Tag Archives: Chris Enns

Dec 11: Best from the blogosphere

It’s getting close to the end of the year and the holiday season is upon us. Here are some examples of subjects  personal finance bloggers havw been writing about recently.

Marie Engen (Boomer & Echo) offers tips on How To Leverage Technology Into Good Financial Habits. She notes that most banks have a budgeting app that tracks your spending so you get a better idea of where your money is going. If all your accounts don’t reside with just one financial institution, there are lots of mobile apps and budgeting software available, such as the popular Mint.com, GoodBudget and You Need a Budget.

Chris Nicola on the Financial Independence Hub tackles the perennial question, Should you take early CPP benefits or defer as long as possible?  Using Statistics Canada figures, he calculates that a woman maximizes her total CPP payout by waiting until age 70, resulting in an average of $75k (36%) more than if she took it at age 60. A man maximizes his total CPP a little earlier, at age 68, receiving an average of $50k (27%) more than at age 60.

Maple Money’s Tom Drake addresses the question: Should You Invest in Group RESPs? He concludes that the risk with group plans comes if you drop out early. Many of these types of RESPs have high enrollment fees. It’s not uncommon to pay up to $1,200 in fees. With Group RESPs, you don’t pay that amount up front. Instead, it is deducted from your returns when you close the plan early. Therefore if you withdraw from the plan before it matures, you could face big penalties — and even have  your contributions eaten up by the fees.

And getting back to how to save money and still enjoy holiday entertaining and gift giving…..

Holiday décor hacks for having a dinner party by personal finance writer, on-air personality, speaker and bestselling author Melissa Leong suggests that you create your own decor very cheaply, whether by gathering some greens or acorns from outside and dumping them in a vase or using wrapping paper to wrap empty boxes, make napkin rings or use as a table runner.

What If This Christmas… You Didn’t Have to Worry About Money? by Chris Enns on From Rags to Reasonable offers the following suggestions:

  • Figure out how much you want to spend.
  • Figure out how much you can afford to spend.
  • Buy a prepaid credit card and use it as the ONLY way you pay  for Christmas-related materials.

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.

Written by Sheryl Smolkin
Sheryl Smolkin LLB., LLM is a retired pension lawyer and President of Sheryl Smolkin & Associates Ltd. For over a decade, she has enjoyed a successful encore career as a freelance writer specializing in retirement, employee benefits and workplace issues. Sheryl and her husband Joel are empty-nesters, residing in Toronto with their cockapoo Rufus.

Oct 2: Best from the blogosphere

Recently Kyle Prevost (Young and Thrifty) hosted the online Canadian Financial Summit which included video presentations and interviews with 25 Canadian personal finance experts. While the presentations were free from September 13-16, you can still buy a pass to view these presentations.

Blogs by many of these people are regularly featured in SPP’s Best from the Blogosphere, but there were some interesting people on the agenda who are new to me. Today I introduce you to some of their recent work.

Alyssa Fischer is the writer behind one of Canada’s top up and coming blogs MixedUpMoney.com. In How My Accountability Buddy Became My Secret Financial Weapon she writes that grocery shopping with her husband is important because they help each other stick to their budget. She says, “If I let myself spend money in a frivolous fashion each time I needed a pick me up, I would be right back where I was 3 years ago. In debt, maxed out, and over my limit.”

Martin Dasko on Studenomics graduated from college debt-free and the purpose of his blog is to help readers get to financial freedom by age 30 (no debt, money saved, and the ability to do whatever they want). In Why You Should Save $10k in The Next Six Months (and how to start) he explains that personal finance is often about habits and choices. “You may decide to find new ways to make more money or spend less.  Having money in the bank will make your life better because you will have options and you can plan your next move,” Dasko notes.

Chris Enns is an opera-singing-financial-planning-farmboy and the man behind Ragstoreasonable.com. He wonders whether he can be an artist and be profitable. He also questions the following core beliefs  so many carry in the creative industry.

  • That breaking even is enough.
  • That paying the bills is enough.
  • That building a profitable creative business is next to impossible.

He recognizes that wanting just “enough” to live his life is holding him back in a huge way. Instead he says shifting his thinking to “making a profit” is more likely to pave the way to building his savings and planning for the future.

Janine Rogan is the talented writer and CPA behind JanineRogan.com.  Rogan suggests that if your bank balance is too high you are more likely to spend too much. For example, even though you have $15,000 sitting in your chequing account, some (or all) of that money may be spoken for.

But you may feel you can splurge because you have extra cash on hand. Therefore she suggests that you should set guidelines for a maximum bank balance in your chequing account and once you hit that threshold excess cash should be moved to a savings or investment account.

Rogan says, “Shifting the expectation to living on less because you only have a set amount of cash in your bank account means that you will function in more of a frugal mind set.”

Half-banked.com is Desirae Odjick’s personal finance blog for millennials who want to manage their money and still have a life. She offers Five ways to learn about money for free (without leaving the house). They include:

  • Taking out a stack of books from your local library.
  • Watching money videos on YouTube.
  • Reading a whole pile of financial blogs.
  • Tracking your spending.
  • Visiting the Canadian Financial Summit .


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.

Written by Sheryl Smolkin
Sheryl Smolkin LLB., LLM is a retired pension lawyer and President of Sheryl Smolkin & Associates Ltd. For over a decade, she has enjoyed a successful encore career as a freelance writer specializing in retirement, employee benefits and workplace issues. Sheryl and her husband Joel are empty-nesters, residing in Toronto with their cockapoo Rufus.

Jan 23: Best from the blogosphere

By Sheryl Smolkin

Here we go with another series of video blogs that will help you to organize and manage your finances. Some of them are not recent, but they have definitely withstood the test of time.


In Budgeting Without Losing Your Mind, Young Guys Finance says budgeting doesn’t necessarily mean punishing yourself so you can’t spend any money. Instead he vues budgeting as an awareness tool that will help you to identify what you are spending money on and cut back on what you don’t really need.

Because Money, co-hosted by Financial Planner and opera singer Chris Enns, interviews Kyle Prevost from Young and Thrifty. Join them for a rousing trivia game that is impossible to win and find out how hard it really is to get financial literacy into the high school curriculum.

When you tune in to a Freckle Finance video for the first time, you will quickly understand why the presenter has adopted this unusual handle. In this episode she explains what a GIC is and how it compares to other investments.

At the end of the year, Rob Carrick from the Globe & Mail took a look at which financial institutions have the best deal on high interest savings accounts. However, be forewarned – it’s still slim pickings out there!

And finally, if you want to figure out how much you are really worth, tune in to How to calculate your net worth with Bridget Eastgaard from Money after graduation.


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.