Oct 16: Best from the blogosphereOctober 16, 2017
There is nothing like curling up on the couch to watch a good movie on a chilly, autumn evening. Before you move on to Netflix, here are some great new personal finance videos that will educate and entertain you.
In Money Left on the Table, Kerry Taylor, aka financial writer and blogger Squawkfox is interviewed on the CBC News Network about eligibility for Registered Disability Savings Plans and how to navigate the application process. She says, “There is really limited uptake for this program geared to people with serious, ongoing physical or mental impairment because applying for it is very complicated.”
This video from the Khan Academy clarifies what buying company stock means and clearly identifies the difference between stocks and bonds. The commentator explains, “In the general sense when you buy shares or stock you are essentially becoming a partial or part owner in the company. In contrast, bonds mean you become a lender to the business.”
Accountant and certified financial planner Ed Rempel discusses the meaning of financial independence, the huge difference it makes in your life and what it takes to get there. By helping almost 1000 families put together a financial plan he has gained insights that form the basis of his 6 Steps to Become Financially Independent.
Sean Cooper, blogger and author is interviewed on the Global Morning show about how homeowners will be affected by higher interest rates. Because Cooper paid off his mortgage by age 30 he does not have to worry about the personal impact of these changes. However, he says, “If you are in a variable rate mortgage and rising interest rates are keeping you up at night, it may make sense to lock in right now.”
Planning a vacation? Preet Bannerjee explains the meaning of dynamic currency conversion and why you should always pay in local currency when travelling. When a merchant gives you the option to pay in your home currency and you choose to do so, the process is known as dynamic currency conversion or DCC. You may think you will come out ahead and avoid the 2.5% conversion fee charged by the credit company. But in fact his examples show that credit card companies typically offer a better exchange rate than if the merchant applied DCC and charged customers in their home currency. And some credit cards charge 2.5% on every transaction anyway.
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.|