Category Archives: Blogosphere

May 22: Best from the blogosphere

By Sheryl Smolkin

It’s that time of the month again. We present a series of personal finance videos for your viewing pleasure.

First of all, don’t miss Kerry K. Taylor aka Squawkfox’s two part TEDx Talk. “What do you collect?” can be viewed above. You can also watch “Is it worth it?” here where she discusses whether you should pay $700 for a Canada Goose coat.

In an interview with Breakfast Television, personal finance expert Lesley-Anne Scorgie puts together a procrastinator’s financial checklist for those who have a hard time getting around to dealing with their money situation.

Rubina Ahmed-Haq discusses survey results that reveal why women should be saving a bigger chunk of their pay cheque in their retirement fund.

Ed Rempel presents “The 6 steps to become financially independent.” This 50 minutes of financial education is based on his experience working with nearly 1,000 families to create detailed, personal plans for their journey to financial independence.

Money After Graduation’s Bridget Casey says the stock market doesn’t have to be scary. She suggests three different types of accounts to help you get started in the stock market, no matter the level of your skill, knowledge, or savings.


Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

May 15: Best from the blogosphere

By Sheryl Smolkin

This week we present an eclectic mix of posts from Canadian money bloggers, some of whom have been posting for years but have not previously been cited in this space.

On HowToSaveMoney.ca, Heather Clarke offers 7 Ways To Declutter Without Spending A Fortune, Instead of buying costly clear lucite boxes, monogrammed fabric bins, or classic wooden divided trays, she says that using a little creativity and a few basic craft supplies you can make attractive, low cost storage solutions. But I’m not very crafty, so I think the two year rule is the best way to minimize clutter — if I haven’t used an item in 24 months, it’s time to get rid of it.

Recently governments in British Columbia and Ontario have enacted new laws to try and cap runaway house prices in some markets. Firecracker and her husband Wanderer who blog on Millenial Revolution are typically in favour of a laissez faire approach. But as reported in Your Thoughts on Government Intervention, the majority of their readers disagree. Of 356 readers who responded to a survey they conducted, 198 believe the government should intervene. And about one-third believe a tax on speculators is the most effective strategy.

Does your financial advisor really ‘deserve’ to be paid? Doris Belland tackles this thorny issue in a recent post on Your Financial Launchpad. She notes that the financial advice industry is undergoing a profound shift in which several economists plus some of the worlds’ most successful investors and Nobel Laureates argue persuasively that the higher fees associated with traditional investment products have a negative effect on investors’ results.

Ed Rempel explains Why he will never own an ETF or index fund. He says that the average fund manager can’t beat the market, but superior fund managers clearly can. Based on his research and investment returns, he believes he has selected All Star Fund Managers who have consistently exceeded the relevant indices. “Performance fee models with a very low base fee give you the low fee advantage of an ETF or index fund – plus a good chance of above index returns,” Rempel concludes.

And finally, on Financial Uproar, Nelson introduces The Too Much House Equation. “We constantly rag on people who buy too many video games or finance vacations, but we cheer people who make a similar mistake with their houses,” he writes. “The fact is the easiest way for the average person with only a small net worth to save more is to cut their fixed expenses, starting with housing.”


Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

May 8: Best from the blogosphere

By Sheryl Smolkin

In late April the Globe and Mail’s Globe Talks series widely advertised a panel discussion called “Invest Like A Legend” hosted by Report on Business editor Duncan Hood and featuring speakers David Rosenberg, William J. Bernstein and Prett Bannerjee.

When Kerry K. Taylor aka Squawkfox read about the session, she immediately blogged her displeasure in A woman’s place is on a panel.She wrote, “Despite The Globe’s inability to ‘find’ a lady investing expert, both my Twitter feed and my inbox exploded with prospective panelists. So I made a binder — a binder full of financial women.”

