While governments in Canada and the United States are moving the minimum wage rates higher there won’t be any wage increases for public sector workers, middle class types and me.
Prediction: An increasingly smaller middle class and I will continue to wonder if I am actually lower middle class or if I need to start referring to myself as a new income class called upper lower class. Continue reading
1) The easiest way to get rich is to be born in to it. If you are reading this and you are no rich then it is too late for you and you will have to get rich another way.
The banks have come up with a great idea to “carry a mortgage and carry on with life too” . That statement met me when I logged on to do some banking with TD this week. The photo above is part of the mortgage holiday advertisement.
“When it comes to big events like staying home with a new baby,
going back to school or taking a sabbatical from work, a
TD mortgage could give you the opportunity to take a payment
vacation for up to Continue reading
With the second quarter starting it is time to dust off the old play book and make some revisions. Too late to get the Leafs in the play offs but not too late for me to score some big points against my HELOC.
Sometimes I think of the HELOC (currently owing $7,529) as a competitor that I have to beat. The rest of the time I think of the HELOC as a heavy weight that pulls around my chest that I must drag everywhere I go.
Most of the time I think that the competition is against myself and that when I revise the financial play book for the second quarter of 2014 it is to keep me in the game, to keep me focused and to keep me moving forward. Keeping your head in the game is Continue reading
With the first 3 months of the year almost gone and the snow finally starting to melt it is time for an update of the first quarter’s finances.
A Little HELOC Fail
On January 1, 2014 my HELOC balance was $11,250. My goal was to pay off $4,350 of that debt but as of today I have only paid off $3,721. My HELOC balance is $7,529 and not the $6,900 that I was shooting for. Failure because I thought I would get 3 pay cheques in March and not 2. A small failure but I am on track and will catch up in May when I actually get 3 pay cheques in 1 month. Continue reading
I like to save money but I am kind of lazy so I look for ways to save money without working too hard at. These are some of the things that I do to cut costs without inconveniencing myself too much or creating extra work. I am actually quite lazy.
1) My big jug of Costco dish soap (bought on sale of course) is watered down and used to wash dishes in the kitchen and hands in the bathroom. I have an empty hand soap dispenser in my bathroom that I just keep reloading with dish soap cut half and half with water.
2) I just used that watered down dish soap to wash some of my unmentionables Continue reading
Better Late Than Never
I dropped the information for our 3 tax returns at the accountant today. I predict it will take him a week to get them done. It will only take him a few minutes to do them and submit them on line but he is flooded with business at this time of year and we were very late getting our stuff together. Actually just one of us was very late getting our stuff together (right younger son).
My father did his own return online and had his refund in 10 days. Continue reading
I don’t want or need to use an accountant but I have to because of my divorce. He is a nice accountant who keeps everything fair when crediting my children’s tuition tax credits between the children, myself and the children’s father.
The accountant has been a big help to me over the years because he will answer any type of tax question I have at any time during the year at no extra charge. He was a giant help when I was audited and did not charge me for any of that either. It all ended badly for me but it wasn’t my accountant’s fault. Continue reading
Interest Rate Guessing Game
I was convinced that interest rates were going to start to slowly rise in 2014. That theory was blown out of the water when my bank, TD Canada Trust, sent me a mortgage offer for 2.97% for 4 years. What does TD know that I don’t?
We both know that the giant Chinese economy is not doing as well as the Chinese want you to believe it is doing. We both know that other large economies are not improving as fast as expected. We are both worried about what Putin is planning.
We are both risking money Continue reading
Mick Jagger’s girlfriend ended it all this week and the press is speculating that her debt, estimated to be $6 million, may be the reason behind her suicide.
Her name was was L’Wren Scott and I had never heard of her until she decided to take her own life. I do not follow fashion but she seemed to be a fairly successful designer who clothed many famous ladies. She had dated Mick Jagger for years and her friends, including actress Nicole Kidman Continue reading