Aug 24: Best from the blogosphere
August 24, 2015
By Sheryl Smolkin
After several weeks of “theme” issues of Best from the Blogosphere, for the next several weeks we will get back to basics and check out what our perennial favourites have been writing about lately.
On Boomer & Echo, Marie Engen discusses 3 financial mistakes to avoid. They are buying too much home; raiding your RRSP; and, putting your child’s needs ahead of your retirement.
Retire Happy’s Sarah Milton describes Using the Lifelong Learning Plan. The LLP is a program that allows Canadian residents to borrow up to $20,000 from their RRSPs in order to cover the costs of a full-time further education program for themselves, their common-law partner or spouse. If the Harper government is re-elected, they have promised to raise this amount to $35,000.
The Frugal Trader gives a Financial Freedom Update on Million Dollar Journey. He says in the year since he has reached the million dollar net worth milestone it feels great but nothing has really changed. His family has recently decided to become a single income family and with tight fiscal management they are able to live on one government salary.
Blonde on a Budget Cait Flanders moved from Vancouver to Victoria recently and she has established a final de-cluttering challenge for herself. Last year she purged 43% of her belongings in one month to embrace a minimalist lifestyle. She has given herself 20 days to see how much more stuff she can get rid of when she unpacks her moving boxes.
Finally, Michael James on money says Your Retirement Spending Plan is Critical. While working, if you don’t like the plan your financial advisor has set up for you, you can find a new advisor and make up for past mistakes. But if your advisor puts you on a bad retirement spending plan, by the time you figure out there is a problem, there’s little you can do. other than cut spending.
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 with us on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.Blonde on a Budget, Boomer & Echo, Cait Flanders, Lifelong Learning Plan, LLP, Marie Engen, Michael James, Michael James on Money, Million Dollar Journey, Registered Retirement Savings Plan, Retire Happy, RRSP, Sarah Milton, The Frugal Trader