Therefore, in solidarity with some of the terrific financial women I have met over the last several years as a personal finance writer, this week’s Best from the Blogosphere highlights some of their work.

In her blog Want to cash-out on your real estate? Read this, Lesley-Anne Scorgie says, “When times are good in real estate there are plenty of reasons to cash-out. But, the cash-out only works to your financial benefit if you’re actually putting real money towards your net worth…that does not mean selling an expensive property and using the equity to buy a less expensive property.”

Toronto Star consumer columnist Ellen Roseman documents changes to Tangerine Bank’s no-fee money-back MasterCard that she says “wowed so many Canadians eager for innovation.” She notes that barely one year after the launch, Tangerine MasterCard is raising fees and cutting benefits – a move many customers call bait and switch. For example, the two percent rebate on two categories of purchases remains. But the rebate on all other purchases dropped to 0.5%, starting April 29.

Cait Flanders, who has previously written about her one year shopping ban and extensive decluttering says it’s now time for her to embrace slow technology. While she acknowledges freely that social media has played an important role in forging her personal and business relationships, she has committed to:

  • A 30-day social media detox (April 29th – May 28th).
  • Figure out the role she wants social media to play in her life.
  • Check/reply to email less often (also experiment with not checking on her phone).
  • Figure out the role she wants technology to play in her life (phone, computers, TV, etc.)
  • Read from a book every day

Jordann Brown, who blogs at My Alternate Life, recently shared her experience in How to Sell a Car in Canada as a Beginner. She researched how much her Volkswagen City Golf was worth and concluded she could sell it for much more than the $1,200 the dealership offered her when she bought her 2014 Subaru Crosstrek. She determined the car was worth $4,000, had the car professionally cleaned and did some small repairs. The car was advertised for $4,500 on Kijiji and after several days she happily accepted a $4,000 cash offer.

And finally, Jessica Moorhouse shares valuable information about banks and credit unions with free chequing accounts in Canada. You will not be surprised to discover that the list does not include the big five banks. However, Tangerine is now owned by the Bank of Nova Scotia.


Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

May 1: Best from the blogosphere

By Sheryl Smolkin

As soon as the sun comes out and daytime temperatures hover above zero, Canadian gardeners get itchy to plant flowers and vegetables. But depending on the part of the country and how far north you live, the optimum dates for planting differ. And if you take a chance and put in your garden too early you run the risk of having delicate seedlings ravaged by an unwelcome frost.

Here are links to some helpful information about gardening in Saskatchewan:

The goal of the  Northern Saskatchewan Gardening Manual is to encourage people to grow gardens, specifically in Northern Saskatchewan where many people still think that the climate is too harsh for growing a prosperous garden. This manual can help you to:

  • Start and maintain a healthy and prosperous garden in Northern Saskatchewan
  • Start gardening in containers
  • Start gardening in raised garden beds
  • Learn more about gardening, plant basics, and/or
  • Work as part of a group to create a community/shared garden.

The Old Farmer’s Almanac Planting Dates Calculator for Saskatoon not only tells you when to sow vegetables indoors and plant in the ground, but also when to harvest — and it is customized to your location based on the nearest weather station. For example, lettuce can be planted outside in early May but wait until the first of June for peppers. You can also receive planting reminders and a copy of this planting calendar by email.

LandscapeSaskatchewan.com says when planting vegetables, find an area, which will receive at least five to six hours of direct sunlight daily. Take into consideration: the amount of space you have available as some vegetables need more growing room than others; your own requirements for canning, freezing or table use; local frost dates and climate conditions. For a longer harvest period, plant vegetables at staggered time intervals.

Interviewed by CBC last year, Rick Van Duyvendyk, the owner of Dutch Growers Garden Centre in Saskatoon suggested that customers try watermelons or cantaloupes for a change. “Put them in a pot [then] put them outside during the May long weekend,” he said. “Once you get to September, cover them with a frost blanket. Two weeks into September, you’ll have watermelons that are 17 pounds.”

