Yesterday I discussed the Lifelong Learning Plan, were you can withdraw money from your RRSP for educational purposes. What if you need to withdraw more money from you RRSP to go back to school? What if you wanted to supplement a maternity leave with money that is in your RRSP? Or in the case of…
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Monthly Archives: April 2009
Lifelong Learning Plan (LLP)
The Lifelong Learning Plan is a government program that allows you to withdraw money from your RRSPs for education without any tax being withheld. This could be either for you, or your spouse or common-law partner. To qualify for this, you must be enrolled as a full-time student in a educational program at a designated educational…
Friday Links
Canadian Capitalist listed the top online tax resources. Million Dollar Journey asked if it’s time to switch to a fixed rate mortgage? The Financial Blogger reviewed the new Globe Investor website. The Smarter Wallet posts how to develop an investment plan. Where Does All My Money Go points out the importance of low portfolio turnover….
Buying Timeshares
Timeshares are normally considered a bad purchase. Many of these companies get you to come stay for a low price and then pressure you to buy in at prices of $10,000 or more, sometimes much more. Fortunately there is a much cheaper way to buy timeshares. People who have bought them resell them on eBay…
Payday Loans
Payday loans are short term loans made by companies like Money Mart and The Cash Store at very high interest rates. A borrower writes a personal cheque for the loan amount, plus a fee, payable to the lender. The lender holds the cheque until the borrower’s next payday and then deposits it if the borrower…
Registered Education Savings Plan (RESP)
A Registered Education Savings Plan (RESP) allows you to save for a child’s post-secondary education. You can start saving for your child right from birth, you just need to get a Social Insurance Number for your child first as the RESP will be registered to that SIN. RESPs are similar to RRSPs or TFSAs in…
10 Ways To Reduce Your Electricity Bill
Last month we looked at 10 Ways To Reduce Your Heating Bill. Now I thought I should follow it up with 10 tips on reducing your electricity bill. Turn off lights when not in use. This sounds obvious, but many people have a habit of leaving light on as the go from room to room….
