personal finance tips

Would-be vacationers could find themselves paying 30 per cent more for their warm-weather getaways this year. As the Loonie hovers around US$0.75, three-quarters admit the weak currency has impacted their trip plans. But cash-strapped travelers needn't settle for a staycation, as a number of travel rewards credit cards can effectively offset travel costs.
It's almost back-to-school time... and love it or hate it, no one can deny that it can be a time of high anxiety for both students and parents. From shopping for clothes and supplies to arranging transportation, preparing for courses and making new friends, it can be exciting, but stressful as well.
I have had a money diary for as long as I can remember. I like to write down things like new investment ideas, work ideas, my goals and net worth target for the year. When I'm on vacation I use my diary to write down everything that I want to see and what I've spent that day.
Regardless of your age, your job or your personal interests, the topic of money will always be relevant to you. You've likely heard terms "money management" and "financial literacy" countless times before, and with good reason -- having a clear understanding of your finances is non-negotiable if you hope to have a sound plan for your present and your future.
A growing number of wealthy people have decided to pledge their fortunes to charity rather than leaving large inheritances to their children or extended family. Giving to charity isn't just a smart strategy for community-building: it provides tax benefits too.
A successful estate distribution is one in which the family receives as much (and the taxman as little) as possible and the family is still able get together for the holidays without too much drama. Take steps to make this outcome likely by initiating a family discussion today.
Each year you are required to take out a portion of your savings from your RRIF, which is subject to tax, but there's no limit on how much you can withdraw. In addition you can name your spouse as a beneficiary, so RRIF assets can be transferred to your spouses' RRIF or RRSP on your death. You can't keep your savings in an RRSP forever.
The Canadian government first created the Registered Retirement Savings Plan (RRSP) in 1957, to promote savings for self-employed individuals and those without an employer-sponsored pension plan. It's now 2014, and that makes the RRSP 57 years old. The plan is obviously beneficial for many.
Tax shelters are few in Canada, so it's important to understand the ones that are available. The introduction of the Tax-Free Savings Account (TFSA) in 2009 was met with positive feedback, but it seems Canadians are not always sure about its value.
New Year's Eve. Champagne toasts and countdowns. Kisses at midnight and Auld Lang Syne. It's a time to look forward to the year ahead, and reflect on the one just past. Especially your taxes. Sorry to rip you out of the reverie, but taxes never sleep. And on December 31, Canada's tax laws set in stone a number of factors that influence your personal tax return.