And also on CBC News l Saskatchewan, landscape designer Heather Lowe, the owner of Heather Lowe: Landscape Design in Regina offered 5 tips on how to add beautiful fall colour to your garden. She says don’t worry about matching colours, because in nature all kinds of colours blend together beautifully. “You can plan a garden around any season but try to have it be at peak beauty in the season you use it most,” she concludes.


Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

April 24: Best from the blogosphere

By Sheryl Smolkin

It’s show time again! For your viewing pleasure, in this monthly feature we present links to a selection of personal finance videos.

For students who may be filing an income tax return for the first time (and there is still one week left), CRA offers a series of 10 short videos. For example, Segment 2: Do I have to file is geared towards helping Canadian students determine whether or not they need to file an income tax and benefit return.

Globe and Mail columnist Rob Carrick shares four steps for millennials to get started as  investors, including where to put savings for a home down payment and where not to invest  savings.

Preet Bannerjee, author of Stop Over-Thinking Your Money: The Five Simple Rules of Financial Success (Portfolio Penguin, 2014) offers five simple rules of financial success. Rule #1 is to “disaster-proof” your life.

And finally, a video from the Canada Deposit and Insurance Company interviews three couples about their financial hopes and dreams and ways that they are protecting their hard-earned money.


Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

April 17: Best from the blogosphere

By Sheryl Smolkin

In a guest post for the Financial Independence Hub, Certified Financial Planner Gennaro De Luca writes that based on his experience, men and women approach taxes and investing differently. For example, he says nine times out of 10 it is the woman who takes the bull by the horns to get the family’s taxes done. Women tend to be more involved and are much more apt to ask questions of their accountant or tax preparer about tax credits and government benefits the family may be eligible for.

Robb Engen on Boomer & Echo discusses which accounts to tap first in retirement with Jason Heath,  a fee-only financial planner. Heath says it may make sense for people who retire early to withdraw funds from their RRSPs first and defer CPP and OAS until age 70.

Retire Happy veteran blogger Jim Yih outlines the top 5 new retirement trends and how they will affect your retirement. For example: retirement is not about stopping work; many people are “phasing into retirement.” Furthermore, long term care is an essential component in a retirement plan.

10 simple ways to save money at the gas pump was recently posted by Tom Drake on the Canadian Finance Blog. Who knew that avoiding unnecessary weight in your car; using cruise control on highways and driving under 100 km/hour could save you money?

And Sean Cooper recounts the story of his unexpected $1,300 furnace repair bill in the depths of a Canadian winter. Luckily, he is mortgage-free, so he had the necessary money sitting in his savings account. But his experience shines a spotlight on the importance of saving up an emergency fund in advance.


Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

April 10: Best from the blogosphere

By Sheryl Smolkin

Last week I couldn’t resist buying bright yellow forsythia, pussy willows and stalks of purple iris from the florist at one of my favourite grocery stores. It will be a few weeks before the flowering trees in my neighbourhood burst into bloom, but when I walked the dog this morning I heard the rata-tat-tat of industrious woodpeckers and crocuses were already pushing through the damp earth on the sunny side of the street.

If it’s spring, Alan Whitton aka the Big Cajun Man says its time to revisit the idea of a spring financial cleaning. A few of his ideas include:

  • Think about rebalancing if you are a Couch Potato investor.
  • Clean out and shut down any superfluous bank accounts.
  • Consider how many credit cards you really require and close extra accounts you don’t need.
  • Is your mortgage about to be renewed? Time to go shopping for a better rate.

Minimalist blogger Cait Flanders decided to move to back to her hometown in Squamish this spring. Although her rented condo is not small, she says she is living small in her not-so-tiny home. To Flanders that means living below her means with less stuff and making do, mending and prioritizing her life. Her list also includes getting involved in and supporting her local community.

