Your insurance deductible is the amount you pay when you make a claim. You can save 10-40% on your insurance premium by increasing your deductible. The reason for the savings is that you are agreeing to take on more responsibility for losses to your property. If you raise your automobile insurance from $500 to $2,000,…
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Monthly Archives: June 2009
The Basics Of The Smith Manoeuvre
The Smith Manoeuvre is a strategy that Fraser Smith developed as a financial planner and then wrote a book about it in 2002. Its basic premise is to make your mortgage tax deductible, but it can do so much more for your personal finances than just that. To properly execute a Smith Manoeuvre, you need…
Scotiabank’s Scotia Total Equity Plan (STEP)
As I mentioned previously, we’ve recently switched from a conventional mortgage at RBC to Scotiabank’s Scotia Total Equity Plan mortgage. We chose Scotiabank as they had the best rate at the time, but we chose their STEP as it will allow us to continually borrow 80% of our home equity. You may be familiar with…
Friday Links
Million Dollar Journey gives us 8 ways to keep your kids busy this summer without going broke. Bible Money Matters says don’t fall into the trap of not budgeting when things are going well. Moolamony shows that you can secure your financial future by delaying your retirement. Ellen Roseman asks, have interest rates bottomed out?…
Should You Lease Or Buy Your Next Car?
Thinking of leasing your next vehicle since the monthly payments would be less? There is more to the cost of leasing a vehicle than just the monthly payments. At the end of your lease you can get hit with charges for any excessive wear and tear as well as going over your mileage allowance. There…
Pay Yourself First
You’ve probably heard this phrase before, Pay Yourself First. This is likely the easiest way to save money. Many people say they’ll save whatever money is left over at the end of the month. The problem with that is the temptation to spend on “must have” items. Then at the end of the month, there…
Build Your Professional Network With LinkedIn
Familiar with MySpace, Facebook and Twitter? There’s another social-networking site that you might want to join. LinkedIn is a career and business networking site. Setting up your profile is similar to creating a resume and adding someone as a “connection” is the virtual equivelent of exchanging business cards. Similar to Facebook, there are also groups….
