Month: January 2012

Should I contribute to my TFSA or RRSP?

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With the end of January nearing, Canadians are focused on contributing to their RRSPs and getting their tax refunds. In an ideal world we would make maximum contributions to both our TFSA and our RRSP accounts. However, most Canadians simply don’t have enough income to be able to contribute significantly to either plan – yet max out their annual TFSA contribution. Here at home many Canadians still prefer to contribute to their RRSPs instead of their TFSAs. Yet for many Canadians the TFSA may be a better choice. The TFSA The Tax Free Savings Account (TFSA) was introduced by the …

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What Should I Invest In for 2012? Part-2

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As mentioned in Part-1 of this series, I set out to write a wrap-up of investing strategies for 2012. While I was writing the post, the thought occurred to me why not ask the other well known bloggers and financial writers what they think? I was delighted with the response I received, and it’s now turned into this much larger two-part post. Here is a recap what I sent them, hoping for a small paragraph: “Short of hauling out the crystal ball, because your guess is as good as mine, I also wanted to know what sectors are in your …

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What Should I Invest In for 2012? Part-1

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I originally set out to write a wrap-up of investing strategies for 2012. The focus of the article was going to be much the same propaganda I usually spout, such as keeping a balanced portfolio of stocks and bonds, sticking with a plan through thick and thin, investing in solid dividend paying stocks, and not getting lured into the high yield trap etc. But I’ve said that so many times before… While I was writing this post, the thought occurred to me why not ask the other well known bloggers and financial writers what they think? I’ve corresponded with all …

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Are Reward Credit Cards Worth the Cost?

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Canadian Credit Card Debt According to David Trahair, in his recent book Crushing Debt, the average Canadian has approximately $25K in household consumer debt (credit cards and lines of credit).This amount was provided from a TransUnion independent report, and doesn’t even include any mortgage debt. Trahair went on to examine the report in detail, which came to the independent conclusion that most Canadian household debt was likely being carried on lines of credit to pay off credit cards (Crushing Debt, pg.78).But for those without lines of credit, it’s not such a good deal. The Prime borrowing rate in Canada for …

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