Investing

There may be a lot of economic uncertainty out there but it appears quite a few Canadians are sure of one thing -- they're still expecting to get their annual bonus.
A recent poll by BMO suggests that one third of Canadians in the workforce expect to get their year-end bonus which usually arrives between now and the end of February. It seems that those anticipating the reward also have high expectations when it comes to how much they'll receive -- 79 per cent of respondents who said they think they'll get a bonus said they expect it to be the same amount as last year or higher.

The Mitt Romneys of the world not only pay less tax than the rest of us, (he paid about 17% on his millions according to reports this week), but their savvy extends to tax havens where they can save even more. Tax-free zones from the Caymans to lesser known spots like the Cook Islands, attract wealthy individuals like bees to honey.

Click on the photo below to find out where the 'one percenters' salt it all away.

Canadian Press is reporting that the Bank of Canada is keeping its trendsetting policy interest rate at a super-low one per cent until at least March, which it admits will foster a continued rise in household debt from already historic highs.

The central bank's decision on interest rates Tuesday was widely expected, but it did unveil a few new twists in its release, including a slightly altered profile for economic growth and an admission its policies will likely keep Canada's housing market strong and spur consumer spending.

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I like to explain it this way: think of your RRSP as a garage. It's essentially an empty structure. You still need to put cars into your garage. These cars could be GIC's at your bank, stocks, bonds, mutual funds or just about any combination and more. But without carefully choosing which cars go into your RRSP and periodically changing those cars up, many Canadians aren't optimizing their RRSPs.

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I must preface that if you have any high interest credit card debt, that should be the first focus. With those rates hovering around 11-29% interest, it always makes more sense to get rid of that debt first.

Let's assume that you doesn't have any other debt and are simply wondering if the RRSP is the better way to go or, should you fast track paying down your mortgage?

Read on to find out which is the better option, or, if you should opt for a blend of both.

When it comes to giving to charity, so much of it comes down to raising awareness through various fundraising initiatives, but what if regular people could give like Warren Buffet, Bill Gates and Brad Pitt do?

Enter Chimp -- an online bank account that makes giving to charity so easy a monkey could do it.

The Vancouver-based fund is inspired by the strategic and structured giving practices employed by private foundations, such as The Bill and Melinda Gates Foundation, with the goal of making donating much easier for the average Joe.

Founded by John Bromley, the vice-president of the Vancouver-based Benific Group, a firm providing legal and operational advice to Canadian charities, Chimp allows anyone to donate any amount to any Canadian charity as often as they want, or give their funds to a friend so they can donate. Then, at the end of the year, all your donations are organized for you on a single tax-receipt.

Related Links:

• Be More Charitable Without Depleting the Bank Account
• Create Your Own Fundraising Website for Weddings, Birthdays and Sporting Events
• Open Your Heart and Eyes When You Donate

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Several great things were said and learned over November during Credit Education Week, which was held across Canada during Financial Literacy Awareness Month. That's the good news.

The bad news? November 2011 is over and now we have to put all that new-found financial literacy to work. For most of us real life - or the real fight - has begun: the financial demands of Christmas, tax season, and school.

Unfortunately for some of us, real life never really stopped - growing children, health demands of aging parents, food prices on the rise, household debt, and an economy which seems stuck forever in neutral.

Laurie Campbell, Executive Director for Credit Canada, says putting a spotlight on money management and credit issues during Credit Education Week has been key to helping people understand the importance of financial literacy.


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With Christmas looming, it's about time to start thinking of how to survive with our wallets not so much intact as, rather, still breathing.

For whatever reason, most of us are of the opinion that by heaping presents on one another, the more expensive, the better, we would be able to overcome the perfectly logical uneasiness about ourselves and our relationships with others. We haven't got enough time during the year for our children and sundry relatives, and now, we think, we might be able to fix the issue in one fell swoop.

When we get the credit card bills in January, we sober up and start working like beavers, leaving us no time to spend with those whom we should be spending time with.

Vicious circle or vicious circle?

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We've compiled short list of some of North America's largest dividend stocks. These 10 companies have weathered the past 52 weeks and have managed a healthy five-year average annual growth. We figured that you work hard for your money and don't want to be up all night worrying about your investments. So that's why these companies made the list.

Source: Bloomberg

You must have seen the TV commercials: an adult offers a child something, and then, he offers something better to another child, just because that child is, as one of the commercials puts it, newer.

It's all about offering incentives to newcomers while earlier clients have to make do with services they have signed up for earlier, getting no new incentives in return.

Are the commercials a smart way of marketing financial (or any other) services? Or are they a sad commentary on the fairness (or lack thereof) when it comes to attempts to drum up new custom?

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