Friday, May 8, 2015

Short Takes: Mortgage-Breaking Penalties, Ridiculous Trucks, and more

Here are my posts for the past two weeks:

Money: Master the Game

Spinning the TFSA Increase

TFSA Limit Increase and Long-Term Cut

Replies to Emails I Usually Ignore

Here are some short takes and some weekend reading:

Robert McLister is calling on the federal government to force lenders to clarify the rules for penalties for breaking a mortgage. He explains that the calculators banks make available are unusable by most borrowers.

Mr. Money Mustache takes a run at men who own ridiculous trucks.

Preet Banerjee has another great Drawing Conclusions video, this time explaining the costs of a payday loan.

Tom Bradley at Steadyhand adds some context to the latest fee increases from Canada’s big banks.

Dave Liggat describes a way to use a Google spreadsheet to track your portfolio in real time that looks a lot like the way I track my portfolio.

Dan Hallett explains why covered calls are not free money.

Big Cajun Man has a picture of one way he saves money and asks if he is being frugal or cheap.

The Blunt Bean Counter explains the advantages of RRSPs over TFSAs.

Boomer and Echo say we need to get over the thinking that it’s hard to switch banks.

My Own Advisor says that with the TFSA limit increase everybody wins. I’m guessing that he’s trying to be controversial, but this is not literally true. Some people can’t use the higher limit but will have to pay their share of the make-up taxes (or lower government benefits) to cover the lost tax revenue from TFSAs.

5 comments:

  1. Thanks for the inclusion this week, cheap is in the eye of the beholder, I guess.

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  2. Yup, a little controversial, you got me....the same could be said for the RRSP limit, everyone doesn't always win although I think contributing to both accounts for many Canadians is a good idea.

    They will raise the HST to cover loss revenue.

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  3. Thanks for the mention! There are payday loan shops opening up left and right in my city. I should try to get Preet's video to run on the digital signs around those areas to let people know that $300 for $20 is a terrible deal.

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  4. I enjoyed the Mr Money Mustache article. A lot of my friends from northern Manitoba buy really fancy trucks every few years, I occasionally try to gently convince them to keep them longer, but chances are slim they'll be compelled, so I'm not forceful.

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    Replies
    1. @Gene: I'm glad someone else liked the truck article. I chuckled the whole way through.

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