The Canadian Money Magazine

By Big Cajun Man | Some of the better places to find information about Personal Finance in Canada (and the world)

Avoid Bankruptcy: Top 5 Alternatives to Bankruptcy in Canada

Hoyes, Michalos & Associates Inc. is not a bankruptcy firm – we are a “fresh start” organization. We know that bankruptcy is not your only option. …

Owe

The Dividend Puzzle

The strong preference many investors have for dividends over capital gains is known among economists as the “dividend puzzle.” Meir Statman offers a …

Stocks

Don't be afraid to make a change - Canadian Personal Finance Blog

<i>This is another one of my “classic” early stories, and one that I am quite proud of, in that I got a great deal by simply being pissed off enough to</i> …

Mortgages

Sesame Street goes global to teach kids about money

NEW YORK (Reuters) - Translating money messages to 100 million kids around the world is not a feat for ordinary humans - you need monsters.<p>Elmo and Cookie Monster, to be specific.<p>These two and their furry band of Muppets have been part of Sesame Workshop's "Dream, Save, Do" program, a joint venture …

Kids

Why Waiting 6 Months to Update Your Financial World is a Bad Thing - Canadian Personal Finance Blog

Thanks to an illness, I let my financial world slide a little (not just this web site). This all started around November (right after I went to a …

Personal Finance

Mental Accounting and How We Spend Money

We all have quirky behaviours when it comes to managing money. One trick we fall victim to is called mental accounting. We separate our money into …

Money

Public Retirement Systems - Part 2

This is the second blog post in a series on public retirement systems. The first post, compared CPP/OAS in Canada to Social Security in the United …

Social Security

Ex-NFL player who lived on $25,000 a year shares the key to saving

When John Urschel retired from the NFL at age 26 in 2017, he had earned an impressive $1.8 million over just three seasons with the Baltimore …

Money

The Dead Man Fund

Jack El-Hai | Longreads | November 2017 | 7 minutes (1,672 words)<p>In 1989, Morningstar, Inc., an advisory service, issued a strongly worded and …

Finance

We Shall Remember, Paradise Papers, Tax Cheats and #MoneyTalk #FLM2017 - Canadian Personal Finance Blog

Tomorrow is Remembrance Day in Canada (and it is Veteran’s Day in the USA), and we should all remember the sacrifice others have made for our …

Finance

The Infinite Income Fallacy - Canadian Personal Finance Blog

Understanding what Infinity means was one of the fun things in my Mathematics education.<p>The first time I started to really understand it was after a …

Finance

Investment Risk Profile - Canadian Personal Finance Blog

As part of the opening of an investment account, usually, you must answer a set of questions finding out how risk-averse you are, called the …

Finance

Lifestyle Creep - Canadian Personal Finance Blog

About a year ago I asked Do You Make More than You Did 5 Years Ago and I got some interesting responses on the question, so let us delve a little …

Personal Finance

Straight Talk on Your Money – Book Review

Save, invest, prosper with My Own Advisor.Straight Talk on Your Money Many financial mistakes people make are a result of conventional wisdom. That …

Money

ODSP and RDSP Services that Clash ? - Canadian Personal Finance Blog

The Ontario Disability Support Program ( ODSP ) and the Registered Disability Savings Plan ( RDSP ) seem to be contradictory to each other.<p>What is an …

Retirement

Weekend Reading – Frugal NFL players, robos managing money and building wealth in Canada

Welcome to my latest Weekend Reading edition, the first one of November as the end of 2017 draws closer…<p>Earlier this week I got a chance to chat with …

Wealth

Haven't You Changed Banks Yet? - Canadian Personal Finance Blog

Have you at least threatened your current bank that you might leave if they don’t give you a better deal? Remember I have always said Don’t be Afraid …

Personal Finance

Fall Back, Farewell PC Financial, and #MoneyTalk #FLM2017 - Canadian Personal Finance Blog

This Saturday night you will be turning your clocks back an hour, giving yourself an extra hour sleep. For me it will simply mean going to work in …

Finance

House Poor ? - Canadian Personal Finance Blog

Nobody Calls it House Poor ? That is an expression that you don’t hear much these days, and I wonder why it seems to have evaporated as a term when …

Mortgages

The Tyranny of Choice - Canadian Personal Finance Blog

In this world, there are choices for everything, and with that we now have an entire generation that cannot make decisions.<p>When I was a kid, we had 5 …

Dunkin' Donuts

Book Review: Complete Idiot's Guide to Getting Out of Debt - Canadian Personal Finance Blog

On occasion some kind publishers send me books for me to review and read. So far most of these books have been a little out of my league, or a little …

Personal Finance

RDSP Clarifications and Podcasts

Tweet Doug Hoyes invited me to chat with him on his podcast and it came out this past weekend. Do I Lose My RDSP If I Go Bankrupt? includes the …

Retirement

Tax Efficient Investing - Part 2

Two weeks ago I discussed tax efficient investing within a TFSA. Today I conclude this discussion with a review of tax-efficient investing options …

Retirement

RESPs and High Fee Mutual Funds

Tweet RESPs and high fee mutual funds seem to go hand-in-hand in Canada. Most RESPs, are set up with an “adviser” of sorts (usually at a bank), who …

Finance

Who Green-Lit this Tom-Foolery ?

TweetThis is a homogenized version of an expression I have picked up from Letterkenny Problems, and I feel it is something that you can use in your …

Walmart

RRSP and Bankruptcy Laws in Canada: Tips to Preserve Your Retirement Savings

Do I Lose My RRSP or Pension if I File Bankruptcy in Canada? Many people are worried that if they file personal bankruptcy they will lost their RRSP …

Retirement

How Class B Shares Cured Me of Stock Picking - Canadian Personal Finance Blog

When I was young I invested in individual stocks, I watched trends and I tried to read the Yearly prospectuses. It was thanks to reading the original …

Stocks

Politicians, retirees push for new laws to protect pensioners

Bloc Québécois, NDP MPs propose bills to put pensioners closer to front of line in bankruptcy proceedings<p>In the wake of the Sears Canada bankruptcy, …

Bloc Québécois

Get Rich With: Conspicuous Consumption

<i>MMM Note: The following is a lesson from our Canadian friend Mr. Frugal Toque, a long-time reader and contributor to this blog, and soon-to-be early</i> …

Money