When you buy computers, electronics or appliances, you will likely be asked if you’d like to get an extended warranty for it. There are a few reasons why I don’t believe that extended warranties are worth the extra expense: Most products are unlikely to need repair during the extended warranty period. They will either have…
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Monthly Archives: March 2009
Canadian Index ETFs – XIU vs XIC
When looking for an Exchange Traded Fund (ETF) that indexes Canadian equities, the two most suitable choices are from iShares. The iShares CDN LargeCap 60 Index Fund (XIU) tracks the S&P/TSX 60 Index. This index is composed of S&P’s selection of 60 of the largest, most liquid stocks on the TSX. The Management Expense Ratio…
ecoENERGY Retrofit
A month ago I wrote about borrowing for the Home Renovation Tax Credit (HRTC). There is one further step you can take that would pay that loan off even faster, qualifying for and receiving an ecoENERGY Retrofit grant. Home owners can qualify for a ecoENERGY Retrofit grant of up to $5,000 by making their homes…
Friday Links
Million Dollar Journey explains portfolio allocation. Canadian Capitalist shows the results of dollar cost averaging for the TSX composite. Canadian Mortgage Trends discusses the direction the fixed rate will go. Michael James on Money posts Warren Buffett’s solution for mortgage abuses. Financial Highway shows how a recession can be a good thing.
Accelerated Bi-Weekly Mortgage Payments
Do you have a monthly mortgage payment but get paid every 2 weeks? One of the simplest ways to reduce the total interest you pay is to split your mortgage payment in half and pay that amount every 2 weeks. You’re not likely to notice the extra amount you are paying off but it can…
10 Money Saving Tips
I’m sure these days most people are looking for ways to save money. Here are a few money saving tips that have helped me and hopefully you can benefit from doing these as well. Don’t pay an annual credit card fee. There are many cards that don’t have fees and still include the extras like…
Claiming Medical Expenses
There are a few rules to claiming medical expenses, but with a little planning there are ways to maximize your claim. Of your total medical expenses, you have to subtract 3% of your net income (line 236 of your tax return) or $1,962, whichever is less. So if your net income is $40,000, you cannot…
