divorce Day, so maybe you should start that early ?
You could always create a financial plan for 2016 as well (never a bad idea either).
My Writings for Week Ending December 30th
I did manage to get a thematic post out this week, discussing the important celebration of Festivus, with Festivus Financial Airing of Grievances, and I have a lot to complain about this year, that is for sure! Next the feats of strength, get ready to rumble, baby!