“Living small is essentially not chasing ‘more’, but  learning to find the more in less,” she  notes. “It’s about utilizing the space you have, shrinking your carbon footprint and being an active member in your community (whatever that looks like for you).”

Kerry K. Taylor aka Squawkfox says our accomplishments are not just a matter of luck whether they be saving enough for the down payment on a house, paying down debt or scoring the winning goal in a soccer game. She reminds readers that “Luck is what happens when preparation meets opportunity,” and urges each one of us to own our successes and accept the kudos we deserve.

Why it’s NOT okay to be in debt when approaching Retirement by Douglas Hoyes was recently posted on the Financial Independence Hub. In the most recent Joe Debtor report issued two years ago by his firm Hoyes, Michalos & Associates Inc., the company reported that seniors are the fastest growing risk group for insolvency and that’s still the case today.

Hoyes says if you have more debt than you can handle, talk to a Licensed Insolvency Trustee about filing a consumer proposal or personal bankruptcy.  In most cases, you can keep your RRSP even if you go bankrupt.  Also, he suggests that if you own a home, you should discuss a consumer proposal as a viable alternative to bankruptcy. Both solutions will allow you to eliminate your debt, and preserve your RRSP.

And finally, on My Own Advisor, Mark Seed explores whether Financial Independence Retire Early (FIRE) is right for him. He reviews the financial and social implications for his family of retiring significantly earlier than his current target date of age 50 (which is still pretty early) and concludes that he and his wife are not ready to make any radical changes.

In his early 40s now, he concludes that more time and freedom would be great but instead of rushing towards this, they are more or less inching in that direction.


Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

April 3: Best from the blogosphere

By Sheryl Smolkin

It’s almost two weeks since the 2017 federal budget was tabled, so there is lots of “second day” commentary in the mainstream media to draw on for this issue. Saskatchewan also tabled a budget including some provisions that will impact your bottom line.

In the lead up to the federal budget trial balloons were floated regarding making employer-paid premiums for health insurance taxable benefits and changing the taxable rates for capital gains, but none of these dire predictions came to pass.

In the Ottawa Citizen, Kate McInturff, a senior researcher at the Canadian Centre for Policy Alternatives wrote that the budget is a first step to better the lives of women in Canada. She reports that the government will spend $100.9 million over five years to establish a National Strategy to Address Gender-Based Violence — a problem that has directly affected more than one million women in the past five years.

Erin Anderssen at the Globe and Mail offers seven things to know about Canada’s new parental benefits. Once the provinces pass job protection legislation, parents will be able to stretch their leave out for 18 months, but this will mean stretching benefits at a lower rate. The government is expected to move quickly, but the changes may not happen until next year.

Contrary to pre-budget expectations, Lee Berthiaume notes in a Canadian Press article that life-long pensions for veterans were not included in the Liberal government’s second budget. Finance Minister Bill Morneau’s new fiscal plan did contain new spending for veterans and their families, specifically $725 million in promised additional benefits over five years. Still, as welcome as the new money will be, the big question for many veterans is how the government plans to bring back life-long pensions as an option for those injured in uniform.

Hello Uber tax, goodbye transit credit says CBC News. The proposed levy on Uber and other ride-hailing services will for the first time impose GST/HST on fares, in the same way they are charged on traditional taxi services. The non-refundable public transit tax credit — a so-called boutique tax credit introduced by the previous Conservative government — will be phased out on July 1. The credit enabled public transit users to apply 15% of their eligible expenses on monthly passes and other fares toward reducing the amount of tax they owe.

And closer to home, the Saskatchewan budget hikes provincial sales tax to 6% and for the first time, the tax will apply to children’s clothes. CBC presents an analysis of how the PST hike will hit you in the pocketbook.

The government will also wind down the government-owned Saskatchewan Transportation Company, which it says would have required require an anticipated subsidy of $85 million over the next five years.

There were 574 layoff notices attached to this budget, including cleaners in government buildings and workers at the Saskatchewan Transportation Company.

