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Where Everyone Can Save Up to $100 a Month

Where can you cut costs without having to cut back on your lattes? One place that you can reduce your expenses by as much as $100 per month is your phone, cable and internet bill. Have you checked it lately? If you haven’t, chances are that promo rate you got with Telus or Shaw is [...]

Bank of Canada May Slash Interest Rates Next Year

The volatility hitting Europe and the risk of damage to the global economy means the Bank of Canada may move to cut its benchmark interest rate to ward off the risk of recession. Some economists are predicting a cut in the prime rate anywhere from 0.5% to 0.75%. Even if they are wrong the general [...]

Pay Down Mortgage or Contribute to RRSP?

Clients often ask me whether they should pay down their mortgage or contribute to their RRSP. Here are the things to consider:

If you pay off your mortgage first and then start contributing to your RRSPs, you are guaranteed a tax free return equivalent to your mortgage interest rate. The problem [...]