As the price of gasoline tops four dollars a gallon in the US and 1.4 a liter in Canada, consumers who are driving less could save an average of 5 to 15 percent on their automobile insurance rates if they just phone their insurers.
Read the rest of this entry »
Well here we are in the midst of another Canadian Summer. What has transpired in the financial realm that is of relevance? Let's do a recap of what's important to your bottom line.
First off I hope that all of you have done your 2007 tax return, especially if you owe money. Remember that the penalties for overdue taxes are an immediate 5% on the unpaid balance and daily interest thereafter. Putting that task in the procrastination pile will not make the problem go away! Most of you know you can ask for my help, moral support or otherwise.
Oil prices soared at the end of the week amidst a report from Morgan Stanley that in a month's time oil will reach 150/barrel. The question everyone is asking, who gave Morgan Stanley the big money to spark the fear for more oil?
The price of a barrel of oil surged almost $11 Friday, hitting a new record high of US$139.12 before settling at US$138.47.
Read the rest of this entry »
Washington rejoice, hybrid technology will save you and America alike. Governor Chris Gregoire and other state and local officials are ringing praises for the new Messiah AFS Trinity Power from a cross country tour in which its XH-150 Plug-in Hybrid SUVs have been celebrated as the possible answer to record high fuel prices, U.S. oil dependence and motor vehicle greenhouse gas emissions,
Again the promoters want to take advantage people's dislike of taxes.
The premise behind the plan is the make the interest on a mortgage tax deductible, by putting one's mortgage into a self directed RRSP. Mortgage payments then become RRSP 'contributions'’.
We've all read the top 10 lists on how we can conserve our gasoline and drive a few extra stops before our tank runs empty. These stories are particularly popular given the consistent rising price at the pumps. But here's a question: how many of these 'gas saving tips' actually help reduce fuel consumption? With that in mind, here are the...
Universal life insurance combines an investment component within a life insurance policy. They are often advertised as a tax shelter or as the best way to save on taxes.
Policyholders are able to choose investments in the policy. Premiums are flexible within the minimums and maximums stated in the contract. The Income Tax Act mandates a maximum investment return. Any gains above that are taxable. If only the minimum premium is paid it is difficult for the investment portion to make any gains.
Read the rest of this entry »
Whether it is Equifax in Canada, or perhaps the FICO score in the US, having flawless credit ratings is not only fanciful thinking, but not exactly possible. Fact of the matter is, getting a perfect score won't give you a better rate than if you had one or two belmishes on record.
The FICO score, can range from 300 (very bad) to 850 (solid gold). But don't expect to see many 850s walking around. Maybe more of a 775 walking around, with the same rate as the mysterious 850. Here are some tips to help your loan and credit ambitions.
Read the rest of this entry »
