A Line of Credit is basically like a credit card in that you apply to have the ability to borrow money whenever you want andĀ have a set limit that you are authorized to use (let's use $10,000 as an …
The Magic of Compound Interest
Albert Einstein was a pretty smart guy - I think we can all agree on that. The man who gave us the Special Theory of Relativity and the General Theory of Relativity famously said that the most …
What is an RRSP?
RRSP stands forĀ "Registered Retirement Savings Plan". It is a type of savings or investment account which was designed for Canadians to facilitate retirement savings. It is "Registered" with the …
What is a "tax write off"?
One common misconception that people have is their understanding of a "tax write off". Often you will hear someone say "I can write that off...", in this case they are referring to the ability to …
Picking investments based on past performance
Invariably people will see a ranking of highest performance funds for the last year or so and ask "Are these good funds?" Others will just go and blindly buy them. In fact, there is a huge proportion …
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Refinancing your home
I'm going to offer up an example in a following post, but this post is to deal with the psychological aspect of refinancing your home to consolidate debt. First, let's just make sure we're on the …