1. A unit of GMAC Financial Services launched a new set of online savings products in Canada this week called Ally. They promise not to have minimum deposits or balances, and not to use teaser rates. Their web site contains a rate comparison tool that shows how their rates compare to competitors. Among GICs, Ally rates were best for only a 2-year term. For 1, 3, 4, and 5-year GICs there was a competitor with better rates. Unfortunately, they don’t actually name the superior competitor.
2. There is a small company with a cellphone plan calculator called Cell Plan Expert that is relieved about Industry Canada mothballing their cellphone plan calculator. Cell Plan Expert offers what it calls a basic level of service for free (although it seemed quite thorough). I tried it, and it gave me results consistent with my own research into cell plans, but my very basic cellphone needs aren’t much of a test.
3. Big Cajun Man got Rogers Cable to back down on its unlimited surcharge for internet bandwidth use.
4. Preet shares some amusing hate mail sent to the Mutual Fund Dealers Association, an organization responsible for enforcing rules about how mutual funds are sold.
5. Canadian Capitalist lists his top 5 investment deals.
6. Million Dollar Journey discusses how to convert a principal residence into a rental property the right way so that mortgage interest becomes deductible.
7. Thicken My Wallet explains why life insurance rarely makes sense for children.
8. Gail Vaz-Oxlade shares some letters from people who are desperate and delusional about money.