Other notable provincial budget measures include:

  • The exemption for the bulk purchase of gasoline is being scrapped and a tax exemption for diesel fuel is being reduced to 80% of the amount purchased.
  • So-called sin taxes on booze and cigarettes are going up.
  • Various tax credits — including for education and tuition expenses — are being eliminated.
  • Effective July 1/17saskatchewan will apply provincial sales tax to life, accident and health insurance premiums.
  • The Saskatchewan government says it will offset some of the tax increases by reducing income taxes by a half-point on July 1, 2017 and by the same amount on July 1, 2019.


Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

Mar 27: Best from the blogosphere

By Sheryl Smolkin

It’s that time of month again. Here are a series of personal finance videos for your viewing pleasure.

Rob Carrick at the Globe and Mail says an overlooked way to prepare for retirement is to establish the groundwork for working beyond age 65 when you are still in your 40s and 50s.

Another interesting Globe and Mail video offers valuable advice on avoiding financial fraudsters including how to protect your computer and online passwords.

Bridget Casey from Money after Graduation posted three ways to spring clean your finances last April, but her suggestions are still relevant a year later. She says one of the first things you should do is get your free credit report.

Former gambler turned personal finance coach Beau Humphreys shares his journey from drowning in debt to financial freedom with Jessica Moorhouse in her Mo’ Money podcast.

In this video from CBC The National, Christine Burak and Natalie Kalata report that Canadians are living longer healthier lives but they are having more difficulty saving for a longer period of retirement.


Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

Mar 20: Best from the blogosphere

By Sheryl Smolkin

This issue of Best from the Blogosphere draws on the work of several of the over 60 personal finance bloggers/experts who belong to the Canadian Money Bloggers Facebook Group. While many are old friends, today we introduce you to several bloggers who are new to us that we have recently started reading.

Alyssa Davies on Mixed up Money writes about Why She Still Avoids the Mall 1 Year After Becoming Debt Free. In order to pay off $10,000 in debt arising out of a shopping addiction she had to quit cold turkey. Even going to the mall was too much temptation. She rewarded herself with a new $80 wallet when she paid off her debt, but since then she prefers to shop for clothing online as a form of damage control.

11 Ways to Lower Your Power & Utility Bills by Dan on HowToSaveMoney.ca is a very topical piece for any season. Dan suggests that to conserve water you use low flow toilets and make sure you have no leaky taps. Energy efficient blinds and window upgrades can help keep the cold out and the heat in. And weatherstripping, adding solar panels and smart thermostats are other options for better managing utility bills.

We’ve read a lot lately about Sean Cooper’s book Burn Your Mortgage. In fact I recently posted a podcast interview with him on this site. But FIRECracker chats with Cooper for the Millenial Revolution about what it actually takes to publish a book. Instead of finally relaxing after paying off his mortgage, he spent 3-5 months writing the book; 4 months editing and re-writing it; plus 6-8 months working with a publicist and literary agent on marketing. In addition, he put $20,000 of his own money into the project.

The blogger and founder of Family Money Plan Andrew Daniels says part of his plan to become financially free involves making more money. Taking surveys is one side hustle that is helping him reach this objective. There are a lot of different survey companies out there and each of them compensates differently. But if he is waiting for an oil change or for his kids’ activities to wrap up, he pulls out his smartphone and earns while he would otherwise be just killing time.

CPA Robin Taub frequently blogs for Tangerine Bank’s website Forward Thinking. In How someone stole my identity to commit fraud and what I did about it she tells a compelling story about Janice who was the victim of identity theft and fraud like 20,611 other people in 2014. It took her months to get her credit rating cleared so she could be approved for a mortgage and purchase a home. “To this day, I’m still not sure how my Social Insurance Number was compromised since I didn’t physically misplace or lose the card. But I’m much more vigilant now about protecting myself,” Janice told Taub.


Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.