Million Dollar Journey and Canadian Capitalist have teamed up to create a message board for personal finance talk. Go check out Canadian Money Forum! Canadian Capitalist had an article on bucking the conventional wisdom on a fixed-rate mortgage. Thicken My Wallet gives us some insight on what will happen if the US dollar falls. Million…
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Monthly Archives: April 2009
Increasing Your Mortgage Payment
I wrote previously about how accelerated bi-weekly mortgage payments can pay your mortgage off sooner. In that post I used this example, if you have a $200,000 mortgage, amortized for 25 years @ 5%, and bi-weekly accelerated payments, you would pay $124,095 in interest and will have the mortgage paid off in 22 years. The…
Online Insurance Quotes
Is your home and auto insurance up for renewal soon? It might be a good idea to look around online to see what quotes you can get from other companies. I’ve tried Kanetix, which will display quotes from many different companies, but in my case the quotes were no better than who I have been…
Debt Service Ratio – GDS and TDS
Gross Debt Service (GDS) and Total Debt Service (TDS) are ratios that banks and mortgage brokers will calculate to determine if you are financially able to afford the mortgage you are applying for. Gross Debt Service is the percentage of your gross income that is required to cover housing costs. Your GDS should not be…
Top 5: February & March 2009
Since this site started at the beginning of February, it has been gaining readers every week. I thought it might be a good time to start a Top 5 every month as a recap of the best articles that you may have missed. I have also listed the top 5 referring sites, if it wasn’t…
Friday Links
Thicken My Wallet dissused high-yield bonds. My Findependence Day points out that you should understand what you’re investing in. Financial Highway showed us how to set financial goals. Generation X Finance had an article on how to handle tremendous investment losses Million Dollar Journey posted 6 ways to lower your phone bill.
Business-Use-Of-Home Expenses
If your home is your principal place of business, you can claim Business-Use-Of-Home expenses on page 3 of the T2125 form. The expenses allowed to be claimed include: Heat Home Insurance Electricity Maintenance (i.e. cleaning materials) Mortgage Interest (interest only, not mortgage payment) Property Taxes Water (if applicable to your business) The amount you can…
